The value of the UK pet products and services market is forecast to reach £7 billion by 2021 according to AMA Research, with British pet owners putting their animals’ happiness up there with their own.
The most recent PDSA PAW Report revealed that 50% of UK adults own a pet and in 2019 it was estimated that there was a pet living in 12 million households. The pet industry is booming, with new companies entering the market and animal lovers treating pets like members of their family. Mintel research has revealed that 30% of millennial pet care owners (aged 19-38 years) like their pet to keep up with the latest trends through clothes and interior styling and these consumers would also spend just as much money on their pet at special events, such as Christmas or their birthday, as they would on a friend or family member.
Any retailer with a pet section can boost sales in the gifting category, with owners lavishing their animals with presents, as they would their own friends and relatives. Once in-store, pet owners tend to spend more on add-ons such as treats and accessories. Luxury pet hampers, orthopaedic animal beds with memory foam mattresses, sleeping bags and matching bowls have become luxury purchases as 66% of owners buy gifts for their pet.
There is also a trend for dressing up our pets, with owners spending an average of nearly £200 a year on clothes. Pet clothing couture has become fashionable, with products ranging from animal booties, coats, fancy dress costumes, tuxedos and hoodies for cats and dogs. Some pets are even gifted with smartphone-controlled toys, fitness trackers and cameras that allow owners to watch, talk to, play and feed their pets.
The pet food industry, meanwhile, is worth approximately £3 billion in the UK. Demand for craft pet food and delectable delights such as sausages, casseroles, artisan dog bakery treats, popcorn, ice lollies and even foie gras has grown significantly in recent years. Health and wellbeing will be the focus of the brand new Pawexpo, a new high-end pet-focused exhibition to be co-located next to Glee from September 15 – 17 at The NEC Birmingham.
The greeting card image featured here is by British designer, Robert James Hull, who will exhibit at the British Craft Trade Fair from April 5 – 7. See more about his products here.