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Food Business Review | Saturday, February 12, 2022
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The humanization of pets has given fashion to substantial development of the pet food industry, and this empathetic value of pet parents demands the best for their pets.
The full amount of money spent on pets in 2018 was estimated at $72.13 billion, and about $29 billion was spent on pet food. Today, pets are considered more family members. In addition, pet parents want to purchase only the best for their animal companions, thus changing the industry rapidly and urging pet food brands to keep up to satisfy these conscious consumer demands.
A few trends will impact the pet industry, shaping the years ahead.
• Clean Labels and Transparency
This trend is an option of expectation from customers. Pet food brands unable to deliver will find themselves in a difficult position, as a more holistic approach will influence purchasing behavior. The clean label trend will remain, and pet food products must offer full transparency on their ingredient lists and provide required and critical nutrients. Expecting full transparency, customers are careful about knowing where their products come from, which means ingredients offering perfect traceability will be the preferred choice of consumers.
• Personalization
Pet parents are likely to enjoy the experience of preparing food for their pets, as it gives them the feeling of having more control over the ingredients they are feeding. In addition, there is a trend of mixing raw food with other readily available pet food sources. So pet food manufacturers must understand all these drifts to give customized options for customers.
• Healthy Foods
Pet food ingredients offering tested health benefits will probably concentrate on major pet food brands for the years to come. However, there will also be a rise in pet food choices, including nutritious ingredients, vitamins, etc. Comprising nutritional components of high quality or even human-grade level will be a competitive benefit for brands.
The pet food business is growing, and it will continue in the years to come. A brand that meets its consumer demands can undoubtedly thrive in the competitive market.