Petco Health and Wellness Company, Inc. (WOOF) and BARK, Inc. (BARK) are two prominent players in the pet care industry. WOOF operates as a premium pet consumable, supplies, and services retailer. The company also offers grooming, in-store and online training, tele-veterinarian, pet health insurance services, and veterinary services through Vetco clinics. It sells its products through petco.com, petcoach.co, petinsurancequotes.com, and pupbox.com websites. In comparison, BARK is a dog-centric company that provides dogs' products, services, and content. It offers custom collections through online marketplaces, BarkShop.com website, and brick-and-mortar retail partners.
With the significant increase in pet ownership amid the pandemic-led remote lifestyle, the demand for pet care products, viable medications, and food increased. The global pet care market is expected to grow at a 6.1% CAGR and reach $350 billion by 2027. So, both WOOF and BARK should benefit.
