Consumers determine the future direction

The great atmosphere at the world‘s leading exhibition, Interzoo, should not disguise the fact that the pet industry, which is used to success, has also seen better times. The costs of almost everything have risen massively in recent years. For good staff, for logistics, for raw materials and for packaging. Europe‘s already excessive bureaucracy, with its constant stream of new regulations, has become an even greater burden on the economy. What has remained the same or even declined is sales.

There are many reasons why the pet industry has suddenly experienced a downturn after the growth spurt of the Covid-19 years: a growing reluctance to spend among the population, increased price sensitivity, changes in the purchasing behaviour of many consumers, massive increases in veterinary costs in some countries and probably also the current crises in the world, which are paralysing more than a few. Many people still own a pet, but the population figures have fallen slightly for the time being, with the exception of cats. Consumers have changed their buying habits significantly, and this has had an impact on the industry.

After the strong growth in the Covid-19-pandemic years, it comes as no surprise that the sales curves in the pet supplies industry are no longer pointing so strongly upwards. It is good to see that many industry experts have not lost their optimism, even in these difficult times. Unlike many other industries, the pet industry continues to offer great growth potential for the future. Pets are gaining family status in more and more countries. The humanisation of pet ownership continues. Pet wearables, services such as pet insurance, sustainably produced pet food and greener cat litter are just some of the areas that will offer many market opportunities for resourceful and dynamic companies in the years to come. Personalised pet products are also still very much in vogue with pet owners.

There will be a lot of activity in the pet products market over the next few years. There is a hunger for new ideas. There is still a demand for…