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Paws down, 2014 was a good year for the Canadian pet market, with strong pet food sales leading the charge. In fact, the Canadian pet food market seems to be doing so well it is literally bursting at the seams, with Canadian pet food manufacturers Elmira Pet Products and Open Farms expanding into the U.S. in 2014 and 2015.
What was different in 2014? Certainly a stronger Canadian economy played its part, providing more disposable income for those pet owners keen on treating Fido and Fluffy. The sheer breadth of premium and superpremium products now available to choose from also helped, enticing pet owners to purchase new and varied foods, treats and supplies even as the higher prices and margins for such premium products expanded the value of those sales. Canadians pets are now part of the family, and who doesn’t want to buy the best for a loved family member?
Another factor is that everyone is getting old in Canada. Baby Boomers are a growing percentage of the population and dogs and cats over 7 years old account for over a third of all pets. And as we all know, health care costs grow as you get older, and that is certainly just as true for pets as it is for people. This hasn’t translated into a lot of growth for veterinary clinics-too many Canadian pet owners shy away from the high costs. Instead, pet owners are flocking to pet foods and treats catering to specific health concerns as a way to hopefully stave off more vet bills.
Looking for more information on who’s doing what and how for pets in Canada? You can find more information on the growing Canadian pet market, including a full chapter on consumer trends based on Packaged Facts proprietary survey data, in Packaged Facts’ 2015 edition of its Canadian Pet Market Outlook report. Purchase your copy today by visiting: http://www.packagedfacts.com/Canadian-Pet-Outlook-9022139/.
- By Norman Deschamps