The love for pets is one thing that people from different parts of the world share. Street spending has slowed down over the last few years. On the other hand, consumer spending on pet care products is in the opposite direction. The pet care products industry has been growing at 5.25% CAGR and is expected to be worth USD 115.25 billion in 2024.
The way people used to take care of their pets 50 years ago is not the same today. What has contributed to some of these changes? Read on to understand some of the trends that are dominating the pet care industry:
Calming stress is the order of the day
Just like humans, our canine friends also face stress from multiple sources. Think about that dog that you have just adopted and is yet to understand the new environment. Your pet could have just recovered from a life-threatening illness.
Pet owners are thus engaging in activities that will help calm stress. Such people are also investing in tools that will make the lives of their pets more bearable. A dog, for instance, requires a sound sleeping place to cope with stress and anxiety. Getting orthopedic beds for dogs is one of the best approaches to make this a reality.
We expect pet owners to invest more of their time to learn the causes of stress. We are also seeing pet owners getting products infused with CBD as it is known for its calming features. Spending more time with pets is also proving to be an awesome approach for calming pets.
People are opting for sustainable pet care products
Let us all face it; taking care of a typical pet can be somehow expensive. Think about pet foods, the toys, the shelter, and its accompaniments. All these needs can only be fulfilled with money, and that is why pet owners are investing in sustainable products. No one wants to invest in a toy that will break after two days and go back to the shop again.
We can now see manufacturers of pet care products investing in producing sustainable products. Such firms are partnering with recycling companies as they understand their role in preserving the environment. We are now seeing food packaging companies creating reusable packaging containers that pet owners can take for refills. The shift towards sustainable products is not only in the pet care industry, as it is cutting across the board.
Rising awareness of pet food
Gone are the days that people could just buy any product labeled ‘dog food’. Pet owners now want to know what is in the package and how it will influence the pet’s growth in question. There are different types of foods for different breeds. The pet’s physical state will also determine the type of food that a pet owner takes from the shelf. Labeling is almost becoming mandatory, and you will find pet owners taking their time to check the labels. Pet owners are now avoiding those feeds that do not have proper labeling.
Custom-made pet food is another trend that is dominating this sector. Recent research conducted in Italy shows that almost 49% of pet owners opt for personalized pet food. About 47% of Polish pet owners will buy custom-made food that is tailored to their pet’s needs.
Focus on pet health is one the rise
We all understand the need for having your pets regularly checked by various health experts. However, pet owners are now going a step further towards investing in pet’s health. A good example is pet owners who buy feeds that promote gut health. The focus on the pet’s digestive health is on the rise as people now understand that most of the ailments come from food intake.
Pet owners are now focusing on all-natural ingredients when they go shopping for feeds. Such people are looking for products that improve dental health. Foods that also create stronger bones and joints are also a must-buy for health-conscious pet owners.
Health experts have also been making huge strides towards developing solutions for pets. We now have smart devices that can check the blood sugar without going to the physician. Pet owners can also check health issues such as respiration and heartbeat in the comfort of their homes. There are also tutorials where pet owners can learn how to treat their pets at home. A special focus has been given to diseases like Osteoarthritis, which affects almost 20% of dogs. Expect these experts to work on solutions for pain and sore muscles.
How many ‘lost dog’ posters have you come across? You may have lost count as they are a lot. Losing a pet can be devastating, and that is why you find people offering a reward for any person who can help them locate their lost pets.
We now have GPS-enabled wearable tech that pet owners can use to locate their pets. A dog collar fitted with a tracker comes in handy when locating a lost dog. Such pet owners can even monitor their pets’ activities remotely through webcams connected with mobile devices.
Social media accounts for pets
If you thought that social media was only for humans, then you are greatly mistaken. We now have pets that are taking social media by storm and offering a new experience. The owners of these pets share their journey and let the followers into the lives of their pets.
Some pet owners are winning endorsements and earning a lot from such activities. Some of the most common platforms you will find such pets are Instagram and YouTube. Pet owners are also investing in teaching their pets how to behave in front of the cameras.
The above are some of the trends we expect to see in the pet care industry in 2021. As you can see from all these trends, the focus is on nurturing general wellness. We also expect pet owners to focus more on disease prevention techniques on top of the treatment options that are already in place.