Doting pet owners are catering to their pets’ needs like never before, fueling growth throughout the pet industry. And economic uncertainty and market volatility are no impediment to the sector's roar: the pet industry, like a loyal dog, is steady and reliable even in precarious times. Americans spent $60.28 billion on pets in 2015, and that number is expected to leap to $62.75 billion this year. In times of plenty, consumers have the disposable income to lavish on their four-legged friends, and even in more meager times, the robust spending can serve as a comforting mechanism to spoil the creatures that provide owners with such support.
That's led to an explosion in specialty products, from pet fitness merchandise to popular gourmet dog food. As consumers attest to the fact that they don't intend to cut spending on their animals and that they want their children to grow up with pets, the pet industry looks to be a sustainable safe-harbor for investing as well. Public pet-related companies include animal product and services company Indexx Laboratories (IDXX), global animal health company Zoetis (ZTS), veterinary company VCA Antech (WOOF), pet supply company Central Garden & Pet (CENTA) and pet pharmacy PetMed Express (PETS). With ample growth afoot among these companies, it may be time to train your eyes on this robust sector and snuggle up to the opportunities it offers.
This steadily expanding segment has some serious bark in it. So sit; stay... awhile. And sniff around our #DOGDAYS package below to get the latest insights into the pet industry.
The largest purchase in any dog-owner's canine-related life requires some careful consideration.
Smucker spent nearly $6 billion on a pet food company, and eighteen months later, its shares continue to climb to all-time highs.
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