Regardless if the market heads higher or lower, Jim Cramer has noticed a red-hot group that consistently has money pouring into it — pets.
Between 2001 and 2015, Cramer noted that the amount of money spent taking care of animals has more than doubled, rising to $60.3 billion a year.
"This theme is here to stay, a fabulous place to invest on any scare, whether it be from the Fed or overseas or certainly from the madness of the upcoming presidential election," the "Mad Money" host said.
On Tuesday, Cramer identified his top pet care plays as VCA or IDEXX Laboratories on the next big pullback. He continued that analysis on Wednesday by comparing Blue Buffalo Pet Products, Freshpet, J.M. Smucker, Henry Schein and Central Garden and Pet.
Blue Buffalo is the largest publicly traded pure play on pet food. The company went public approximately one year ago at $20 and after peaking at $28.80, it went into free-fall, hitting $15 in February. Since then, the stock has rebounded and is up 40 percent for the year.
"Given the momentum here, it is not hard to imagine Blue Buffalo making new highs in the not-too-distant future," Cramer said.
Freshpet is another pure play on pet food that makes high-end food for cats and dogs. In fact, the product is so high-end that it must be refrigerated and contains locally farmed meat and poultry. The stock plummeted last year during an aggressive sell-off of growth stocks, and has rallied 20 percent for the year since the market-wide bottom in February.
J.M. Smucker is not only the maker of jams, jelly and coffee, but also has a fast-growing pet food business from its acquisition of Big Heart Pet Brands last year. It makes Meow Mix, Kibbles n' Bits and Milk-Bones, among other brands. Pet food now accounts for 29 percent of the company's total sales.
Henry Schein is mainly a distributor of dental supplies, but it also has an animal health unit that supplies veterinary clinics globally. The animal health portion accounts for 27 percent of company sales, and is a strong growth driver for the company.
Central Garden and Pet makes garden supply products and pet supplies, toys and accessories. While the company is small, the stock has been on fire this year, up 72 percent for 2016.
Ultimately Cramer advised that for investors who want to invest in the animal group, to either go with IDEXX and VCA that he previously recommended, or invest in Blue Buffalo for pet food. He also recommended J.M. Smucker and Henry Schein on a pullback for non-pure plays that still have strong animal exposure.
"This bet theme is going to be with us for years," Cramer said.