OurPet’s Company (OPCO): ‘Green’ Effects & Positive Outlook from APPA President on Pet Industry in 2016
It’s said that green is the new black. According to Packaged Facts, the movement toward sustainable practices in the pet industry has been underway for quite some time, “beginning with recycling efforts, expanding to bio-based/biodegradable materials and now encompassing a variety of initiatives driven by consumer demand.” Ohio-based OurPet’s Company (OTCQX: OPCO) is aware of this. The company develops, produces, and markets various pet accessory and consumable products designed to awaken pets’ natural instincts, be it in feeding, playing, or waste management.
Examples of the company’s ‘green’ commitment include the following cat products, which are made from sustainable or recycled/recyclable materials: Spider Wand™, Loofah Wand™, Catnip Carrots, Catnip Fruits, Veggie Assortment and the remainder of the Pet Zone EcoPure Naturals® line.
Consumers view companies with eco-friendly initiatives positively and are demanding products created with eco-friendly, ‘natural’ ingredients and materials. Experts predict continued growth in the natural category, which includes pet food and pet care products. As reported by Packaged Facts, U.S. retail sales of natural pet products saw a “compound annual growth rate of 15.2 percent” from 2010 to 2014.
Bob Vetere, president and CEO of the American Pet Products Association (APPA), announced at the Global Pet Expo in Orlando, Florida, that overall spending in the pet industry for 2015 came in at a record $60.28 billion. These spending figures are part of APPA’s annual comprehensive report that covers pet spending in the market categories of food, supplies/over-the-counter (OTC) medications, veterinary care, live animal purchases and other services.
Pet services, which include grooming, boarding, walking, training, pet sitting, exercise and yard services for pets, saw the largest growth and more than tripled the growth percentage of any other category. Coming in at an 11.8 percent rise from 2014 to 2015, owners are now spending $5.41 billion on pet-related services.
“The 2016 industry spending forecast is very promising and although spending trends in various market segments ebb and flow, the industry as a whole is continuing to prosper, which is always great news,” said Vetere. “And with increased research on the health benefits of pet ownership, we anticipate even higher industry sales in the years to come.”
For more information, visit the company’s website at www.ourpets.com
Please read full disclaimers at http://disclaimer.missionir.com
It’s said that green is the new black. According to Packaged Facts, the movement toward sustainable practices in the pet industry has been underway for quite some time, “beginning with recycling efforts, expanding to bio-based/biodegradable materials and now encompassing a variety of initiatives driven by consumer demand.” Ohio-based OurPet’s Company (OTCQX: OPCO) is aware of this. The company develops, produces, and markets various pet accessory and consumable products designed to awaken pets’ natural instincts, be it in feeding, playing, or waste management.
Examples of the company’s ‘green’ commitment include the following cat products, which are made from sustainable or recycled/recyclable materials: Spider Wand™, Loofah Wand™, Catnip Carrots, Catnip Fruits, Veggie Assortment and the remainder of the Pet Zone EcoPure Naturals® line.
Consumers view companies with eco-friendly initiatives positively and are demanding products created with eco-friendly, ‘natural’ ingredients and materials. Experts predict continued growth in the natural category, which includes pet food and pet care products. As reported by Packaged Facts, U.S. retail sales of natural pet products saw a “compound annual growth rate of 15.2 percent” from 2010 to 2014.
Bob Vetere, president and CEO of the American Pet Products Association (APPA), announced at the Global Pet Expo in Orlando, Florida, that overall spending in the pet industry for 2015 came in at a record $60.28 billion. These spending figures are part of APPA’s annual comprehensive report that covers pet spending in the market categories of food, supplies/over-the-counter (OTC) medications, veterinary care, live animal purchases and other services.
Pet services, which include grooming, boarding, walking, training, pet sitting, exercise and yard services for pets, saw the largest growth and more than tripled the growth percentage of any other category. Coming in at an 11.8 percent rise from 2014 to 2015, owners are now spending $5.41 billion on pet-related services.
“The 2016 industry spending forecast is very promising and although spending trends in various market segments ebb and flow, the industry as a whole is continuing to prosper, which is always great news,” said Vetere. “And with increased research on the health benefits of pet ownership, we anticipate even higher industry sales in the years to come.”
For more information, visit the company’s website at www.ourpets.com
Please read full disclaimers at http://disclaimer.missionir.com
