Americans love to spoil their pets; and with the innovative product manufacturing options available, it’s easy to see why. The American Pet Products Association (APPA) estimates total pet industry spending will be over $69 billion in 2017. That figure is up $2.25 billion from $66.75 billion the previous year. The pet care industry has been growing steadily since 1994 when total US pet expenditure were “just” $17 billion. According to the Bureau of Labor Statistics the industry is expected to see an above average job growth percentage of 11% between 2014 and 2024. One of the best venues to see what’s new and exciting in the pet industry is the SuperZoo Pet Tradeshow. This year, ITI Manufacturing is proud to be an exhibitor at SuperZoo in Las Vegas on July 24th-27th.
Product Manufacturing Trends driving the industry are:
- Humanization – Pets are part of our family, and more people are treating their pets like humans.
- Premiumization – Creating higher quality, premium products for our pets’ changing needs.
- Health benefits to Humans – It’s well-documented that having a pet increases our well-being, can reduce blood pressure and anxiety.
- Demographics – Baby boomers have tended to replace their children with pets once the kids are grown and moved out.
- Millennials – Possibly the first generation to grow up viewing pets more like humans than animals.
About 56% of households in the US have one or more pets. One leading market research firm estimates that the U.S. pet industry’s net worth will reach $96 billion by the year 2020.
The humanization of pets has the greatest impact on the industry. From better pet food, to pet technology, pet lifestyle (pets increasingly go everywhere with us), and the wide variety of colors, styles, and designs of products that fit the owner’s vision of their pet’s “style”; the trend continues to be on the upswing. With the popularity of small dogs, partly due to the urbanization (apartment, condo, and loft living) of the millennials, it should come as no surprise that premium food, toys, and pet care product manufacturing targeting owners of small dogs are currently selling extremely well. Plus, as modern medicine advances, more pets of all sizes are living longer, healthier lives. The increase in the sales of supplements that help our older pets live longer, healthier lives show no hints of slowing down.
The trends driving the industry are many of the same trends that call for increasing diversification, as well as flexibility in product manufacturing. The more consumer demanded options (colors, styles, and designs of products), the more options a company needs to offer. This diversification can cause heartburn if the manufacturing situation is not cooperative, fast moving, flexible, and reliable. When it comes to pet product manufacturing, the best way to keep control of those “running changes” to existing products, is to have on-site representation at the factory looking out for your interests and to ensure the consistent quality of production. When going off shore to find a lower cost, be sure you’re not taking a chance with your business. While consumers expect choices in product, they also demand consistent quality and availability.
If you want to ensure that product manufacturing is to your specifications, and that they are tested and inspected to your wishes, you should do yourself a favor and contact ITI Manufacturing. ITI has been manufacturing a wide variety of pet products for many years. Our professionals have the knowledge, expertise, and networking relationships necessary to ensure that the American businesses we work with have the right factories manufacturing their products. With 43 years of experience in China product manufacturing and throughout eastern Asia, as well as our no manufacturing defects guarantee, there’s no downside to working with ITI.
You owe it to yourself to contact ITI Manufacturing and let us show you what we can do. The call, the evaluation, and product manufacturing quote are all free. Contact us for more information at (281) 242-7030.
Will you be at SuperZoo 2017? If so, be sure to stop by our booth #4520 and speak with Mike Stewart and Jeff Smith. Or you can call Mike during the show at 855-912-7758.
For more information, or to register for SuperZoo on July 24th – 27th in Vegas, visit: http://www.superzoo.org/.