2024’s top pet industry concern: Consumer spending

The current pairing of premiumization and more conservative spending habits have industry experts reaching for possible solutions.

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While the pet food industry has inarguably shown itself to be resistant during shaky economic times, pet owners are still being affected by financial challenges.
While the pet food industry has inarguably shown itself to be resistant during shaky economic times, pet owners are still being affected by financial challenges.
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Pet-owning households all over the world are in a quandary: While firmly planted pet humanization has owners looking toward the premium end of pet products, a consistently down economy and a year of record inflation have set nearly everyone back in terms of spending. Nevertheless, data show that those with furry friends still want to spend on their animals … they just want to do it more thoughtfully.

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