Opening our hearts and wallets: Global pet spending continues to rise
There’s really nothing quite like the warm and happy welcome we receive from our family pets when we return home, whether we’ve been gone all day or for just 15 minutes. For many people, pets are more than just animals; they’re part of the family.
In the United States, 94% of pet owners consider their pets to be valued members of the family, according to a survey by the American Pet Products Association (APPA). Our pet spending reflects that sentiment. In 2022, Americans spent more than $136 billion on pet food, supplies, veterinary care and other pet-related services, the APPA said.
The U.S. has the largest pet industry, followed by Europe and Asia. Over 50% of U.S. consumers purchase premium pet food, 33% give their pets vitamins and supplements, and 21% cook for their pets, the survey found. In 2021, American pet owners spent about $50 billion on pet food and treats.
The global pet industry is worth an estimated $320 billion, and that number is expected to continue to grow, thanks to an increasing number of pet owners, rising pet care costs and higher demand for pet-related products and services.
The tendency to treat pets like humans is driving product innovation, said Kami Grandeen, sales manager of Alltech’s North America Companion Animal Business. Some recent pet innovations and trends include freeze-dried foods, powdered toppers and broths, mealtime enrichment mats, smart feeders, DNA and microbiome test kits, exercise GPS devices and more.
National Pet Month emphasizes proper pet care
In the U.S., the month of May is celebrated as National Pet Month. (It is celebrated in April in the United Kingdom.) The annual observance celebrates the joy and benefits of pet ownership and raises awareness about responsible pet ownership, promotes the welfare of pets, and encourages the adoption of animals from shelters and rescue organizations.
National Pet Month serves as an opportunity to emphasize the importance of proper pet care, including providing a balanced diet, regular exercise and veterinary care for pets. Nearly 90% of U.S. pet owners say their pets’ health is an important as their own, and healthy aging for their pet is a top concern.
Nutrition plays a prominent role in maintaining pet health and vitality. Pet nutrition is deeply connected to the composition and diversity of the microbiome, which plays a significant role in the proper function of the digestive tracts and immune systems of dogs and cats. A healthy microbiome leads to better overall health and well-being for our furry friends.
Alltech pet feed ingredients and supplements improve the gastrointestinal microbiome, maximizing health and longevity. Its diverse platform of core pet technologies can support digestive health and immune system function, help develop healthier skin and coat, and promote joint, heart and brain health.
Those technologies include prebiotics, essential nutrients to feed good bacteria (Bio-Mos®, Actigen® and Deo Pet); probiotics, hand-selected beneficial bacteria strains (Lacto-Sacc®); postbiotics for gut health and immune system regulation (Tynagen™); minerals, building blocks for the whole body (Bioplex® and Sel-Plex®); and boosters, specialized micronutrients for optimal digestion (Nucleo-Sacc™, Acid Balance Pet, and Alltech® Nvgen Pack).
While prebiotics and probiotics have been key additives in the pet food industry for several years now, the innovation of postbiotics is a breakthrough in pet gut health. New research demonstrates that postbiotics can maximize animal health by introducing metabolites directly into the gut unlike ever before. Tynagen™ introduces postbiotics directly into the gut and can help build the animal’s natural defenses, especially during bacterial challenges.
Pets are cherished members of our families. Just as we love and care for them, it is essential to prioritize their well-being by providing them with nourishment that supports their growth, helps them maintain a healthy weight and strengthens their immune systems. Good nutrition is an investment in your pet’s health and vitality — and in their long-term health and happiness.