The growth in the pet industry has been quite explosive over the years. Pet ownership has increased in the last three decades, from 56% to 68%. This can be attributed to the millennials and the consumers belonging to Generation Z, who have whole-heartedly embraced the role of pet parents.
Here are the current top Australian pet industry trends.
Pampered and Loved Pets
Nowadays, people are treating their pets, much like any friend or family member. In several cases, even more so. From throwing them birthday parties to celebrating Christmas with them and commissioning luxurious beds and in-house play areas for them, pet pampering has reached a new height.
Rising Nutritional Standards
A growing number of millennials are turning to pets for companionship. In some cases, they would rather compromise on their own expenses than cut back on their pet’s costs, which has given rise to farm-to-table pet food and premium pet nutrition. The diverse, organic, human-grade ingredients are becoming a common occurrence in pet food. Although premiumization has been a trend in dog food for some years, cat food is catching up, with brands now offering unique, enriched food for felines, birds, and other pets.
Only the Best for Pets
Splurging on pet essentials and accessories is becoming a common occurrence. The remainder of the year will see a noticeable rise in pet owners investing in pet resorts, an outdoor playground specially designed for pets, patios transformed as a luxurious pet-friendly oasis, pet fashion from every day wear to novelty clothing, bakeries now offering dog cakes and Uber now allowing pets onto rides.
Pet Wearable and Gadgets
Technology has invaded most of our homes and integrated fully into our lives. Pets are not immune to technological convenience. Expect to see smart gadgets and accessories for your pets such as activity monitoring apps and devices. These products will help you keep track of a pets’ mood and feelings, see whereabouts they are in the house if you are out and provide interaction remotely.
By 2025, the pet care industry is expected to witness global market growth of US$202.6 billion. Pets have become an integral part of not only our lives but our economy as well, with new and more sustainable products making way into the market. So, which trends will you be indulging in this year?