Author: Stockhouse.com

VIRGINIA BEACH, VA / ACCESSWIRE / January 31, 2024 / The number of US households with pets has been trending upwards for decades, with more than 5 million more pets in the US than before the pandemic. Beyond the pandemic-driven boom, trends persist, driven by changing social dynamics as well as technological advances. According to Morgan Stanley, the pet services industry is set to grow at a compound annual growth rate (CAGR) of 8% over 2022-2030, reaching an expected total $277 billion. The average annual household expenditure per pet can grow from $980 in 2020 to $1,292 in 2025 and…