The pet food/pet care industry in Canada is worth more than 9 billion dollars and is growing at about 4% per annum. Canadians clearly love their pets, with the country being home to 10 million cats, 8.5 million dogs and a wide assortment of birds, fish, reptiles and amphibians. Research Strategy Group asked several questions about this burgeoning industry in a recent Crowd Intelligence Study. Participants were asked to make predictions on a number of topics related to pet care.
Pet owners have begun to apply their dietary preferences to what they buy for their pets, part of a significant trend towards the “humanization” of domestic animals. Pet owners as a group are more likely to be interested in healthier food and transfer these preferences to what they buy for their pets. Owners are increasingly likely to look for dietary supplements for their pets and our prediction market generated a probability of 75% that these types of products will grow in popularity. Even more pronounced was the 91% probability that’s pet treats that have added benefits in the areas of dental health, disease prevention and nutrition will grow in popularity. As part of this “humanization” trend, we tend to assume that our pets will like what we like to eat so it’s not too surprising that the probability that insect protein-based pet foods would grow in popularity was only 44%.
Today’s time stressed pet owners are looking for ways to care for their pets more efficiently. Mirroring the growth of meal delivery services for people, the market predicted that there is a 57% probability that home delivery of pet meal kits will grow in popularity over the next few years. The face of pet grooming appears to be changing as well. Our Crowd Intelligence Study indicated a 68% probability that self-service dog washes will grow in popularity and a 79% probability that mobile pet grooming services will experience notable growth. Convenience seems to be the name of the game!
To learn more about our Crowd Intelligence services or to talk to us about our experience in the pet food/pet care sector please get in touch with Jim Peterson at firstname.lastname@example.org
Source: Research Strategy Group, Canadian Intelligence Report
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