Pet News Roundup, March 28

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Happy Friday! This week’s edition brings you a quick dive into the latest pet industry news. Plus, we’ve got something new! Every Friday, we’ll spotlight trending pet products, industry insights, and interesting finds.

Last week, we highlighted Pet Madness’ US$15,000 AI-powered custom diamond collar. Today we’re highlighting rosy spending forecasts for the US pet sector, despite macroeconomic uncertainty.

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🐾 Corporate News, Deals & Investments

• Swedencare acquires UK animal health specialty pharmaceuticals company Summit Veterinary Pharmaceuticals

• Franpos Partners with Fundbox to launch Franpos Capital to simplify access to working capital for pet industry retailers

• Dial A Vet expands into Canada, USA and UK

• Mars promotes two staff to regional president roles within its Pet Nutrition business 

• Wag! reports fourth quarter and full year 2024 results

• Chewy announces fiscal fourth quarter and full year 2024 financial results

• J.M. Smucker to invest US$52-mil. in milk-bone facility expansion

🐾 Product News

• BioCraft gets EU green light to sell animal cell-cultured ingredients in pet food

• Cesar Millan partners with Xcel Brands to launch pet brand

• French fashion brand APC launches first pet accessories line, APC Toutou

• The Pets Table partners with Walmart to expand access to healthy air-dried dog food

🐾 In other news

• US pet food sales hit US$65.8 billion in 2024, up 2.1%

• Pet cloning soars in popularity in China as owners told they can defy death

• Global Pet Expo 2025 kicks off in Orlando, FL

• Fourth annual Shanghai PetJoy Fashion Week to run from March 28-30 

🐩 Pet Sector Focus 🐈️ 

The pet sector will continue to be a bright spot in the consumer industry, according to Bridgepoint Investment Banking’s Q1 Consumer Industry & Market Update.

Total U.S. pet expenditure is forecast to grow at a compound annual growth rate (CAGR) of 6% from 2025 to reach US$190 billion in 2028. However, this is lower than a CAGR of 8% from 2018 to 2024.

The pet industry is expected to see “significant” M&A and capital activity despite broader macroeconomic concerns and uncertainty over tariffs outlook.

Key themes:

🐕️ Over 8 million pets were adopted during and after the pandemic;

🍪 Humanisation of pets driving demand for premium and specialty food and treats;

💵 The pet services sector (e.g. boarding grooming) remains highly fragmented and represents an attractive acquisition opportunity;

💰️ Younger cohorts are increasing pet ownership faster than older generations, with Gen Z outspending other generations;

📈 As pets are more frequently considered “family members,” the industry should remain resilient even in an economic slow down;

🫰 “Petflation” was mitigated in the second half of 2024 and into 2025, but still remains elevated versus broader inflation metrics.

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