How did the Pandemic affect the Pet Industry?
The pandemic was a devastating time for many. However, it also had a major impact on the pet food and pet bedding industry. It was estimated that over 1 million dogs and cats were lost during this time because they did not have access to proper food or shelter.
It is important to note that many pet food companies decided to stop producing pet food during this time since they were unsure of when they would be able to get raw materials again. This meant that there was a shortage of pet food at stores across the country.
In addition, there were many people who were unable to afford to purchase new bags of food for their pets after spending their money on their own basic needs such as water and shelter. Pet bedding companies were also affected by the pandemic.
People simply did not have enough money left over after buying basic necessities to purchase things like dog beds or cat beds for their pets. This meant that many people had no choice but to make their own homemade beds out of old clothing or blankets so that they could provide adequate warmth for their animals.
Pet food companies were among those hardest hit by Covid-19 because they rely so heavily on human consumers for their business. Many pet food companies were forced out of business when their customers died from Covid-19 or became too sick to buy dog food or cat food. But some companies adapted quickly enough to survive this initial downturn, albeit with reduced sales volumes, and offer new products that cater specifically to pets instead of humans.
The pandemic was so devastating that it caused many companies to cease operations completely. Many of these companies were pet-related businesses, and they were forced to close their doors due to a lack of demand from consumers.
This left many people looking for alternative ways to care for their pets, which caused a spike in sales for other pet-related products like pet bedding and food.
How have Pet Companies fared Post-Pandemic?
A few months after the pandemic started to subside, many pet owners began returning to their normal routines and resumed buying pet supplies. However, this didn’t last long as most countries imposed strict regulations on animal ownership following the pandemic outbreak as a way to prevent the further spread of disease from infected animals.
These regulations limited how many pets an individual could own and required that all pets be vaccinated against certain diseases (like rabies). This meant that even if someone wanted more than two cats or dogs they would have difficulty finding somewhere they could legally own them.
The pandemic had a significant impact on the pet food industry. The Association of American Feed Control Officials (AAFCO) has estimated that the global pet food market was valued at $77 billion in 2018. The North American market accounted for nearly half of this amount, with an estimated value of $37 billion.
The price of raw ingredients increased dramatically due to shortages and supply chain disruptions caused by the pandemic and resulting economic collapse. This drove up prices for dog and cat owners alike, making it more difficult for lower-income households to afford their pets’ needs.
On the flip side, the demand for pet food increased significantly as people adopted animals from shelters and rescue groups or purchased abandoned pets from other families who lost their own pets during the pandemic or were unable to care for them after losing their jobs or homes because they were ill themselves.