OPCO Has Its Eyes Set on Fast Growing High-End Pet Care Industry
One of the few industries that not only survived the recession but continued growing at a steady pace, the pet care market is expected to keep up the same trend as it expands and diversifies into a wider, more high-end range of products and services. The industry has been growing year-on-year over the past two decades, to an estimated $62.74 billion in 2016, according to American Pet Products Association statistics (http://nnw.fm/ny07H
), and market experts predict this trend is very likely to extend into the future, mostly as a direct result of a growing culture of pet anthropomorphism and a tendency to pamper pets with only the highest-quality products and services, from food and toys to medical care and grooming.
As more pet owners are beginning to humanize their furry friends and treat them as members of the family, sometimes even spending considerably more money on their food and general care products, businesses in the market are starting to take notice. The range of high-end products available in the niche is therefore wider than ever, with an emphasis on top quality ingredients and materials. In this landscape, innovative pet businesses such as Ohio-based OurPet’s Company (OTCQX: OPCO) can only thrive through its commitment to offering only the best and highest quality products.
Pet food businesses were the first to join the high-end pet care market train, but there is also a growing demand for super premium products and services, including luxurious pet spas and hotels targeting affluent pet owners, pet portrait photography, and pet behavior consulting – which indicates a growing concern among pet owners to actually understand their pets and learn how to correctly interpret their behavior and reactions.
OurPet’s Company is tapping into a market segment that has much room for further development – that of pet supplies and OTC medicine, which was estimated at $14.98 billion in 2016. For comparison, the pet food market segment raked in an estimated $24.01 billion last year. The company is targeting the high-end pet care market via an impressive range of feeding accessories, toys, waste management products and high-tech items that are designed to help owners develop a closer bond to their pets by closely monitoring their health and behavior, even from a distance. Its unique line of proprietary products, distributed both nationwide and overseas, confirms the company’s commitment to developing one-of-a-kind, premium solutions that are unparalleled on the market.
Via an impressive product roster that ranges from highly innovative toys to smart waste management solutions such as the OurPets® Switchgrass Natural Cat Litter™ (http://nnw.fm/yK3A9
) – a high-quality, all natural and fully biodegradable litter, the company’s place on the high-end pet care market seems nothing short of set in stone. In addition, OurPet’s is one of the few companies in the industry that is focusing on incorporating smart technology into the lives of pets and their owners, via the OurPets® Intelligent Pet Care™ product line (http://nnw.fm/gb2PK
). Consisting of several intelligent pet health monitoring products using Bluetooth® technology, the Intelligent Pet Care™ line is designed to allow owners to constantly monitor their pets’ behavior through a smartphone app. The product line includes smart feeding and watering solutions, an intelligent, self-cleaning litter box and related Bluetooth® and Wi-Fi accessories.
For more information, visit the company’s website at www.OurPets.com