by Noah Miller
February 7, 2017
Check out Packaged Facts' newest pet food report, Pet Food in the U.S., 13th Edition
In the U.S. pet market, consumers view pets as family. Pet marketers know that Millennial consumers - aged between 18 and 34 - not only have pets of their own, but are also ready to coddle them using the most sustainable (and sometimes economic) ways possible. The organic pet food industry generates billions of dollars each year, driven by younger current and prospective pet owners. Trends in pet food are increasingly bending to a millennial cohort that wields significant buying power, an impact Packaged Facts explores in our report, Millennials as Pet Market Consumers.
The trend toward natural, organic pet products is nothing new in the U.S. pet market, especially as product lines both big and small respond to organic pet industry trends. Traditionally baby boomers have dominated the pet market consumer landscape and set trends in pet food. Pet owners aged 40 to 54 spend the most on pet products, but since they spend less after reaching the age of 60, and because more and more baby boomers have reached or are closing in on their 60th birthday, millennial spending on pets is bound to set trends in the pet food industry.
More millennial pet owners brought up in an increasingly health-conscious U.S. - and fewer baby boomers - predicates an upward trajectory for the trend toward organic pet food. Packaged Facts’ National Online Consumer Survey data identify 1 in 3 of U.S. pet owners as millennials, responsible for 43% of pet owner growth between 2007 and 2015. As millennials get older and their budgets increase, natural pet food market growth will become increasingly apparent.
Packaged Facts' report, Millennials as Pet Market Consumers, covers trends in pet food, particularly millennials' impact on the pet products market and their inclination toward natural, organic pet food products. The report's most telling results include:
The pet food market’s consumer landscape is changing, with the organic pet food industry trending toward younger, informed consumers. Packaged Facts’ blog post For pet marketers, the natural and organic segment is competitive catnip noted the growing importance natural and organic ingredients have in pet foods. Transparency in pet products’ content and sourcing is even more significant if pet marketers want to attract the millennial pet owner. One logical (and profitable) response is producing and promoting organic pet food products whose green contents are clearly labeled. If pet markets can reassure millennial owners their pets will be happy, healthy family members, the pet food industry will have a long-lived future of its own.
For U.S. pet market sales projections and the most crucial trends in pet food, visit Packaged Facts' report, U.S. Pet Market Outlook, 2017-2018, which examines the most important developments shaping pet market size and the organic pet industry's overall growth.
Discover more about the growing U.S. pet products & services industry in Packaged Facts' pet market research reports. You can also find more information regarding the natural pet food industry through our pet food market reports.
-- Noah Miller
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