Joshua Dreller, Sr. Director, Content Marketing @ Skai
Joshua Dreller, Sr. Director, Content Marketing @ Skai
Recent statistics show nearly 500 million dogs are and 400 million cats are kept as pets worldwide. And those numbers don’t include the various mice, turtles, birds, fish, reptiles, and other unusual animals that people keep as domesticated animals.
Attitudes toward pets have changed in general over the last few decades. More than ever before, consumers now view their pets not just as animals but as part of the family. Dogs are referred to as ‘fur-babies,’ and owners refer to themselves as parents, illustrating the elevated status that pets now occupy in the family unit.
Today, with so many people working from home, pets have become a more important part of the family than ever. In fact, 21% of pet owners reporting spending more money on their pets during the Covid-19 pandemic than pre-pandemic.
Here are some rather exciting pet products you may be interested in owning:
The global pet food market is expected to grow from $75.3 billion in 2021 to more than $90 billion by 2025. So, how can pet food companies keep up with the demand and grow successfully with so much competition?
Consumer and market intelligence platforms like Skai are increasingly used by pet food brands looking to keep a finger on the pulse of what is happening in the category in real-time and get ahead of the latest trends.
Skai collects more data than anyone else relevant to pet food (social reviews, product listings, ratings, reviews, patents, etc.) so that brands don’t miss a thing. Then, we apply natural language processing so that it’s easy to extract what is happening in the pet food category and why — and what will happen in the future. And we visualize the data in a way that makes it easy to understand for anyone from Insights, Marketing, Brand, Product Innovation, and more.
Our Pet Food category includes data from over:
So what is the data showing us? Let’s take a look!
Throughout the years, numerous studies have proven that pets offer mental health benefits to humans. For example, they can help reduce stress, anxiety, & depression, ease loneliness, and encourage exercise.
But, who’s looking out for Spot’s mental wellbeing? It’s not like your dog or cat can ask you for a mental wellness day or speak to a therapist. However, it’s common knowledge that food can affect our mental health, so it’s no surprise that pet owners are interested to learn more about how food can impact their pets’ mental health too.
There has been a 301.4% increase in pet food consumer discussions over the last 12 months related to Mental Health, yet less than 6% of pet food products mention having this benefit.
Thirty-one pet food patents have been filed in the last five years that discuss mental health benefits. While that’s certainly not a tsunami of new products yet, this could be a new area for pet owners to focus on as a way to give back to those furry creatures who are so willing to help lift our spirits yet ask for so little in return.
To find out what’s hot, what’s not, and what’s next in your industry, please reach out today to schedule a brief demo of Skai’s market intelligence platform.
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