Love Unleashed: Exploring the Pet Industry's Rise Through the Growing Human-Animal Bond

As humans, we have a deep love for our pets. That should come as no surprise: if you’ve been online for any amount of time, you know that people gleefully show off their pets. As it turns out, that love translates to a pretty hefty dollar amount as well. According to Bloomberg Intelligence, the global pet industry is currently valued at $320 billion and is expected to grow to almost $500 billion by 2030. This growth comes in part due to a number of recent innovations, from pet-centric tech devices to human-grade pet food to pet-friendly public spaces. These varied services and experiences highlight just how valued the human-animal bond is, and how we are collectively making the world a more welcoming place for the animals in our lives.

One area that has seen much interest in the pet industry is smart pet devices. Just as there has been a surge of smart devices designed to help people track their health, we’ve also seen a similar trend in pet care: this year’s CES saw multiple pet-centric wellness trackers, most notably Invoxia’s smart dog collar, which provides tracking of real-time movements and collects data about a dog’s health, which can then be shared with a vet for diagnostic purposes. A mini version, Minitailz, also pairs with a smart pet tracker, allowing for real-time biometric monitoring of a pet and uses generative AI to indicate when a pet might be exhibiting stress. Additionally, Samsung announced that its Galaxy SmartTag2 devices can now be used for pet tracking, further expanding pet parent’s options for monitoring their animals’ health and well-being.

Health monitors aren’t the only smart pet devices on the market either: Pawport recently showed off a smart pet door that opens and closes based on your dog's proximity to the door by detecting a tag on your pet's collar. This allows pets to more easily get around without sacrificing home security. Several other smart home devices designed around pet care are also hitting the market, from security cameras and temperature sensors to automatic pet feeders and smart sprinklers. Then, there are devices like robot cat litter boxes, which eliminate much of the hassle of cleaning up after your pet.

Another subject that’s getting a lot of attention in the pet industry centers around food. Naturally, pet food is always in high demand, but there’s been a growing interest in higher-quality food and easier access. Pet parents are increasingly turning to gourmet “human-grade” pet food, made from recognizable ingredients chosen to deliver their ideal diet. We also have companies like Chewy that deliver pet food and other products directly to pet owners’ doors. There have even been several specialty stores that sell unique pet treats, such as dog-friendly ice cream shops and bakeries, offering pet parents new opportunities to spoil their pets.

Most importantly, we’re seeing a variety of experiences being increasingly tailored to pet parents’ unique needs. With isolation and anxiety an ever-present issue for many people, some companies are experimenting with pet-inclusive workplaces, where dogs, cats, and other pets can join their parents in the office. Such pet-friendly accommodations are also being offered by airlines, with some offering canine champagne, dog-friendly entertainment options, and even a belly-rub button for our four-legged pals. This doesn’t even hint at the variety of unique bonding experiences offered to pet parents either, from pet cafes to canine adventure trails to dog yoga. Of course, there is also Pet Partners, which offers essential skills for handlers (pet parents) and their animals to serve as therapy animal teams, allowing pet parents to further their bond while supporting their community.

The sheer variety of offerings for pet parents today demonstrates the tremendous value of the human-animal bond. Our pets make our lives better, so we work to give them the best lives possible in return. It’s this love of our pets that is shaping and driving the pet industry’s future and creating a more welcoming place for our pets in the process.