Pet (Companion Animal) Industry

The population of dogs and cats in the United States is over 160 million, which penetrates close to 60% of US households. The pet population has grown more than twice as fast as the human population over the past 10 years and annual spending on the companion animal industry has grown at a 7% CAGR since 1994 compared to 5% consumer spending growth in the US during the same period. We believe that feeding this growth in population and spending is a trend towards the humanization of animals. With the ubiquity of products and services targeting pets (and their owners), it becomes increasingly easy to think of an animal companion as a member of the family. The AVMA reports that 49.7% of the pet owning population consider their pet a “family member”. Duane Street Capital is actively pursuing investment opportunities pet industry.