Caution ahead: Pet food pricing pressures continue in 2024

Pet food producers are still facing higher costs, leading to higher retail prices, while pet owners want premium products but are spending more thoughtfully.

Debbie Phillips-Donaldson

February 7, 2024

Higher prices for pet food materials mean higher retail prices, creating a still uncertain situation for the pet food market in 2024.

Higher prices for pet food materials mean higher retail prices, creating a still uncertain situation for the pet food market in 2024.

frentusha I iStock.com

In interviewing pet food experts for her annual January article on top trends, Editor Lindsay Beaton discovered many also had a top concern for 2024: consumer spending. No surprise, given two years of high inflation in pet food (and many other consumer categories) following a period of economic uncertainty. Pet food is famously resilient, but as Beaton put it, “data show those with furry friends still want to spend on their animals … they just want to do it more thoughtfully.”

Log in to view the full article

Dall·e 2024 09 10 09 25 03 An Oil Painting Of The Earth, Viewed From Space Like The Famous 'blue Marble' Image, But Covered With Dirty Dog And Cat Footprints The Planet's Blue

Local sustainability collaborations boost pet food brands

This product introduction lends itself to the trend of pet ownership in urban areas where smaller living spaces and lifestyle preferences favor cat ownership.

Argentine pet food producer launches specialized nutrition for spayed/neutered cats

Something to Chew on

Will high pet treat sales growth soon come down to earth?

Pet treats are popular but also a discretionary expense, and in inflationary times, some pet owners may reduce their spending in the category.

Higher pet treat prices may be driving some pet owners to cut back on their spending, leading to falling sales growth.

Brand Insights

Conveyance solutions to maximize production

Intralox

Learn how Intralox conveyance solutions can enhance pet food safety and increase production.

Conveyance solutions to maximize production

Something to Chew on

What do pet owners seek in pet food packaging?

Communication, freshness, convenience and sustainability rank among packaging priorities for pet food, along with broader trends resonating with all consumers.

Communication, freshness, convenience and sustainability rank among packaging priorities for pet food.

Something to Chew on

FDA’s evolving role in pet food regulations and safety

Proposed new U.S. pet food legislation, plus the return of an FDA-generated controversy, highlight the agency’s significant role, for better or worse.

New pet food labels may not be the only regulatory change coming to the U.S. pet food market.

Something to Chew on

Raw pet food adoption: What does the future hold?

Pet owners in North America and Europe are increasingly feeding raw and other ‘alternative’ pet foods, especially younger owners, but do barriers remain?

Pet owners are increasingly feeding raw and other alternative pet food formats.

Something to Chew on

Joining pet owners on the path to pet food sustainability

Consumers embrace sustainability at varying levels, so you have to understand where your target consumer is, then navigate the complex sustainability journey.

Pet food and treat companies can help pet owners seek and embrace sustainability, but producing “green” products can be quite complex.

Something to Chew on

Why cats are a growth category for pet food

Rising urbanization is leading to increased cat ownership and, following on, higher cat food sales growth, presenting opportunities for pet food companies.

Higher cat ownership means higher growth rates for cat food and treat sales.

Something to Chew on

The ongoing strength and growth of pet food omnichannel

Omnichannel shopping — buying pet food both in physical stores and online — really took off during the pandemic and is still a popular choice for pet owners.

Omnichannel pet food shopping became more popular during the pandemic and is still preferred by many pet owners.

Something to Chew on

Pet food premiumization: Too much of a good thing?

The pet food market has continually moved to premium and superpremium, helping drive growth, but has it reached its limits for long-term market health?

A focus on the affluent may have its limits when it comes to pet food product development and retail strategies.

Something to Chew on

What pet food manufacturing contributes to the U.S. economy

U.S. pet food manufacturers directly contribute billions of dollars in added value, labor income and output to the economy, along with thousands of jobs.

Flashvector I I Stock com Pet Food Factory People

Something to Chew on

How functional pet food’s consumer appeal ties to buying

Many pet owners show awareness of the importance of pet nutrition to health and wellness, yet only half are willing to pay more for functional benefits.

Pet owner surveys over the past few years show the majority are aware of the key role nutrition plays in their pets’ health.

Pet Food Market

Top pet food companies rising along with overall industry

The largest pet food companies globally keep growing due to acquisitions, product launches, expanded distribution and inflation, guiding the industry’s growth.

Microsoft Teams Image (3)

Pet Food Market

How M&A is shaping the pet food market in 2023

The year so far includes less typical pet food deals such as divestitures of brands and pet food divisions, plus a true merger between two similar companies.

World Business teamwork puzzle pieces 3d rendering

Page 1 of 10