Business intelligence company, Euromonitor, has released a new global briefing, investigating the way pet owners view their companion animals.
Premiumisation in the Age of Pet Parenthood claims that pet owners are increasingly ascribing human attributes to their pets. More owners in the US, the UK and Japan view themselves as their pet’s ‘parent’, even referring to themselves as their animal’s mother or father.
The report found that pet lovers are becoming more likely to splash out on treats and presents for their pets to celebrate events such as Christmas and Valentine’s Day.
Euromonitor suggests that these changes have created a level of resemblance between the pet food and baby food markets, that sees an emphasis on natural ingredients and has defied the recession and economic downturn.