Australians are spending staggering sums on pets - over $30 billion on cats and dogs alone - and increasingly on pills to keep them happy.
Each day, Gaynor Andrew’s dogs take a vitamin supplement to support their digestion. And the Cavalier King Charles Spaniel breeder encourages her new puppy owner clients to consider supplements for their own four-legged friends.
“We spend on our pets as much as we do on anyone,” he says. “For us, it’s about providing those natural healthcare solutions that you can build into the daily routine.”Louie Douvis Australia’s multibillion dollar pet supplies business was growing at around four per cent annually prior to the pandemic but revenue growth has more than doubled between 2020 and 2021, according to industry research firm IBISWorld.IBISWorld senior analyst Tim Calabria says medicines, wellness products and ‘fancy’ pet foods have boomed throughout this time, with dogs and cats not the only growing markets.
Blackmores is also tracking growing pet ownership rates overseas, including in its key export market of China. More than 10,000 animal supplement products are already listed on the Chinese e-commerce website Alibaba. Meanwhile, over at Australian founded online animal pharmacy Pet Chemist, there are also supplements for lizards and a probiotic for birds. Earlier this year, ASX-listed dog sitting business Mad Paws bought Pet Chemist in a $25 million deal.
“It’s a big market, and it’s fast growing. The online penetration is still low, but that’s also fast growing.”
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