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Industry Landscape
The pet care industry is experiencing robust growth, driven by increasing pet ownership, humanization of pets, and technological advancements. Digital identification solutions and smart pet accessories are gaining traction, offering enhanced safety and convenience for pet owners. Sustainability and premiumization are also key trends shaping market dynamics.
Total Assets Under Management (AUM)
Pet Ownership (Households with Pets) in United States
~66% of U.S. households own a pet (86.9 million households) in 2024.
(2.8% (2020-2024) CAGR)
This growth is primarily driven by:
- Increased pet adoption during the pandemic.
- Growing awareness of pet benefits.
- Millennials and Gen Z driving new pet ownership.
Total Addressable Market
147 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Advanced GPS Tracking & Miniaturization
Further miniaturization and increased battery life in GPS tracking devices could allow for integration into even smaller pet accessories or direct implant, offering continuous, real-time location data.
AI-Powered Pet Monitoring
AI-driven cameras and sensors can monitor pet behavior, health metrics, and even predict potential issues or distress, providing proactive alerts to owners.
Blockchain for Pet ID & Health Records
Decentralized blockchain ledgers could create tamper-proof and universally accessible pet identification and health records, improving data security and interoperability across vets and shelters.
Impactful Policy Frameworks
Pet and Women Safety (PAWS) Act (2018)
The PAWS Act expands federal domestic violence laws to include protections for pets, allowing victims of domestic violence to include their pets in protection orders.
This policy increases awareness of pet safety and the importance of pet identification in crisis situations, potentially boosting demand for reliable ID solutions like Chippit's.
Preventing Animal Cruelty and Torture (PACT) Act (2019)
The PACT Act makes certain acts of animal cruelty, such as crushing, burning, drowning, suffocating, impaling, or otherwise subjecting animals to serious bodily injury, a federal felony.
While not directly about identification, this act underscores the growing legal recognition of animal welfare, reinforcing the market for products that ensure pet safety and prevent harm.
Veterinary Medicine Mobility Act (2014)
This act clarifies that veterinarians can transport and dispense controlled substances outside of a registered location for the purpose of providing veterinary care.
This policy indirectly supports the pet care industry by facilitating mobile veterinary services, which can increase the reach of pet health monitoring and potentially highlight the need for accessible pet identification and health records like those provided by Chippit.
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