How consumers are caring and looking after their pets is changing. Many consumers no longer identify themselves as a ‘ pet owner ‘ but more as a ‘ pet parent ‘ or ‘ pet guardian ‘, as consumers now view their pets as extended members of the family. This ongoing shift towards pet humanization is changing how consumers care for their furry family members, resulting in demand for premiumization of food, chews and treats.
In 2019, the American Pet Products Association (APPA) recorded that US consumers spent $ 95.7 billion on their pets, with $ 36.9 billion allocated to food and treats, far surpassing medicine, veterinary care and other supplies. E-commerce and direct to consumer models are playing a massive role in this new era of pet care. With the ongoing global outbreak of COVID-19, US sales of pet products through e-commerce channels saw an increase of 63% in 2020. This shows that mature markets, such as the US and Western Europe, are open to new opportunities to upscale consumer spending.
A pet is a Millennial’s best friend!
The demographic of pet owners has changed significantly too . In 2020, Common Thread Collective reported that 35% of all pet owners are now Millennials, surpassing Generation X and Baby Boomers. Millennials are tech-savvy, switched-on and ethically minded, which has fostered the demand for highly personalized and premium products for their companions. Many Millennials view their pet as a ‘practice run’ before having children to improve their parenting techniques. As such, Millennials are spending, investing, and demanding higher quality when purchasing pet products.
Increasing humanisation of pets
Since Millennials view their animal companions as ‘starter children‘ , it comes as no surprise that their pets are treated like humans. This has established a growing consumer demand for pet food treats to be of the same quality as the human equivalent. If we can have vitamin supplements, nutritious, high quality and organic food or treats, why can not the same be given to our animals?
In 2017, Euromonitor recorded unprecedented numbers of pet food products billed as natural, raw, organic, or additive-free hitting the shelves of the UK market. Marrying this up with the largest demographic of pet owners, it‘s understandable that there has been a boom in gourmet food and treat products coming to market.
Identifying, highlighting, and magnifying similar USPs in pet and human food generates a direct emotional and physical response with consumers, many of whom want to lead healthier and better lives. Market trends, sales figures and changing demographics all point towards a massive opportunity for brands and pet food manufacturers to drive premium and luxury SKUs within their ranges.
Luxury pet treats and Salmigo® Protect L60
Here at biomega®, we are passionate about pet food and its quality. As a leading biosciences company, we are pioneering research into how ingredients, such as Atlantic salmon, can provide lasting healthy gains by enriching foods and treats to present inherent luxury and quality. Salmon is well established as a luxury food product, winning global recognition, and has been tantalising our tastebuds for decades. Plus, the additional health benefits associated with salmon are often supported by veterinarian professionals as the oils in the fish ease joint pain and reduce inflammation.
The Salmigo® Protect range are high quality liquid salmon peptides, which have been successfully used in premium pet food and treat applications. Our salmon peptides are processed from fresh, high-quality Atlantic salmon tissue by natural and gentle enzymatic hydrolysis, which produces a premium ingredient.
In a recent white paper, we announced that Salmigo protect L60, alongside its nutritional properties and great palatability – offer a possibility to be used as a substitute to glycerine – in semi-moist pet snacks. A viable alternative for the semi-moist petfood market.
Download and read more about our whitepaper here.
For more information on biomega® products for luxury and premium pet food applications, please email email@example.com .