[Industry News] Navigating Pet Food Trends in 2024

 

Navigating Pet Food Trends in 2024: Sustainability, Wellness, and Value

In the tumultuous world of 2024, pet owners are adapting to challenges and adopting new trends as they make their pet food purchasing decisions. This year has been marked by global upheavals, including wars, climate change, and economic fluctuations. These factors have significantly influenced pet food consumer trends, as highlighted by Alberto Trueba, research and data analyst with Euromonitor International, during his presentation at Foro Mascotas in Guadalajara, Jalisco, Mexico.

Key Pet Food Consumer Trends in 2024

1. Greenwashing vs. Sustainability

Pet owners are increasingly concerned about sustainability, more so than those without pets. Euromonitor surveys indicate that pet owners are about 5% more likely to take actions that positively impact the environment. Latin American pet owners lead this trend, with approximately 27% feeling good about buying eco-friendly products, compared to about 17% in North America.

However, pet owners are wary of greenwashing – companies falsely presenting themselves as environmentally responsible. Certifications have become essential to verify sustainability claims. Trueba suggests three tactics for pet food companies to align with sustainability trends:
– Sincerity and Objectivity: Be honest about sustainability goals.
– Affordability and Eco-friendliness: Develop products that balance cost and environmental impact.
– Alliances: Form partnerships to reduce carbon footprints and achieve environmental goals.

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2. Wellness

Post-pandemic, pet owners are focusing on health and wellness, driving growth in pet dietary supplements. These supplements offer benefits similar to those sought by humans, such as joint health and overall wellness. To meet this demand, pet food companies should:
– Functional Solutions: Develop simple, effective products addressing practical needs.
– Consumer Education: Use valid reviews to inform pet owners about the benefits.

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3. Value Hackers

Inflation has pressured consumers, including pet owners, who now demand more value from their purchases. This has spurred the growth of private label pet foods, offering premium quality at mid-range prices. To capitalize on this trend, pet food companies can:
– Affordable Options: Provide cost-effective products.
– Loyalty Programs: Implement programs to retain customers.
– Value Promotions: Highlight the benefits and value of the product through promotions.

Keywords: value pet food, affordable pet food, private label pet food, pet food loyalty programs, pet food promotions

4. Captivating Distractions

Amid global challenges, pet owners seek products that provide engaging and positive experiences. These products foster playful bonding moments between pets and their owners.

Keywords: engaging pet products, playful pet activities, bonding with pets, pet entertainment, pet playtime

5. Ask the AI

Artificial intelligence has become integral to pet owners’ lives. Pet food companies can leverage AI to:
– Data Analysis: Perform deeper, faster consumer data analysis.
– Informed Decisions: Use insights to guide business decisions and identify opportunities.

Keywords: AI in pet food, artificial intelligence pet products, AI consumer analysis, AI pet food trends

Conclusion

In the tumultuous world of 2024, pet owners are navigating challenges and embracing trends in sustainability, wellness, value, engagement, and AI. By understanding and responding to these trends, pet food companies can better meet the evolving needs of their customers.

As we look forward to how these trends will shape the future of the pet industry, we invite you to join us at InterPetFest 2025. This premier event will showcase the latest innovations and trends in pet care, bringing together industry leaders, pet enthusiasts, and innovative products. Stay tuned for more updates and opportunities to connect with experts and explore the future of pet care.

For more insights on pet food consumer trends and to learn more about InterPetFest 2025, visit our News section and stay updated with the latest developments.

Tags: pet food trends 2024, pet food sustainability, pet wellness, value pet food, engaging pet products, AI in pet food

 Reference: https://www.petfoodindustry.com/pet-food-market/market-trends-and-reports/article/15678585/5-global-trends-influencing-pet-food-in-2024