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As consumer demands increase for high-quality, human-like sustainable pet products, brands and retailers must make the purchase process convenient and fast.
Working remotely, pet owners spend more time with their pets, treating them like family and buying higher-end supplies. E-commerce business has increased as pet owners have embraced online shopping due to the COVID-19 pandemic. As the health and wellness movement spreads, functional and natural ingredients are becoming more important in food and pet care. Sustainability promotes plant-based foods, alternative protein, and recyclable packaging. Humanization, premiumization, health and wellness, sustainability, and digitization, along with the pandemic's beneficial impact on pet care demand, will continue to boost sales in the short term.
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Pet humanization advances: Remote workers spend more time with their pets and treat them like family, buying them things and services they would buy for themselves. According to Euromonitor International's Voice of the Consumer, Lifestyle Survey, 71 percent of pet owners worldwide consider their pets family members, and their number is rising rapidly in developing economies. Western European laws favoring pet rights will further shape pet perception. Consumers love their pets like children, so companies are launching goodies in new popular sweets and savory food formats.
Premiumization: Humanizing pets, owners want to provide them with pricey, high-quality food and products. Brand owners are broadening their premium offers to increase margins as consumers wish for specialized benefits. As few dogs consume less, their appeal boosts market growth and average pricing. Private label involves developing premium items to compete with international market leaders at reduced prices.
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