As more people sought solace and comfort from their pets during the pandemic, this space thrived in 2020. Pet expenditures continue to be viewed as non-discretionary staples. As a result, while many other industries were challenged, the pet, vet, and animal health sector reinforced its reputation as a good place to invest and make money—as well as not to lose money.
According to the American Pet Products Association’s Covid-19 study, 72% of pet owners said spending time with their pet helped reduce stress, and in return for their soothing presence, pet parents treated their companions as part of the family, just as they have done for years. Here’s a quick look back at the pet industry in 2020.
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