New research has found the UK pet product and service market is expected reach a value of £2.1bn by 2023, a 25 percent increase from an estimated £1.7bn in 2018.
According the research by Mintel shows six in 10 pet owners bought pet products in 2017, with toys being the number one pet care product purchased. When it comes to play, 41 percent of dog owners say they have bought their animals toys compared with 35 percent of cat owners.
When it comes to pet services, pet health check-ups and pet grooming lead the way. As many as 10 percent of dog owners have paid for dog walkers, rising to almost one in five dog owners aged 16-24, while seven percent of dog owners have paid for pet sitting.
Chana Baram, retail analyst at Mintel, said: “The pet food and pet care industry is growing well, underpinned by stable pet ownership and an increasing desire to treat pets with premium food, products and services as they become a more integral part of the family.
“Additionally, with pet ownership peaking among full-time workers, there is an opportunity to provide practical services such as dog walking and daycare.”