Each year, Euromonitor International identifies the top global trends that reflect changing consumer values and behavioural shifts, which significantly impact the business landscape. Three consumer trends—Value Hackers, Delightful Distractions and Wellness Pragmatists—stand out as the most relevant for the pet care industry in 2024, primarily due to the impact of inflation, pet humanisation and health concerns.
Home care in the Middle East is undergoing a remarkable transformation, driven by the convergence of two factors: a surge in consumer demand for innovative cleaning solutions and the active promotion of sustainable and eco-friendly practices by governments. As such, consumers are seeking cleaning solutions that offer eco-friendly formulations, sustainable packaging, and stress-relieving fragrances tailored to regional preferences
Inflation and rising energy costs are key driving forces behind product innovation in Home Care, enabling more efficient energy consumption, particularly in Laundry Care and Dishwashing. This also works as a more sustainable alternative for a growing base of environmentally conscious consumers globally. In addition, growing consumer awareness of self-care and wellness is being addressed through focus on features such as scent in new product launches, especially in Air Care.
Post-pandemic, consumers are cleaning less often, shifting from daily routines to cleaning only when necessary, a trend known as "Occasion Cleaning." Furthermore, household sizes are decreasing globally due to stagnant population growth, diminishing the demand for regular deep cleaning and impacting the utilisation of home care products and appliances.
The trend of anthropomorphising one’s pet has evolved significantly over the years. From addressing basic welfare to now creating opportunities for them to thrive, pet humanisation is becoming increasingly sophisticated. This is spilling into the pet health and wellness space where consumers are not only aware of their pets’ core physical needs but also their emotional and mental wellbeing.
Latin America is emerging as one of the most dynamic regions for the pet care industry worldwide. While the region's average expenditure still trails behind advanced markets, its steady growth is notable, highlighting the increasing relevance of pets in Latin American families.