2 Pet Medicine Stocks That Make Great Long-Term Investments
Just because some workers are returning to the office doesn't mean that spending on pets has gone away.
Two out of three U.S. households own a pet, according to the American Pet Products Association (APPA). Plus, the number of pets is increasing as is the willingness to spend on pet care. In the U.S., pet spending totaled $123.6 billion in 2021, according to the APPA, up from $103.6 billion in 2020, and marked the second consecutive record year.
Livestock care is also big business with emerging markets (such as China and India) increasing their protein demand. Global meat consumption is expected to hit between 460 million and 570 million metric tons a year by 2050, according to Statista.
Source Fool.com
