Pet industry
The pet business, sometimes referred to as petconomy, is the economic sector that is related with domesticated animals that are kept as companions. It incorporates items that are connected to the production, consumption, and cultural activities that are related with the market. In addition to food, playthings, and veterinary care for animals, the market is seeing the introduction of new services and goods like as taxis, kindergartens, hotels, information technology (IT) appliances, broadcasting, theme parks, and even burial services.
Between 2017 and 2018, it was estimated that there were 393 million people who had pets in the United States, which resulted in a total spending of $72.56 billion on pets. It was predicted that there were more than 158 million companion animals living in Europe at the end of the year 2018. The overall costs associated with maintaining a pet may be broken down into the following categories: food, supplies and medications, visits to the veterinarian, the acquisition of live animals, and other services.
According to the 2019-2020 APPA National Pet Owners Survey, the dog is the most popular found pet in the United States. 63.4 million households in the United States own at least one dog as a pet. Cats are the second most common found pet in the United States. After that follows the cat, which is kept in 42,7 million homes all across the world. With 11.5 million homes in the United States having at least one fish, the freshwater fish occupies the third spot on the list of the most popular pets in the country. Next on the list is the bird, which is owned by 5.7 million households, followed by tiny rodents (5.4 million households), reptiles (4.5 million households), and finally saltwater fish and horses, all of which are owned by 3.2 million families.
In the United States, the cost of owning and caring for a dog on a yearly basis is estimated to be $1,381. The total annual cost of maintaining a cat in the United States is $908 dollars. These fees include items like as visits to the veterinarian for surgical procedures as well as normal procedures, food, supplements, and toys.