A recent Petfood Industry article shed light on emerging trends in the pet food industry. It's clear that pet owners are progressively adopting innovative ideas in their buying habits. There's a growing concern among pet food purchasers regarding sustainability and environmental impact. These consumers are making more informed choices, both in their personal lives and in selecting pet food. Similarly, at Parker Freeze Dry, we contribute to a sustainable future by providing long-lasting, shelf-stable products.
Petfood Industry highlights the 5 trends that are influencing the way purchasing is done 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
Surveys by Euromonitor indicate that pet owners are more concerned about sustainability compared to non-pet owners, with a 5% higher likelihood of taking action to positively impact the environment. They also tend to be more worried about climate change. Latin Americans top the chart, with 27% feeling positive about purchasing eco-friendly products, while North Americans are at the lower end with about 17%. Despite their environmental concerns, pet owners remain skeptical of greenwashing and increasingly rely on certifications to validate sustainability claims.
Wellness
In the wake of ongoing medical concerns from the pandemic, pet owners have become increasingly attentive to their pets' wellness and health. This shift has spurred growth in the pet dietary supplement market, according to Trueba. These supplements often provide benefits for pets that mirror those sought by humans in their own health regimens.
Companies are responding to this demand by creating functional, straightforward products that address common needs such as joint health. Trueba notes that authentic reviews play a crucial role in educating consumers about these products. Ultimately, it's essential for a pet food company to grasp the health and wellness goals of its target audience.
Value hackers
Inflation has impacted all consumers, including pet owners who are now seeking more value beyond price in their purchases. This shift in consumer behavior has spurred the growth of private label pet foods, as owners search for high-quality products at reasonable prices. To capitalize on this trend, companies are adopting strategies such as providing cost-effective choices, initiating loyalty programs, and running promotions that highlight their product's value.
Captivating distractions
In today's challenging times, pet owners seek activities to distract and engage themselves. They are on the lookout for products that foster positive and playful bonding experiences. As we navigate through 2024, pet owners are adjusting to new challenges and embracing current trends in their pet food purchasing choices.
Ask the Ai
In recent years, artificial intelligence has made significant strides and is now increasingly integrated into the daily lives of pet owners. According to Trueba, pet food companies are leveraging AI in diverse ways to enhance the analysis of consumer data. This deeper insight informs business decisions and uncovers new opportunities. Amidst the dynamic landscape of 2024, pet owners are navigating challenges and embracing new trends in their pet food buying behaviors.
Our thoughts:
Parker Freeze Dry provides industrial-scale commercial freeze dryers suitable for pet food enterprises and various other industries, facilitating the production of sustainable products. Freeze drying presents a solution for extended shelf life, reducing the necessity for refrigeration, and decreasing shipping weight and costs, thereby playing a vital role in fostering a sustainable future. Our goal is to deliver solutions that minimize waste and contribute to a better tomorrow.
Source: PETFOOD INDUSTRY MAGAZINE; 5 global trends influencing the petfood industry
If you want to be a part of a better cause and you're ready to take your petfood business to scalable heights with sustainability, contact a Parker Freeze Dry rep today.
