IT’S RAINING CATS, DOGS & VETS
Source: Switzer Daily (Extract)
Posted: June 3, 2021
Even before the pandemic spurred the panic puppy purchasing phenomenon, Australian pet ownership was on the rise because of the powerful demographic trend to single occupant households.
With pooches and moggies and other random beasts displacing children on the family hierarchy, pet care expenditure has risen even more sharply.
According to an Animal Medicines Australia survey, two-thirds of Australia householders owned a pet in 2019, with 29 million animals registered (more than the two-legged population of 25 million).
Not surprisingly, dogs accounted for 5.1 million of this national menagerie, followed by cats (3.8 million). Canberra householders are more likely to own dogs – so much for fat-cat public servants – while South Australians are more likely to own (crow eating) cats.
Fish might be low reward pets– albeit low maintenance – but we still own 11.3 million of them. And 2% of households owned pets “such as horses, goats, cows, alpacas and hermit crabs.”
According to data cited by the recently listed Mad Paws (MPA), Australians spend $13 billion on their pets each year. This includes $3.9 billion on food, $2.6 billion on vet care and $1.4 billion on products.
While the supermarket shelves are laden with gourmet pet delights, investors aren’t exactly spoiled for choice when it comes to listed exposures to one of the most promising growth sectors.
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