The Pandemic Effect: How COVID-19 Has Boosted the Pet Tech Industry and Changed Consumer Behavior

The Pandemic Effect: How COVID-19 Has Boosted the Pet Tech Industry and Changed Consumer Behavior

The COVID-19 pandemic has had a significant impact on the pet adoption and care trend, which has resulted in a more solid foundation for the pet tech market. Many countries implemented strict lockdowns and social restrictions, resulting in cases of mental health and depression among people who were stuck inside their homes with little-to-no social interactions. Adopting companion animals has helped most of these people cope with mental health issues and tackle depression. This has led to a surge in spending on pet care products during the pandemic, fostering the global pet tech industry size, which is expected to reach $20 billion in value by 2027.

The pandemic has brought forth a paradigm shift in the pet humanization trend, wherein more consumers are inclined towards providing their pets with human-like products or experiences. The evolving consumer behavior has allowed pet industry players to rollout a slew of innovative products to the market, gearing itself up for the future of pet care technologies.

With ongoing advancements in IoT, AI, and machine learning, new pet tech innovations are being made on an unforeseen level. These innovations are going hand-in-hand with the ongoing pet humanization trend, with a majority of consumers welcoming them with open arms. The coronavirus pandemic has also allowed the mHealth sector to bring veterinary care into the fold as well. The industry saw vets taking to the digital sphere as medical consultants to effectively help owners take better care of their animals and address any non-emergency medical needs from the safety of their homes.

India is taking up a notable share of the growth in the pet care market and the pet tech industry, with smart GPS collars, smart tags, and smart harnesses witnessing a gradual demand. The gravity of the business growth challenge is likely to diminish in coming years, given the proclivity of younger pet owners to make quality-of-life purchases for their pets. Another factor that is expected to alleviate the risk of the aforementioned challenge is the growing trend of adopting strays.

It is safe to say that the pet industry, and by extension the pet tech market, has found it difficult to find distinguished growth on a global level. However, it appears that the COVID-19 pandemic has not been as daunting of a challenge for the market as it has been to other industries. The question of the hour is whether the industry would be able to sustain this wave of growth it has built up over the forthcoming years, and how it would react to changing consumer perceptions, and people returning back to their pre-pandemic lifestyles.

Back to blog