Daily Facts - Day #38: Billion dollar niches - Pet health
Here's a fact: people are spending billions of dollars every year making sure their dogs and cats are staying in tip top shape.
This massive industry generates more than $21 billion per year in revenue, with more than 75 million dog owners spending money every single day.
Building your business around helping pet owners keep their animals healthy and happy is very lucrative, if you do it right.
There are a wide range of business models and sub-niches inside of the larger pet health industry, so competition is relatively limited.
There may be large players in the industry that are working all possible angles, but choosing a very specific angle will allow you to target it even better and take your portion of the massive $21 billion yearly revenue that’s available.
According to BrandBuilders ...
- More than 46 million people in the United States currently own dogs, with nearly 40 million people owning cats, and a remaining 21 million people owning other animals.
- More than $21 billion is spent on pet food alone, every single year.
- Of the 46 million people that own dogs, they claim more than 75 million total dogs nad of the 40 million cat owners, they claim even more, at roughly 90 million total cats.
- The pet health and food industry is expected to grow by 6% every single year.
- Online sales are expected to grow by more than 43% over the next 10 years!
- Organic and all natural pet food accounts for more than 40% of all products sold online!
- Pet owners spend more than $15 billion per year on grooming supplies and toys!
- Core consumers are 54% female.
This industry is prime for the taking by building an affiliate based website, and there is more than enough information you could provide to keep you busy for years.
In my opinion this is definitely a gem. A huge one ...
Do you agree?