Tnothing like a pandemic to shake up the wellness industry. With healthy products and services selling like never before due to the pandemic, it’s only natural for consumers to want to pass these benefits on to their pets. But with a market as large as health and wellness, it can be difficult to know which products will fly off the shelves and which might not capture consumers’ interest.
Many animal professionals rely on SuperZoo to better assess trends and stock up on popular products. When SuperZoo is back in Las Vegas in August, the pet community was eager to visit the new product showcase and meet the 2021 award winners.
As expected, the Showcase highlighted new wellness products that grab attention and generate profits. This year’s specific winners included bird stress recovery supplements, earplugs to calm dogs during grooming, equine mobility products, healthy plants for fish, electrolyte pellets for horses , wound repairs and reptile coolers, to name a few.
“It’s an exciting time for professionals and pet owners alike,” says World Companion Animal Association (WPA) president Vic Mason. “Pet welfare products, especially supplements, promote longer, healthier lives for pets and bring a real level of joy to their owners. Retailers in our community love pets too, so they’re passionate about finding premium solutions that their customers are looking for. “
As more in-depth studies are published and new products hit the market, expect supplements and wellness products to gain popularity. Combined with the recent diversification of the veterinary industry, including in-store clinics and online pet pharmacies, and the increase in pet insurance, pet welfare appears to have a long future. and healthy.
After CBD products have taken the market by storm in recent years, pet owners have started purchasing CBD treats and tinctures to help their pets’ joint health and provide relief. anxiety. According to GrandView Search, the global CBD pets market was valued at $ 125 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 58.9% through 2028. Remarkably, the supplements market including vitamins, fish oil and probiotics, is expected to cross the billion dollar mark by 2027.
Part of this growth is due to an accelerated awareness of immune health, triggered by COVID-19. Kerry Institute for Health and Nutrition conducted a survey of U.S. dog and cat owners and found that more than 25 percent are more concerned about their pets’ health as a result of the pandemic. Over the past year, this has translated into increased sales of CBD, hemp oil, krill oil, and silver in the form of nutrition bars, treats and meal toppings.
Digestive health supplements are also skyrocketing at a 173% growth rate in 2020 compared to 2019. Probiotics are leading the way, again boosted by pet owners who take the supplement and want to share the benefits with them. their pets.
Diversification of the veterinary sector
For much of 2020, convenience has been king in the retail world, leading to an increase in e-commerce sales that could account for 50% of all sales over the next five years, according to a firm of studies Packaged facts. Not surprisingly, veterinary health services have moved online as well, including telehealth practices as well as online ordering of prescriptions and specialty products. Now the retail industry is eager to join us.
Earlier this summer, the two soft and Pet Supplies More, officially expanded its offering to include prescription drugs for pets. Available online, the outlets will offer prescription diets, flea and tick products, and specialty drugs with veterinary approval for cats, dogs and horses.
According to TD Ameritrade, Medicines and vaccines for pets are expected to represent a market of $ 15 billion by 2025. As pet owners increasingly seek the best professional care for their pets, pet insurance company has amortized the costs. Dog insurance covered around 75 percent of the market last year, according to ResearchandMarket.com.
“It’s too early to tell how an increase in pet insurance will affect consumer spending on pet care and supplements,” Mason said. “However, as pet insurance gains popularity, it’s likely that pet health products will be a priority for customers as well. “
Often the best information comes directly from the retailers themselves.
Lisa Senafe, co-founder of Bentley’s pets always had a passion for animals. A former finance professional in the mortgage industry, Senafe’s life changed after adopting her dog Bentley.
“I am very strict on the products I offer because quality and customer service are extremely important to me,” Senafe says. “The owners come to me with allergies, skin and coat problems and digestive problems. That’s why I offer a variety of products, so they can find what works best for their pets. It is never a thing once done.
As new brands and formulations of foods and supplements always hit the market, what makes this time different is the arrival of unique categories of pet care products including pet wipes. pets, cat toothpaste, creative and self-cleaning habitats, wi-fi – connected litter boxes. As the industry grows, expect more categories of wellness products and supplements to hit the shelves.
For professionals looking for products to suit their target audience, SuperZoo will return to Las Vegas from August 23-25, 2022. You can find out more about the winners of the New Product Showcase at wpa365.org.