1、2024Harris Williams Pet Sector Update2Table of ContentsSECTION IPet Sector Perspectives and TrendsSECTION IIHarris Williams Market InsightsSECTION IIIInstitutionally Backed Pet LandscapeSECTION IVHarris Williams UpdateSection I:Pet Sector Perspectives and TrendsPet Sector Perspectives and Trends Ove

2、rview2024 BACKDROP1A LARGE AND GROWING MARKET2DEMONSTRATED STRONG RECESSION RESILIENCE3HUMANIZATION IS DRIVING GROWTH OF THE PREMIUM SEGMENT5NEW PET CATEGORIES ARE EMERGING RELATED TO HEALTH AND WELLNESS4 BUT INFLATIONARY PRESSURES ARE PUTTING THIS TREND TO THE TEST6PET OWNERS CONTINUE TO SPEND MORE

3、 ON SERVICES4Pet Sector Perspectives and Trends$35B$37B$42B$50B$58B$63B$121B$28B$29B$31B$34B$36B$37B$71B$19B$19B$22B$30B$32B$32B$66B$10B$10B$8B$10B$11B$12B$24B$92B$95B$103B$124B$137B$144B$279B 201820192020202120222023E2030EA Large and Growing MarketU.S.pet industry expenditures have grown by$50B ove

4、r the past five years,driven by growth across all core segments,with growth expected to accelerate and add an additional$135B in expenditures by 20309%+CAGRPet Food and TreatsVet Care/Product SalesPet Supplies/OTC MedicineOther Services1Sources:American Pet Products Association,Pet Food Processing;I

5、RI1)Other services includes pet boarding,grooming,insurance,training,pet sitting and walking,and all other services outside of veterinary care1TOTAL U.S.PET INDUSTRY EXPENDITURES10%CAGR510%CAGR 2023E-2030E4%CAGR 2018-2023E11%CAGR 2023E-2030E11%CAGR 2018-2023E10%CAGR 2023E-2030E6%CAGR 2018-2023E10%CA

6、GR 2023E-2030E13%CAGR 2018-2023EPet Sector Perspectives and TrendsA Large and Growing Market11)IBIS World2)Forbes3)Nationwide4)Packaged Facts5)PwC6)Euromonitor Passport7)Verified Market Research6Pet Sector Perspectives and TrendsDEMOGRAPHIC SHIFTSMillennials and Gen Z are getting married later,ownin