Reported 8 months ago
More people are opting to keep pets for companionship, leading to increased spending on pet products. Facing challenges of declining birth rates and aging populations, people are turning to pets for comfort, driving demand for pet products. With the rising trend of pet ownership, especially among high-income individuals, the pet therapy market is seen as a new blue ocean for businesses like Eternal Fortune International Biotech, Excellent Biomedical, Goken Pharmaceutical, and even optoelectronics company RayLife Optoelectronics. The pandemic has further boosted the pet industry, with sales of pet strollers surpassing baby strollers in some markets. As global demand for pet medication and treatments is projected to grow significantly, companies are expanding their offerings to cater to this growing market.
Source: YAHOO