Assuming that the Canadian economic outlook stays positive over the forecast period, pet services can be expected to be the fastest growing category in the pet industry, according to an article by PETS International .
Pet travel, including pet hotels, travel agencies and accessories (such as car seats), will likely continue to drive growth in the sector, buttressed by a strong Canadian dollar and the resulting increase in travel to the United States and other destinations, Euromonitor predicted in the article.
Other less prominent pet services likely to benefit from increasing disposable income among pet-owning households include medical services, pet insurance, pet spas, pet masseuses, behaviorists who treat unruly pet behavior, pet sitters and pet 'communicators', or psychologists, according to the article.
According to Euromonitor, there will be businesses opportunities for any company that is able to successfully market its products to consumers wishing to pamper and indulge their pets.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.