Pet Food Processing - May 2024 - 18

TRENDS
At this time,
there are more
Millennial pet
owners than
any other
demographic.
┬ęDusko - stock.adobe.com
is almost equally important, cited by 61% of pet owners
for what to buy and 60% for where to buy it. This is
compared to only 36% of pet owners citing low prices
as impacting what they buy, with low prices being less
important than brand names.
Even if consumers want to lean toward more economy
brands, discontinuations have left limited options, leading
consumers to mid-price and premium pet foods. The
NIQ 2024 Consumer Outlook from NielsenIQ, Chicago,
found that consumer survival tactics have shifted into longterm
behaviors as rising food prices remain top of mind.
Increased living costs, economic slowdown, and job insecurity
or loss have created a cost-of-living crisis that sees the
costs of goods rising 31% higher versus four years ago. But
even in a good economy, the cost of pet ownership is high.
" A notable change is that some pet owners are trading
down to lower-priced brands, a category with traditionally
very sticky spending because of the strong relationship
pet parents rightfully make between pet food and
pet health, " Landry Brown said.
Packaged Facts' survey results show that among pet
owners who had switched pet foods in the past year, 32%
of dog owners and 28% of cat owners had switched to a
lower-priced brand.
Private-label projections
Over the past couple of years, there's also been a slow
rise in the share of pet food purchasers using private-label
foods, according to MRI-Simmons usage
data. Changing pet owner attitudes about private-label
foods is encouraging this growth. Packaged Facts' survey
18 PET FOOD PROCESSING | May 2024 | www.petfoodprocessing.net
results show 37% of dog and cat owners agree privatelabel
pet foods provide the same or better quality compared
to national brand pet foods.
Yet adoption of private label is typically much lower
in North America than its European counterparts, according
to Lynn Dornblaser, director, innovation and insight,
Mintel, Chicago, in a presentation at the American
Feed Industry Association's (AFIA) Purchasing and
Ingredient Suppliers Conference in March. This presents
an opportunity for growth in private labels and more
options for emphasis on private labels by retailers. With
many pet owners being open to changing a pet's diet to
improve health, there are numerous opportunities to address
concerns for specific breeds and activity levels with
the possibility of pet DNA testing in the future to tailor
pet nutrition, Dornblaser said.
" Seeking the best value for their dollar, consumers
can find the switch up to premium more justifiable, even
if it is to a premium private-label option, " Torres said.
" Supplements are also continuing to gain traction as pet
owners seek to improve overall health, drawn in by rising
claims of age-reversing or life-extending products. In the
eyes of many, an expensive supplement is only a small price
to pay in hope for more years with a beloved family pet. "
Whether a purchase is about the economy, premiumization,
health, or all of the above, it's also likely to be
strongly motivated by an emotional connection to one's
animal. That means processors must keep a close eye on
the more emotional, human side of things and expect
that purchase decisions may not always be driven by
logic or demographics.
PFP
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Pet Food Processing - May 2024

Table of Contents for the Digital Edition of Pet Food Processing - May 2024

Pet Food Processing - May 2024 - Intro
Pet Food Processing - May 2024 - 1
Pet Food Processing - May 2024 - 2
Pet Food Processing - May 2024 - 3
Pet Food Processing - May 2024 - 4
Pet Food Processing - May 2024 - 5
Pet Food Processing - May 2024 - 6
Pet Food Processing - May 2024 - 7
Pet Food Processing - May 2024 - 8
Pet Food Processing - May 2024 - 9
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Pet Food Processing - May 2024 - 11
Pet Food Processing - May 2024 - 12
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Pet Food Processing - May 2024 - 14
Pet Food Processing - May 2024 - 15
Pet Food Processing - May 2024 - 16
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Pet Food Processing - May 2024 - 18
Pet Food Processing - May 2024 - 19
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https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-may-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-january-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-november-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-july-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-may-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-december-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-october-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2022
https://digital.petfoodprocessing.net/sosland/pfp/-pet-food-processing-june-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-december-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-october-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-june-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2021
https://digital.petfoodprocessing.net/sosland/pfp/2020_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_10_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_03_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_10_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_03_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_03_01
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