Exploring the Lucrative Pet Industry and Mastering More from Online
Zuzana Klimkova
Partnerships Manager @Google | Driving Growth through AI, Coaching & Community
Hi everyone,
Welcome to a brand new week filled with exciting opportunities! Thank you for joining me in reading my latest newsletter where you can discover insights about the lucrative pet industry and investment potential it holds. In the training courses you’ll find information about learning the ‘buzz topic’, generative AI, with seven free courses from Google Cloud, as well as launching your online business from Joan Decollibus from The State University of New York. In the product section, we’ll explore Threads by Instagram and Uplead, a B2B prospecting tool.?
Enjoy your reading and learning journey with 'Digital Insights Digest'!
Insights & Market Intelligence: The Lucrative Pet Industry
The pet industry is not only thriving and recession-proof but also offers exceptional growth and investment potential. Even during challenging times like the Covid-19 pandemic, the pet business has flourished as people seek comfort and companionship from their beloved pets. This surge in pet ownership has been a powerful driving force with online sales complementing traditional pet shops and further expanding the market.
Let's dive deeper into the numbers to truly grasp the significance and untapped potential of this industry. With an estimated global population of 83.7 million to 88.9 million pet dogs and 60.2 million to 61.9 million pet cats in 2020 (source: Statista), the pet industry boasts a substantial market base. Remarkably, millennials lead the pack as the largest percentage of pet owners (33%), closely followed by Gen X (25%) and baby boomers (24%), indicating long-term growth prospects (source: American Pet Products Association, 2023-2024).
Within the pet industry, pet food stands out as a significant segment, offering a diverse range of options from traditional to premium varieties. The global pet food market has demonstrated consistent growth and is projected to exceed a staggering $123 billion in sales by 2022 (source: American Veterinary Medical Association).
Financially, the pet food industry showcases its impressive profitability. Global pet food sales skyrocketed to an astonishing $123.6 billion, experiencing remarkable revenue growth of 10.9% in 2021. The USA, China, and the UK emerge as key contributors, collectively representing 53.9% of the global revenue, amounting to a substantial $66.69 billion (source: Statista). Specifically, the USA leads the pack with an astounding $53.81 billion in pet food sales in 2022, followed by China with $6.87 billion and the United Kingdom with $6.01 billion (source: Statista). These figures underscore the dominance and profitability of these markets within the pet food industry.
Major companies like Mars Petcare Inc ($19 billion revenue in 2021)., Nestlé Purina PetCare, and Hill's Pet Nutrition have reported significant revenues (source: Statista), further emphasizing the strength of the industry. These success stories provide a glimpse into the incredible opportunities that await those who are willing to venture into the pet industry.
In addition to the financial potential, there are numerous ways you can capitalize on this booming market:
By leveraging the insights about the pet industry, you have the power to unlock its immense potential and create a lasting impact. Allow your passion for pets to guide you towards fulfilling ventures and initiatives that contribute to the well-being and happiness of pets and their owners.
Trainings, Courses & Events
[Free Training Course] 7 free generative AI training courses by Google?
Discover the potential of generative AI with 7 free training courses offered by Google Cloud. Whether you're starting your AI/ML career or seeking to refresh your skills, these courses provide essential knowledge for working with this groundbreaking technology. Stay ahead of the curve and chart a remarkable path in AI/ML(machine learning) with Google's accessible and comprehensive training. Don't miss this opportunity to unleash your creativity and excel in the world of generative AI. You can access 7 generative AI training courses here.?
Join Joan Decollibus, from the State University of New York, in this free course and learn how to launch your online business successfully. You can gain insights into different business models, strategies for naming your business, creating customer personas and developing a compelling brand identity. The course will help you to stand out from competitors and build a standout website using best practices for copywriting, photography and video. On top of it you will acquire foundational knowledge of marketing and PR and be able to create a compelling pitch deck for potential partners and investors. Perfect for those starting a side gig, career changers and current online entrepreneurs. Enroll now and access the course here.
Digital Products Spotlight?
[Product App] Threads by Instagram launched: 97 million of people registered
领英推荐
Threads by Instagram team is a new app designed for sharing text updates and engaging in public conversations. Users can log in using their Instagram account and create posts of up to 500 characters, including links, photos and videos up to 5 minutes long. The Threads app has already gained over 97 million registered users (source: Search Engine Journal) which is an impressive number considering its unavailability in the EU due to regulatory concerns (source: CNBC). If your business is out of the EU, don’t delay and start discovering it.?
[Tool] Uplead: B2B Prospecting with 95% Data Accuracy I 5 leads for free
Try unlocking your power of cold outreach with Uplead—a leading B2B prospecting tool. The tool offers a vast database with over 108 million contacts boasting an impressive 95% data accuracy. They offer the first 5 leads completely free. You can dive into invaluable contact information for decision makers, enabling you to connect directly, craft personalized messages and I would suggest you also conduct A/B testing for optimization. Take advantage of the 5 free leads today and unleash the potential of your outreach strategy!
Thank you for joining me on this exciting journey! I'm thrilled to have you as part of our 'Digital Insights Digest' community.
Feel free to share this newsletter with like-minded individuals and help them unlock the valuable insights and inspiration it offers. Together, we can create a network of driven individuals dedicated to achieving business excellence.
If you have any questions or would like to discuss specific growth opportunities, I'm here to help. Let's connect and explore the possibilities for sales & marketing, digital transformation and business success.
Wishing you continued success and growth!
-Zuzana
The content of this newsletter is solely the opinion and responsibility of the author and does not represent any official association or endorsement from the mentioned organizations.?
Sources:
American Pet Products Association (2023-2024
American Veterinary Medical Association, 2018 and 2022 Pet Ownership and Demographics Sourcebook