Pet Market Bulletin: Assessing Coronavirus Pandemic Impacts on the Pet Industry


Pet Market Bulletin: Assessing Coronavirus Pandemic Impacts on the Pet Industry

Assessing Coronavirus Pandemic Impacts on the U.S. Pet Industry

The socio-economic impacts of the novel coronavirus pandemic are unprecedented in modern U.S. history and remain unpredictable, but some things are already certain, including economic volatility at a level not seen at least since the Great Recession.

In relation to the pet industry, nonetheless, a look back at the Great Recession of 2008-2009 as a point of comparison is somewhat reassuring, especially in the longer-term. Throughout the Great Recession, pet ownership rates for dogs and cats—the bedrock for the pet industry—remained solid.

In addition, pet market spending is famously resistant to recession. From 2011, when the economy was climbing out the great recession, through 2017, when the Great Recession was comfortably in the rear-view mirror, ongoing Packaged Facts surveys showed more constancy than fluctuation in the percentage of pet product shoppers who either agreed, disagreed, or were neutral on the question of whether they were “spending less on pet products because of the economy.” 

With market patterns during and after the Great Recession as context, this white paper provides Packaged Facts’ initial assessment of the coronavirus pandemic’s likely effects on the U.S. pet market, assuming a best-case scenario of a short but sharp socio-economic impact.

Register to download this important white paper.

Insights from the white paper are based on Packaged Facts’ upcoming U.S. Pet Market Outlook 2020-2021. To preorder the report contact Research Specialist Jeff Miller at jmiller@marketresearch.com. Find more market research on pet products and services by visiting https://www.packagedfacts.com/pet-products-services-c124/.

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