When did all this start to become a really big thing? It's been growing rapidly for a long time. Why are people now just spending more on their pets than they did before? You just see pets becoming part of the household. They're treated as one of the family more and more.
The global pet economy is expected to reach nearly half a trillion dollars by 2030. After a pandemic surge in pet adoptions, more people are buying ever more expensive food and toys for their furry friends. But beyond these routine costs, a growing number of owners are also shelling out thousands for veterinary care to treat complex illnesses and keep their pets alive for longer.
Bloomberg reporters Brendan Case and Nacha Cattan join this episode to give an expansive view of the industry, including how new diagnostic tools and medications are extending pet lifespans—and wearing down owners’ wallets.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.
This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
See omnystudio.com/listener for privacy information.