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Animals & Pets
What is the pet industry?
The pet industry focuses on the care, distribution, and breeding of companion animals. It is a time-honoured sector with high revenue and stability. This is due to the popularity of pet ownership. It especially applies in recent years. For instance, it has recently reached a market value of $246.66 billion. The industry features several sectors, including ones related to equines and marine life. Examples include pet services such as veterinary clinics, pet sitting, and training.
Is the pet industry innovative?
It is among the sectors that are comparatively quick to adapt to diverse challenges. This is because the industry is among the segments that place a prime focus on innovation. This is due to the importance of remaining up-to-date with the latest pet and animal care. As a result, enterprises often present or research novel solutions to diverse challenges. It enables such organisations to remain competitive. Usually, such novel solutions are presented at various trade expos. These tend to vary in their organisational periods. For instance, they may be annual events or biannual exhibitions. Often, they attract over hundreds of thousands of participants and occur in various countries. Examples include the Kingdom of Belgium and the Federal Republic of Germany. They similarly feature the French Republic.