Author: Indah

Pet Food Market to grow by USD 35.75 billion from 2022 to 2027; The growing demand for organic pet food drives the market

Posted on by Indah
NEW YORK, Sept. 5, 2023 /PRNewswire/ — The pet food market size is expected to grow by USD 35.75 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of about 5.71% during the forecast period. Growing demand for organic pet food is notably driving the pet food market. However, factors such as Increasing instances of pet allergies among pet owners may impede market growth. Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format…
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Pet insurance market size to grow at a CAGR of 31.41% between 2022 and 2027 | North America will account for 61% of the market growth

Posted on by Indah
NEW YORK, Nov. 2, 2023 /PRNewswire/ — According to Technavio, the global pet insurance market size is estimated to grow by USD 19,852.9 million between 2022 and 2027. The market is estimated to grow at a CAGR of 31.41% during the forecast period. By geography, the global pet insurance market is segmented into North America, EuropeAPAC, South Americaand the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global pet insurance market. North America will account for 61% of the market growth during the forecast period. The region…
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Chewy reinstated at Underperform by BofA on weak pet market By Investing.com

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BofA reinstated coverage of online pet retailer Chewy (NYSE:) with an Underperform rating and $16 price target in a note on Thursday. Analysts say the weak pet market is pressuring fundamentals for the company. “Chewy is a leading player in pet eCommerce. However, weakening industry fundamentals are pressuring revenue growth and margin expansion, which is likely to continue to weigh on valuation,” they explained. “Over the past decade, the pet market has been one of the most consistent growers, but a significant decline in pet adoptions, inflation, and trade-down activity are now impacting trends,” analysts added. The investment bank expects…
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German pet food sales hit billions

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WIESBADEN, GERMANY — The Industry Association for Pet Supplies (IVH) and the Central Association of Zoological Specialists in Germany (ZZF) recently released new data detailing pet trends throughout Germany. The data detailed the growth of the pet care and pet food markets and shifting pet populations throughout 2022. The survey analyzed responses from 5,000 German households. Felines remain king According to the data, there are 34.4 million pets, excluding fish and reptiles, throughout German households with 46% of all households owning at least one pet. Additionally, 14% of all households throughout the country own at least two different types of…
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This dog is helping Maine biologists protect turtles from illegal pet markets

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Sequoia Dixon shows off two wood turtles that her research dog June, a yellow lab, found in a Maine stream this spring. (Courtesy of Sequoia Dixon) Maine wildlife biologists are using a new approach to track wood turtle populations and keep the critters from being sold illegally as pets. Stories of illegal wildlife smuggling are most common in Asia, Africa and South America, where birds and animals such as rhinos and elephants are regularly poached and sold in markets for millions. But turtle smuggling is on the rise in the United States, with traffickers often crossing international borders to sell…
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Gumtree enters pet insurance | Insurance Business Australia

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Gumtree enters pet insurance | Insurance Business Australia Insurance News Gumtree enters pet insurance Partnership driven by record growth within pets vertical Insurance News By Roxanne Libatique Major online pet marketplace Gumtree is targeting the Australian pet insurance space through a team up with petinsurance.com.au. The move follows Gumtree’s record growth within its pets vertical, with 1.5 million unique monthly users within the vertical and over 700,000 pet-related listings in 2022. Entering the pet insurance space Gumtree says that although 69% of households in Australia have a pet, only 17% of dog owners and 12% of cat owners have pet…
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Lake Country, BC animal rescue facing $75K fine after 85 distressed animals seized

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The BC SPCA is recommending charges against an animal rescue agency in Lake Country, BC The Warren Peace Bunny Sanctuary has been in business for close to 20 years now. During that time, the rescue agency has brought in abused, neglected or unwanted animals that needed a second chance. However, after recently receiving a complaint, BC SPCA officers visited the bunny sanctuary and said they came across several animals in distress. 1:53 Kelowna BC SPCA branch prepares for annual Fur Ball Notices were handed down to the owners after the inspection, ordered the rescue agency to relieve the animals of…
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Manitoba Winter Fair should halt ‘inhumane’ sheep wrangling, calf events: animal rights groups

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Two animal welfare groups are calling on one of the largest agricultural fairs in Canada to cancel events they say could hurt animals. The Winnipeg Humane Society and Animal Justice want Brandon’s Royal Manitoba Winter Fair to cancel what the Humane Society called in a social media post its “inhumane sheep wrangling and calf scramble events.” The events involve youth participants chasing, tackling and wrestling animals in an arena “in the name of entertainment,” according to Animal Justice. Kaitlyn Mitchell, the director of legal advocacy for Animal Justice, said such competitions put animals at risk of physical injury and cause…
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