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Pet Industry soars in growth

Pet Industry soars in growth
Copyright euronews
Copyright euronews
By Euronews
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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.

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On 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 Exchange
The Exchange© euronews
Nestle Purina Petcare Europe CEO, Jeff Hamilton, speaks to The Exchange
Nestle Purina Petcare Europe CEO, Jeff Hamilton, speaks to The Exchange© euronews

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.

"Pet owners are still converting from home-prepared pet food to more commercial pet food. That will continue to be a key growth driver for the category to having both lower-carbon products as well as more recyclable packaging. So, we're putting a lot of energy on our own part and creating more specific nutrition solutions, specifically catering to the nutritional needs of pets."
Okazoo (Belgium)
Okazoo (Belgium)© euronews

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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