The pet industry is one of the healthiest markets, as more consumers are proving that money isn’t an object when it comes to their furry companions. It’s one of the most financially lucrative industries, with several pet brands experiencing record sales and growth numbers.
The current state of the pet industry has certainly drawn a lot of attention from those looking to get a piece of the action. With that being said, the timing is perfect for new innovations and opportunities. Some of the possible new trends are highlighted below.
“On demand mobile veterinarians are sure to shake things up in the coming years. We’re already seeing this in San Francisco with VetPronto. It’s another way that technology and a shift in an existing industry is focusing more on the consumer with convenient access to vets on their terms.“ — Sean Christman, Founder of Slamdot
Pet location products.
“A product that helps locate lost pets – especially dogs. Local social media sites like Nextdoor are filled with more lost pets than any other discussion topic. For tons of reasons, pets get loose and owners have trouble finding them.” — Matthew Kolb of All High Schools
“I can see smart collars becoming even more advanced. GPS capabilities combined with a fit tracker is something I can see owners buying. Fitness is becoming more of a priority for many, and people tend to treat their pets like humans, so why wouldn’t they take advantage of fit options for pets.” — Jim Epton of Dom Huga Ltd
“Technology to monitor our pets. With GPS devices and implants already in the market the clear next step is smartphone, and desktop-based applications to utilize the data, connecting with pet health care providers, as well as enhancements in pet wearable designs and details.” — Shawn Freeman, Founder and CEO of TWT Group
More specialized services.
“More personalized and one-to-one service offerings such as in-home training and grooming. Businesses that offer services tailored to a customer’s needs and capitalizing on convenience (saving pet owners time) can thrive.” — Shawn Schulze of HomeArea.com
“Pet tracking technology has come a long way. Being able to find a lost animal in real time has allowed many pet owners the benefit of not worrying when they have a loved pet missing. Adding to this will continue to help.” — Marc Webb, Founder of Real PDL Help
Specialized custom accessories.
“I see specialized pet accessories really taking off. There has been a noticeable increase in the number of customized accessories and clothes, and I think when you combine that demand and interest with the ability to produce and ship via e-commerce, it’s a trend that will continue to grow.” — Andrew Tran, Founder of Therapy
Camera equipped accessories.
“I think we are going to see more camera equipped pet accessories, like collars. Look at the fascination with GoPro’s and point of view angles. With the cost of cameras coming down along with the ability to get quality video from small devices, it creates a huge opportunity.” — Ari Evans of AAA Handbags
Improved smart technology.
“Smart technology, similar to what pet owners use on their smartphone, will become more and more common. Automated feeding systems, pet cameras and even wearable tech like collars that track steps are going to be the next big thing in the pet industry.” — Joseph W. Belluck of Belluck & Fox, LLP
“It looks like apps that track your pet’s medical history, current health, and everything else will be the next big thing to disrupt the pet industry. Like the smart devices available to us, I think people will start to use the same for their pets.” — Ben Walker, Founder of Transcription Outsourcing, LLC
Use of smart chips.
“I think we will see more advanced smart chips, which will allow owners not only track and monitor their pet’s location, but also access data pertaining to health tracking, similar to what iPhone health app or a Fitbit gives us access to. I think it’s something pet owners will embrace.” — Tom Munroe, CEO of RugStudio
More on-demand pet focused services to launch.
“I can see more on-demand pet services launching. Things like on-demand dog walking or pet grooming are convenient and there is a massive market for them. I see these types of services gaining popularity and maybe even some larger companies acquiring some established ones to get a head start.” — Michael Herron of The Law Offices of Michael R. Herron, P.A
New organic brands.
“I see more organic and health cautious brands coming to market. You have seen it in the human food market, as everyone is obsessed with organic and healthy foods. This is only going to spill over to the pet industry and more brands will turn their focus on this niche within the market.” — Christopher Dziak, CEO of Pure Nootropics