PetLife: Millennial Pet Owners Leading Charge in Rapid Growth of Holistic Pet Care

HANCOCK, Md.–(BUSINESS WIRE)–PetLife
Pharmaceuticals, Inc
. (OTCQB:PTLF) (the “Company”), a developer of a
new generation of high potency veterinary cancer medications and
nutraceuticals for pets, released today an overview of the main drivers
behind the rise of holistic pet care and products. The shift in the pet
owner market from baby boomers to health-conscious millennials and an
increased access to natural, organic, and eco-friendly pet health
practitioners and products are making holistic pet care mainstream.
Approximately 56 percent of U.S. households own pets and have such close
emotional bonds with their pets that they are often referred to “as
family.” This is a major driver of the rapid growth of the holistic pet
care industry.

According to Packaged
Facts
, a leading market research firm,

  • Millennials make up 1 in 3 current pet owners and are responsible for
    43 percent of pet owner growth between 2007 and 2015.
  • More than half (55 percent) of Millennial pet owners are willing to
    try holistic and natural-branded nutritional supplements before
    resorting to conventional pet medication.
  • Nearly three-quarters (69 percent) of Millennial pet owners are more
    likely to consider foods whose recipes use naturally-made ingredients
    over other mass-produced foods.

“The demand for holistic pet care and products is potentially quite
higher than what is being reported as these market trends are not
tracked every year,” said PetLife President, Geoffrey Broderick, Jr.
“Pet owners are more informed and on the lookout for pet care and
products that are easy to understand, environmentally friendly, and have
formulae designed for enhancing the health of their pets.”

Broderick further stated, “This paradigm shift in consumer preference
has even fueled the substantial increase seen in the quantity of
holistic veterinary care practitioners over the years, a category still
growing both on a national and on an international basis.”

Increased access to holistic pet care and products is a recognition by
pet care providers and pet product developers of this demand. In a
separate report by Packaged
Facts
, they highlight the following:

  • Pet product purchasers, overall, tend to have their day-to-day
    shopping decisions impacted by an interest in
    natural/organic/eco-friendly attitudes and environmental/social
    attitudes, with those consumers who purchase natural, organic, or
    eco-friendly pet products being even more heavily influenced by these
    sentiments.
  • Over half (51 percent) of pet product purchasers feel that
    natural/organic pet foods are more nutritious than regular pet foods,
    and 71 percent are willing to spend extra to ensure the wellness of
    their pets.

“As pets are seen as an essential part of the household, owners are
spending more and more to indulge their pets and care for their health,”
added Broderick. “Companies like PetLife are striving to develop
nutraceuticals, drugs, supplements, and pet foods that are non-invasive,
eco-friendly, and holistic in nature to prolong pets’ lives and prevent
cancer and other diseases prevalent in companion animals. My father, Dr.
Geoffrey Broderick, invented the natural dog food sector almost 50 years
ago. The Holistic Pet Health industry is only going to gain a bigger
market share in the next few years, and we are excited to be at the
forefront of this exciting venture.”

About PetLife Pharmaceuticals, Inc.

PetLife Pharmaceuticals (OTCQB:PTLF) (http://www.PetLifePharma.com)
is a registered US Veterinary Pharmaceutical company, incorporated in
2012. PetLife’s mission is to bring its new, scientifically proven,
non-toxic, potentiated bioactive nutraceuticals and prescription
medication, Vitalzul™, to the world of veterinary oncology—with the
ultimate goal of preventing cancer and extending the life of pets
suffering from cancer while improving their quality of life. In the US
alone, consumer spending on domestic companion animals reached over $60
billion in 2015 with over $29 billion spent on veterinary care and
medications.

Forward looking statement:

This press release contains certain “forward-looking statements,” as
defined in the United States Private Securities Litigation Reform Act of
1995, that involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and the actual
results and future events could differ materially from management’s
current expectations. The economic, competitive, governmental,
technological and other factors identified in the Company’s previous
filings with the Securities and Exchange Commission may cause actual
results or events to differ materially from those described in the
forward-looking statements in this press release. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

Contacts

For PetLife Pharmaceuticals
Investor Relations:
Clifford
Price, 844-473-8543 ext. 701
cprice@petlifepharma.com
or
Press
Leigh
Minnier, 610-228-2108
leigh@gregoryfca.com