This year has been a tumultuous one on the planet Earth. From wars to global warming and rising prices to falling forests, diverse problems confront humanity in 2024. Those challenges have influenced pet food consumer trends, Alberto Trueba, research and data analyst with Euromonitor International, said during his presentation at Foro Mascotas on June 27 in Guadalajara, Jalisco, Mexico. He discussed five consumer trends affecting the dog, cat and other pet food industries.
Greenwashing vs. sustainability
Pet owners are more concerned about sustainability than those without pets, according to Euromonitor surveys. By approximately 5%, pet owners were more likely to state that they try to take action to have a positive effect on the natural environment. Likewise, pet owners were more likely to report being concerned by climate change. Latin American respondents were the most likely to feel good about buying ecologically conscious products at approximately 27%. North American, meaning the United States and Canada, respondents reported the lowest level (~17%) of feeling good about buying sustainable products.
As much as pet owners worldwide are concerned about the ecological impact of their purchases, pet owners can be skeptical of sustainability claims. Pet owners are wary of greenwashing, or presenting the appearance of environmental responsibility while not really doing anything. Certifications have become important for ensuring that sustainability claims are more than just claims, he said.
Trueba suggested three tactics for a pet food company to follow the sustainability trend. A pet food company needs to be sincere and objective about their sustainability objectives. They need to make products that are affordable and eco-friendly. Companies can develop alliances to reduce their carbon footprints or meet other environmental goals.
Wellness
Following the constant medical concerns of the pandemic, pet owners are focused on wellness and health. As part of this, pet dietary supplement sales have grown, Trueba said. Many of these supplements offer similar benefits to pets as humans look for in their own supplements.
To meet pet owners’ demands for wellness benefits, companies can make functional and simple solutions to meet practical needs, like joint health, he said. To promote these products, valid reviews can help educate consumers. Overall, a pet food company needs to understand the health and wellness objectives of its target market.
Value hackers
Inflation has challenged consumers of all products, and pet owners were no exception. Pet owners may be willing to spend more on their pets than they were in the past, but pet food buyers also now demand benefits from their purchase beyond the price, he said. The hunt for value has driven growth for private label pet foods. Pet owners are looking for premium quality at mid-range prices.
Tactics to follow the value trend include offering affordable options, starting a loyalty program, and promotions that showcase the value of the product, he said.
Captivating distractions
With all the problems in the world, pet owners are looking for activities to distract and engage themselves. Pet owners look for products that can provide positive, playful bonding moments, he said.
Ask the AI
Artificial intelligence advanced in the past few years. AI has started to become a routine part of pet owners’ lives. Pet food companies can adopt AI tools in a variety of ways, Trueba said. AI can allow deeper, faster analysis of consumer data, which can then be used to inform pet food business decisions and help identify opportunities.
In the tumultuous world of 2024, pet owners are adapting to challenges and adopting trends as they make their pet food purchasing decisions.
