World Market for Pet Care

Delivery

This report comes in PPT.

Key Findings

Dry food vs wet food - innovations in both formats focus on value-added products best serving pets’ needs

Dry food dominates pet food, especially dog food, stemming mainly from being the most widely available option that is usually affordable, and convenient. Dry formats are increasingly incorporating functional and novel ingredients to cater to evolving consumer sophistication of benefits for their pets as well as to enhance premium appeal while the wet formats are innovating around packaging and presentation through the lens of humanisation as well as functionality.

The premium segment benefits from high brand loyalty while the mid-priced and economy segments increasingly work around higher quality products at a more affordable price

The pet care market mainly remains resilient to the global economic downturn due to the high adoption of brand loyalty by pet owners. This benefits the premium segment which is the largest contributor to pet food sales. In terms of market development, economy and mid-priced players are trying to bring in attributes to elevate their positioning and have a more premium appeal.

Functional pet food benefits from the holistic approach of pet owners when it comes to their pets’ health

Consumers increasingly value products fortified with positive nutrients, eg protein, probiotics and vitamins, as they have become more aware of the link between food and overall wellbeing. In that context, innovations around functional pet food and pet supplements going beyond basic physical health are paramount.

Digitalisation continues to boost sales in the pet care industry

E-commerce continues to expand as consumers value convenience and products tailored to pets’ needs. Consumers’ presence online is growing and as a result, pet care companies are partnering with online platforms to increase visibility and accessibility. Pet owners are also embracing digitalisation using smart wearables for their pets as they provide insights about pets’ wellbeing.

Brands incorporate sustainable ingredients as they are keen on reducing their carbon footprint

Sustainable claims continue to grow in the pet care industry as pet owners want to reduce the impact of their purchasing decisions on the planet. For brands, it is key to communicate steps taken to achieve long-term sustainability goals to gain consumers’ trust and avoid greenwashing.