26 Apr LUNCH TIME! PET FOOD PRODUCTS ARE SET TO EVOLVE
The pet food industry has been on a tear as of late, and it shows no signs of slowing down. According to a report by Grand View Research, the global market for it is expected to reach USD 127.21 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027. As the number of pet owners continues to rise, the demand for pet food is expected to increase as well. I’m thinking it’s a good time to consider what tomorrow will hold.
For instance: Pet owners are becoming increasingly concerned about their pets’ health and wellness, and this trend is expected to continue in the future. As a result, there is a growing demand for pet food that is healthy, nutritious, and made from high-quality ingredients. Manufacturers are responding by introducing new products that cater to pet owners’ health and well-being concerns.
For example, we’re seeing greater use of natural and organic ingredients. Pet food manufacturers are increasingly using components that are sourced from organic farms and are free from artificial additives and preservatives. Companies that offer natural and organic products are likely to attract more customers.
The future of pet food will also be defined by customization. Pet families are looking for products that are tailored to their animals’ specific needs, and companies that offer customized pet food are likely to attract more customers. For example, some companies now offer dining options that are tailored to a dog or cat’s age, breed, and health condition. Firms that offer personalized pet food are likely to succeed in the market going forward.
The sustainability trend is also expected to shape the future of pet food. Nutritional providers are increasingly looking for ways to reduce their carbon footprint and use sustainable packaging materials. For example, some dog and cat chow companies are now using recyclable packaging materials and reducing their use of plastic.
You can also anticipate seeing the field to lean more heavily on technology in the years ahead well. Some companies are even now using artificial intelligence to analyze pet food data and make specific tailored recommendations for pet owners. This technology can help humans choose the right food for their furry friends and ensure that their fur-ever buddies are getting all the nutrients they need. Moreover, some companies are using technology to create new pet food products, such as insect-based protein sources.
The use of alternative protein sources is also on the uptick. As the demand for meat-based protein continues to remain in flux, some pet food manufacturers are exploring alternative sources of protein, such as insects and plant-based proteins. Firms that invest in alternative protein sources are likely to enjoy growing interest.