Market research company Euromonitor International has named the world’s highest spending pet food markets.
Australia, the USA and New Zealand top the table as the three countries with the largest expenditure. The UK enters the chart at number four, paying 201.30 (calculated in US $) for pet food per household in 2016.
UK households spend five times more than the average world household, with standard global expenditure reaching just 36.30.
Paula Flores, Head of Pet Care commented: “The rise of the ‘foodie’ when it comes to manufacturing food for human consumption has meant that greater interest has been paid to cooking and ingredients, as well as actual recipes. The same has been happening in pet food, whereby recipes have become increasingly scrumptious. 2015 saw the launch of more stew-based recipes under brand names such as Cesar, once again replicating tendencies visible in human food.
“The foodie phenomenon has also meant that more consumers are turning to cooking for their pets. This is not jeopardising sales, but, rather, it is driving demand for more innovative products that can help owners to bake treats more easily or prepare different meals for their furry friends.
“Artisanal products, with a particular emphasis on treats, are gaining momentum as many consumers are willing to indulge their pets in more traditional processes. Also, products that are similar to human food, such as ones based on baked/grilled methods, have become more popular.”
For more information on global pet food expenditure go to www.euromonitor.com.