The global pet care market continues to exhibit strong growth, mainly driven by the premium dog and cat food, pet treats and other pet products segments, as a growing number of owners around the world come to think of their pets as family members or even ersatz children. As a result, the gap between human and pet food is steadily narrowing, as owners increasingly demand that the food they feed their pets is comparable in quality to what they are feeding themselves.
Pet ownership continues to grow in popularity across most developed and emerging markets, with a rising number of owners feeding their pets prepared food, rather than table scraps/leftovers.
Pet humanisation continues to deepen, as the companionship provided by pets, particularly cats and dogs, appears to address a fundamental psychological need in many people as society becomes more urbanised and atomised.
Value sales of premium dog and cat food and pet treats continue to significantly outperform the wider pet food market, particularly in North America.
In the premium dog and cat food segment, a growing number of consumers are willing to pay a significant premium for products that are “human grade”, “grain free”, “raw”, “hypoallergenic” or contain “superfood” ingredients.
Obesity is a growing problem among both dogs and cats worldwide. Awareness of this problem remains relatively low but is rising, as are sales of therapeutic products designed to tackle it.
Electronic gadgets for pets that are controlled by smartphones, such as interactive toys, smart feeders and Fitbit-style activity trackers, are growing in popularity, boosting sales in the other pet products segment.
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