Purina has revealed eight key trends predicted to shape the future of the petcare market.
The data has been released as part of their Purina in Society Report, which also details emerging challenges for the petcare industry, based on insights from market research and more than 100 interviews to industry experts.
1. Increase of pet ownership
Recently published Euromonitor figures show an acceleration in pet acquisition across Europe, the Middle East and North Africa, compared to 2019 where pet population growth was 3m. 2020 saw the total pet population grow by 5.1m across the region, representing an incremental growth of 70%.
2. Changes to the future of work
As a result of the recent requirement for remote working.
3. Shift to e-commerce
Historic share gains for e-commerce were amplified last year as shoppers looked to socially distance.
4. Growing preference for alternative ingredients/alternative proteins
Declining natural resources on a global scale puts pressure on reducing consumption or finding alternative sources. Moreover, as millennial pet parents treat their dogs and cats like a member of the family, more dogs are now consuming flexitarian diets, with food made from animal and plant proteins.
5. Continued demand for more natural food
Driven by both health and animal welfare concerns.
6. Elevated understanding of the societal impact of pet ownership
And the opportunity to positively affect human health, education and communities.
7. Seamless, AI enabled, and optimised solutions including personalised nutrition
People are turning to intelligent ways of managing their lives through digital technology, powered by big data, AI and predictive intelligence. As tech fuels better consumer experiences and new services in other areas of their lives, people’s expectations for seamless, customised and enjoyable products and experiences in pet care will become heightened.
8. New demands for corporate transparency
Consumers want to be able to assess the environmental impacts of their purchasing decisions including environmental impacts and animal welfare in the value chain; ingredient transparency.
Challenges predicted for the petcard industry
1. Supply chain resilience
During 2020, manufacturers faced unprecedented challenges in a global pandemic. Obstacles with a healthy workforce, procuring raw materials or in cross-border trade did in some cases impact stocks and could impact in the nearer future.
2. Inequal access to affordable pet care products
Due to both availability and the impact of the pandemic on income.
3. Scarcity of ingredients
And the need to manage the availability of resources to stay within the planetary limits.
4. Nestlé Group commitment to net zero
And potential new business models.
5. Environmental impact of sourcing and packaging
On our planetary health.
6. Continued technology-driven transformation of the economy
And the way we live our lives and produce petfood.You can view the full report here