When a dog is a man’s best friend, the food you feed them should be held to the same standards that you feel comfortable introducing into your diet. Pets are considered part of the family more than ever, and the numbers are there to back up this trend.
“The global pet food market is expected to grow for the current $78 billion to $112 billion by 2028,” says Jeff Jendryk, vice president of business development at Spec Engineering. “Reasons for the rapid growth include an increase in pet adoption rates, increased demand in organic and premium pet foods, and the growing disposable income of the middle class which is leading the surge on spending on their companions.”
According to the American Pet Productions Association (APPA), it is estimated that 70% of US households own a pet. 14% of respondents obtained a new pet during the pandemic, and in the past year, 35% of pet owners reported that they spent more on pet supplies than in the previous 12 months. Whether this was on more expensive food or enrichment toys for all the time spent at home, pet owners spend a portion of their income on these furry friends. Just as the trend of healthy eating continues to grow for humans, same goes for pets. 51% of pet owners are willing to pay extra for ethically sourced pet and eco-friendly pet products. “More pet owners are concerned with their pets’ digestive health and their increased level of anxiety as their owners are returning to their workplace and leaving their pets alone for the first time,” says Jendryk. The demand is there – so what does this mean for pet food production lines?