The pet market - United Kingdom

The term domesticated animal refers to animals that are fed, managed, regulated (for reproduction) by humans. The opposite of domestic animal is the wild or ferocious animal. There are two categories of pets: - Pet animals that are kept indoors  - Farm or farm animals that are raised on farms to produce milk, meat, eggs, etc. This study focuses only on the first category. In common parlance this term refers to dogs, cats, rabbits, fish and small birds. The global pet industry has grown rapidly as a result of many more people adopting or buying animals as members of their household. The most prosperous markets are America and Europe, but Asia is also developing rapidly. The global pet care market has been valued at $150.67 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1 percent from 2022 to 2030. It is estimated that for the next few years the pet adoption market will grow significantly for both dogs and cats but equally for fish and rabbits. Market trends are primarily a strong digitization of services, making it possible to adopt and buy additional services directly online from the various platforms. In addition, it is estimated that there is a more constant use of social media as a form of advertising.