It’s no secret that the pet food industry is booming, and will continue to grow in 2019 due to two important factors: humanization and premiumization.
Pet owners are already buying the amount of pet food they need, so the quantity can’t go up. Instead, growth is due to pet owners buying the best products for their pets. Premium pet food sales are continuing to increase, whereas other areas are seeing drops in growth. A recent report from Euromonitor International found that in 2017 premium dog and cat food sales made up more of total value sales than economy and mid-priced sales combined.
As pet owners in the U.S., perhaps more than in any other country, treat their pets as integral members of their families, the price they are willing to pay for their beloved’s care has gone up. Dog food sales grew 8% between 2012-17 to reach $11.8 billion, while cat food sales increased 11% to reach $6.83 billion during that period. Snacking is no longer a bad habit for humans; 1 in 11 pet owners say they feed their pet toppers such as sauce and gravy as a snack, and 75% of pet owners say that treats are their way of showing their pet love.
With so much money at stake, it is more important than ever for pet food companies to conduct market research, so they can gain insight from veterinarians about the needs of pet owners.
QuestionPro Audience has the largest veterinarian panel in the U.S., which consists of more than 40,000 highly engaged, pre-screened veterinarians who provide critical insights. With industry knowledge, innovative tools, and purchasing power, QuestionPro Audience always meets the rigorous demands of our clients.