Market Trends of australia pet food Industry
Cats are the second-most adopted pets in the country due to a rise in the need for companionship during the pandemic
- The cat is the second most popular pet in Australia, and the country has witnessed an increase in the cat population. There is a trend of an increase in the adoption of cats by the people of Australia for the past five years. This trend is due to the increase in pet humanization, cats being able to live in smaller spaces compared to dogs, the need for companionship during the pandemic, increasing urbanization, and the fact that they can be kept indoors without feeling cooped up.
- The country has less number of cat owners as compared to dog owners, but the average cat per household is more than that of dogs. For instance, in 2022, the households owning a cat accounted for 33.3% of the total households having a pet, and the average cat per household was 1.6, whereas the average dog per household was 1.3. Additionally, the country witnessed an increase in the number of homes owing cats from 2.6 million in 2019 to 3.3 million in 2022 due to a rise in the need for companionship during the pandemic. The effect of the pandemic is anticipated to be witnessed for 5-10 years as the average lifespan of cats is more than 20 years.
- The cat as a pet is being acquired by different channels such as animal shelters, friends, breeders, pet stores, and vets. An animal shelter is the acquisition channel used mostly by potential pet parents in the country because of the unbiased opinions, and they disclose all known health problems to potential adopters before releasing an animal for adoption. For instance, in 2022, animal shelters accounted for 28%, whereas pet shops accounted for 11%. Additionally, the purchase of cats from pet stores increased from 8% in 2019 to 11% in 2022 due to increasing disposable income, and the demand for pets was high during the pandemic.
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The growing awareness of the nutritional requirements of pets and the increasing trend of pet premiumization are driving the expenditure in the country
- Australia has been witnessing an increase in pet expenditure during the study period. The increase in pet expenditure can be attributed to growing awareness about specialized pet food and providing different types of pet food, such as snacks, dry pet food, and wet pet food to their pets. These contributed to increasing pet expenditure by 25.3% between 2017 and 2022. Dogs have a higher share than cats and other animals because large-sized dogs consume a high amount of dog food, are more allergic to different foods, and have a higher amount being spent on veterinary products as they are customized diets.
- There are different types of expenses incurred by the pet parents. The different expenses include pet food expenses, pet insurance, veterinary costs, and services such as pet grooming, pet walking, and pet daycare. Pet food has the highest share of the pet expenses incurred by pet parents in the country as the pet parents are procuring products sold under premium brands such as Royal Canin and Purina, growing awareness about different nutrients required by pets, and rising disposable income. For instance, pet food expenses accounted for 30% in 2019, which increased to 51% in 2022.
- Pet parents of dogs and cats have shifted from buying pet food from supermarkets to online stores. For instance, 74% of dog food purchases from supermarkets in 2019 decreased to 64% in 2022, and online sales accounted for 30% in 2022. This change in buying patterns is due to the convenience of buying pet food from anywhere.
- Pet expenditure is expected to increase in the country during the forecast period because of the rise in awareness of the nutritional requirements of pets, changes in buying patterns, and growing pet premiumization.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing adoption of dogs during the pandemic was led by the evolving pet ecosystem and the need for companionship
- The rising popularity of other animals due to the changing preferences of pet owners are driving their adoption in the country
