The pet market in the pandemic

During the pandemic period, several sectors were affected negatively, but some of them managed to resist and even strengthen themselves, as is the case of pet products market, which only in 2020 managed to grow by 13.5%, according to a study carried out by the Pet Institute Brazil, considering the first three quarters of 2020.

It is true that the economic crisis has increased the number of pet abandonments, as the guardians began to have difficulties in guaranteeing their own food, unfortunately they cannot offer the minimum amount for their pets. However, in contrast to this sad reality, there was also a “boom” in relation to the new tutors, driven mainly by people who, when feeling alone, due to social isolation, decided to adopt a pet.

In addition to the factor reported above, the market being considered essential during the pandemic, helped keep the sector moving, as veterinary clinics and stores were able to keep their doors open. Another reason that accelerated its growth was the inclusion of the category in the digital market, which from 2017 to 2020, tripled the number of sales, according to Exame magazine.

Brazil already appears as the 3rd largest consumer market for pet products, just behind the United States and China, there are about 142 million pets across the country. According to a survey by Euromonitor International, the growth perspective is 87% until 2026, that is, it is a sector that in 5 years tends to almost double in size. Another very interesting number was released by the digital bank, Nubank, which noticed a 73.1% increase in spending on the pet segment in 2020.

Experts already believe that this growth curve will remain even after the pandemic, as other services tend to be more explored, such as accommodation and pet caretakers. Based on the above panorama, it is clear the strength that the segment already has and the potential for diversification of a market that still has a lot to be explored.

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