The pet industry continues to grow ignoring the recession. The industry’s business has tripled in the 2000s. The reason behind of this is the growing number of pets.
Here in Finland 40% of the households have a pet. That includes over 650 000 dogs and even more cats. It’s more than ever, so it’s not a surprise that also in Finland the pet industry is a million business. The revenue stays close to EUR 810 million every year. One of the best known veterinary equipment suppliers, Musti & Mirri reported that their sales has increased by 25-30% of the total momentum.
For many of us, pets are a part of our lives and we are willing to spend more money on them than for decades. Today even buying the pet might cost a small fortune. If you want a breed dog, you have to pay between 700 – 2000 euros depending on the breed. Even the many of the cat breeds cost over 600 euros. But regardless of whether you have a pet of breed or mixed breed, that furry darling of yours will still spend your money.
Turku University of Applied Sciences conducted a study of pet owners’ costs. The study showed that the biggest expenditure is pets’ food. In all, the owners consumed 320 million by feeding their pets in one year. The next biggest expenditure is the veterinary fees, which take 220 million. And everywhere you see a dogs with rainwear or ribbons, those cost too, and quite a lot. Many Finnish pet fancier have had a successful careers by using advantages of markets. They usually start by making dogs’ outdoor wear or customize collars etc. They sells the products online or make contracts with local pet stores. Every dog owner in Finland knows Hurtta –products, which has been a big success worldwide. Some already old and well-known brands, such as Rukka, have also realized that opportunity in the field.
In Finland, the field’s market is still small especially when in America in 2012 the pet industry revenue was USD 52,87 billion.