In spite of all the economic uncertainty of the last several years, premium and superpremium pet food categories continue to see growth. Fresh/gently cooked/frozen, freeze-dried and air-dried options are all maintaining their appeal to pet owners, despite a higher price point. But why?
“As inflation cools, consumers are still looking for the best value in pet products, yet premium products continue to sell, attributed partly to humanization trends,” said human and animal nutrition company ADM in a company-published report, “2024 insights report: An inside look at the future of pet nutrition.” According to the report, 72% of pet owners said they would not cut pet food expenses regardless of finances, and 70% consider their pets a family member (some surveys have put that number into the 80s or even the 90s, depending on the population surveyed).
