The Global Pet industry is shifting toward being a hugely competitive market. Pet ownership from 2020 has increased by over 50% in European countries such as the United Kingdom, Germany and France.
ADVERTISEMENTOn this episode of the Exchange, we focus on the multibillion-dollar pet industry. People are going to extra lengths to care for their beloved pets, and with this, the industry is booming across North America and Europe. We speak to Sonia Morgan, the CEO of Pet Travel EU, who focuses on the transportation of our furry friends. We also visit a dog daycare centre that watches over our pets whilst we work, and we get the latest from Jeff Hamilton, CEO of Nestle Purina, who contextualises just how massive the pet industry is.
The sector is growing fast, and analysts predict the industry will be worth half a billion dollars by 2030.
The Changing Pet Market
One area of the pet industry which is seeing significant growth is pet food. Jeff Hamilton, the CEO of Nestle Purina Petcare Europe, explained that as humans become more conscious about the food we consume, we are doing the same for our pets.
Okazoo is a pet care facility based in the heart of the Belgian capital, Brussels. The company is passionate about the welfare of animals and pledges to keep our furry friends entertained and well looked after whilst their owners are at work. The business started in 2010 when owner Karina Koche noticed a gap in the market. Since then, the company has become a trusted source for dog owners throughout the city.
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