Barron's | June 02, 2019
Barron’s Jack Hough says the U.S. pet economy is “projected to expand by 3.9% this year to a record $75.4 billion” as spending on products such as pet food, veterinary services, and pet tech increases. He says spending on pet food has increased 4.5% to reach $31.7 billion this year, in part due to millennials “paying premium prices” for pet food. Meanwhile, veterinary care is expected to reach $19 billion this year. In addition, he quotes Simeon Hyman, ProShares’ global investment strategist, who says “there are more pets than children, and spending on pets is growing at double the rate of the economy.” He features the ProShares Pet Care ETF (PAWZ), which offers exposure to companies in the pet care industry. See PAWZ performance and index holdings. (Subscription required for access)
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