The wellness craze is here for Millennials’ pets. Global Industry Analysts, Inc. predicts pet food will boom to $35 billion by 2024, while Packaged Facts has tracked a year-over-year rise in the pet supplement industry to $636 million last year. They also found that 25-34-year-olds are spending the most, as they buy everything from CBD chews to fish oil pills. According to one industry veteran, “Products that were considered perhaps luxuries by earlier generations are now considered essentials by [M]illennial pet owners.” (Vox)
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