Stocks to Benefit From Pandemic Pet Boom

These companies are collecting on a hundred-billion dollar industry. 

Vikram Barhat 21 July, 2021 | 4:39AM
Facebook Twitter LinkedIn

Dog and cat

Long and lonely lockdowns during the global COVID-19 pandemic forced people to make some adjustments to cope with the stress of life in isolation. In particular, the need for a companion led many people to adopt pets, causing a pet boom in 2020.

According to an American Pet Products Association (APPA) report, about 67% of U.S. households have pets, which equates to 84.9 million homes. The report says Americans spent more than US$103 billion on pets in 2020, a figure that’s estimated to climb to more than US$109 billion in 2021. Globally, the pet care industry is expected to grow by over 40% to reach from US$190 billion in 2018 to US$270 billion in 2025.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free
Facebook Twitter LinkedIn

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
IDEXX Laboratories Inc608.07 USD-3.68Rating
Tractor Supply Co225.33 USD-0.60Rating
Zoetis Inc Class A222.04 USD-0.68Rating

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.

© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy