When it comes to pets, wealthy owners are leaving no stone unturned to spoil them. From food to recreation, they are getting the best that is there for taking in the market. This has been a boon in the pet industry and has spawned the gourmet pet food market. Consisting of low-carb, healthy ingredients, the global gourmet pet food market is a niche industry that is predicted to see steady growth in the near term.
Some of the trends shaping the market have been discussed below:
The gourmet products are said to be driving the pet food industry at present. Both large multinationals and niche hyper local brands are battling it out for the customer’s attention. They are seen coming up with newer products ranging from personalized birthday cakes to customized food for delivery. Such trends are helping the global gourmet pet food market to grow.
Meanwhile, ecommerce platforms too are serving to boost sales in the global gourmet pet food market owing to the convenience they provide. For example Alibaba Group’s virtual storefront in Taobao.com, selling personalized products such as cakes and food for pet birthdays, saw sales to the tune of US$152, 000 in the last fiscal year.
A noticeable trend in the global gourmet pet food market is the emergence and popularity of organic ingredients for formulating healthy stuff. This, in turn is because of the increasing humanization of pets. From packed organic stuff sans additives on shelves of supermarkets and hypermarkets to made-to-order ones, those surely are set to create waves going forward.
The U.S., where 60.0% of households own pets, is currently driving the global gourmet pet food market. Increased spending capacity of people and a developed pet market in the region have been major drivers. Meanwhile, Asia Pacific, powered primarily by China’s large population is emerging as a lucrative market.
The gourmet food lovers are a connoisseur of food. Not just with humans, but this have been trending in the pet food industry also. The demand of gourmet pet has risen recently. The difference between human and gourmet pet food has rapidly been shrinking rapidly.
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Pet foods are formulated around concerns of human food industry like organic ingredients, low-carb and free from many things. The whole idea behind gourmet pet food is to pack the food with nutrition for a pet’s healthy lifestyle. Pet problems like Itching, scratching, appetite woes, upset tummies and more, can all be linked to problems with food. Switching away from highly processed pet food to gourmet pet food benefits the pet’s health directly.
Consumers are increasingly indulging their pets with gourmet pet foods, as well as increasingly sophisticated snacks and treats. Many of these products are projected to be a clean label, as well as non-GMO and grain free.