The global pet industry is becoming increasingly competitive, with pet ownership in European countries like the United Kingdom, Germany, and France rising by over 50% since 2020.

In this episode of the Exchange, we explore the booming multibillion-dollar pet industry. With pet owners investing more in their pets’ well-being, the industry is thriving across North America and Europe. We interview Sonia Morgan, CEO of Pet Travel EU, who specializes in the transportation of pets. We also visit a dog daycare center that provides care for pets while their owners are at work and hear from Jeff Hamilton, CEO of Nestlé Purina Petcare Europe, who discusses the scale of the pet industry.

The sector is expanding rapidly, with analysts forecasting it could reach half a billion dollars by 2030.

Trends in the Pet Market

One notable growth area is pet food. Jeff Hamilton notes that as people become more conscious of their own diets, they are extending the same consideration to their pets. “Pet owners are shifting from home-prepared food to commercially available options. This trend is driving growth in the sector, particularly with the demand for lower-carbon products and more recyclable packaging. We are focusing on creating specific nutrition solutions that meet pets’ dietary needs.”

Okazoo, a pet care facility in Brussels, reflects the industry’s growth. Founded in 2010 by Karina Koche, Okazoo addresses a market need for high-quality pet care. The facility is dedicated to keeping pets engaged and well-cared-for while their owners are at work and has become a trusted name among dog owners in the city.