Pet care is generally considered recession-proof, and basic pet care needs are likely to remain relatively stable even during tough economic times. Indicating strong resilience, pet food, treats and other products taken into account 39% of Nestlé’s overall online sales in 2022. However, while pet owners will continue to feed their four-legged friends even during economic downturns, a new sustainability trend is taking shape in the care industry for pets.
Pet owners are experiencing growing apprehension about the future of the planet, prompting lasting adjustments. According to Euromonitor International’s Global Lifestyle Survey data, these ecological concerns are particularly increased among pet owners compared to those who do not have one. Nearly 70% of pet owners worldwide express concern about climate change and actively strive to positively influence the environment through their daily choices. This trend suggests a promising path for the expansion of pet foods made from sustainable components.
Coupled with the ongoing societal shift toward treating pets as members of the human family, evident in the continued introduction of products such as functional supplements, pet backpacks, personalized clothing and mobile veterinary and grooming facilities, it’s no surprise that the industry is thriving. In the United States, millennials constitute the largest segment of pet owners, accounting for 32%, and they allocate an average of $133 per month to their pets, as PetKeen points out. Additionally, the prevailing trend to humanize pets is primarily driven by millennial and Gen Z pet parents, who are deeply committed to improving the health and well-being of their pets. Nonetheless, pet owners across different age groups and income brackets show a growing trend toward ensuring the well-being of their four-legged companions.
Indeed, the pet care industry is follow other global trends in the competition for consumers’ wallets, including focusing on the development of sustainable and environmentally friendly products. A recent study from NielsenIQ watch that 78% of American consumers say a sustainable lifestyle is important to them. Additionally, several pet care brands now use mushrooms as a source of pet protein because their production requires fewer resources than conventional meat sources.
An evolving industry
Many new companies are meeting the demand for high-quality, durable pet care products.
US-based Meow Mews, creator of design-centric cat wellness shelters, recently kicked off its crowdfunding campaign for “Tree,” a debut collection of sustainable and modular pet furniture. “The product line sits at the intersection of design and functionality, while promoting the health and well-being of our purring connoisseurs. Made with natural raw materials,” said company founder Netta Dor Shalgi.
“Cat owners have a special relationship with the animals they share a home with, but industry standards for feline furniture do not take into account the needs of cats or their owners,” Shalgi added.
Signaling a shift towards consumer thinking in sustainable terms, earlier this year Mars Petcare, Plastic Credit Exchange (PCX) and Pet Express launched a plan to collect and recycle post-mixed pet food flexible packaging. -consumption in the Philippines.
“As more and more Filipino shoppers are willing to adopt sustainable practices, this provides us with the opportunity to invest in eco-friendly practices and take the lead in meeting consumer needs while reducing waste and increasing circularity. » said Johnny Racoma, general manager of Mars Petcare in the Philippines.
In July, Lyka, a pet wellness startup, developed preventative and holistic healthcare for pets through fresh nutrition. raised $25 million to provide an alternative to processed foods. Vegan pet food is also booming. In 2022, Lever VC joined a $17.5 million funding round in Bond Pet Foods. The company is create Chicken, beef, fish and other meat proteins “nature-identical” through precision fermentation.
There is a growing trend among pet owners to seek out products that they believe are beneficial not only to their pets and themselves, but also to the environment. In fact, animal lovers interact with wildlife in ways that don’t take them out of their ecosystems either. More than 45 million Americans identified as bird watchers in 2016, a number that has since exploded following a pandemic-fueled “birding boom.”
Nature everywherea company that built a see-through bird feeder called the Birds-I-View Window Feeder, has created a mini bird-watching conservatory that allows bird lovers to experience wildlife outside the home.
This same trend among pet owners to prioritize animal health and sustainability highlights a significant expansion in the area of more sustainable and healthier pet food ingredients. The data suggests that companies able to capitalize on this emerging growth frontier are poised for strong performance over the coming years.
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