Pet Owners Boost Sales of Sustainable Pet Food and Treats Despite Higher Prices
Pet owners are increasingly prioritising sustainability when choosing food and treats for their pets, despite the products' higher price. This shift, driven by growing consumer awareness, has led to significant growth in sales of sustainably marketed pet products from Petco and Petsmart.
From 2015 to 2019, pet treats bearing sustainability claims saw a remarkable 70% sales growth, far outpacing the 30% growth of those without such claims. However, the impact on pet food was less pronounced, with no significant difference in sales between sustainable and non-sustainable options.
The COVID-19 pandemic did not deter this trend. In fact, the share of pet food products marketed with sustainable production methods increased between 2019 and 2020, indicating a strong consumer demand for eco-friendly products even during economic uncertainty.
While sustainable pet food and treats maintain a small share of the overall consumer packaged goods (CPG) market, their price premium has not deterred consumers. In 2020, sustainably marketed products continued to grow and increased their share of the entire CPG category to 16.8%. As consumer awareness and demand for sustainability continue to rise, the pet industry is expected to follow suit.
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