US Stocks to Benefit From Pandemic Pet Boom

These companies are collecting on a hundred-billion dollar industry. 

Vikram Barhat 28.07.2021
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Dog and cat

Long and lonely lockdowns during the global COVID-19 pandemic forced people to make some adjustments to cope with the stress of life in isolation. In particular, the need for a companion led many people to adopt pets, causing a pet boom in 2020.

According to an American Pet Products Association (APPA) report, about 67% of U.S. households have pets, which equates to 84.9 million homes. The report says Americans spent more than US$103 billion on pets in 2020, a figure that’s estimated to climb to more than US$109 billion in 2021. Globally, the pet care industry is expected to grow by over 40% to reach from US$190 billion in 2018 to US$270 billion in 2025.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
IDEXX Laboratories Inc663.45 USD0.27Rating
Tractor Supply Co209.42 USD2.12Rating
Zoetis Inc Class A202.77 USD-0.58Rating

About Author

Vikram Barhat  is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.

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