UK pet owners are now investing much more in quality of life; spending a record-breaking £7.16bn on their animals in 2016.
Pets are living longer and, as a result, suffering from age-related conditions such as joint, coronary, cognitive, and immune-system issues, and even diabetes and cancer. Because older pets require specialized care, prices for senior pet products and services can be well above average, allowing companies to earn more revenue.
The pet industry saw a wave of premiumisation in 2014, such as organic and natural treats, food, and toys, as well as high-tech medical therapies, prescription medications, and luxury services, with high-income households expected to be a major demographic for pet product brands.
Many companies and brands still push the human/pet bond theme that we have seen in past marketing and PR campaigns. Pet companies understand that the love humans have for their pets is a driving factor in their spending.
Overweight Pets are an ongoing concern; excess weight can aggravate joint disease and heart conditions, lead to Type 2 diabetes, and even create skin conditions.
Nutrition Group is able to formulate and manufacture animal health products to customer specification. We love working with innovative partners who are looking for high growth opportunities and who need suppliers with the capabilities of quick scale up. For more information contact us today.