The weak economy has encouraged many consumers to stay home where they spend more time with their pets. A Boston Globe article suggests this is why natural, premium pet food sales are soaring.
Shoppers who purchase organic and premium food for themselves are increasingly adding those same high-quality ingredients to their pets’ diets. Natural pet foods are generally free from artificial preservatives, flavors and dyes. And, according to Packaged Facts, the natural pet food market has more than doubled to $1.5 billion since 2005. It is projected to hit $2.6 billion by 2014.
The Boston Globe reported all these sales despite the weak economy may be due to consumers no longer eating at restaurants or going on vacation. Thus, more people are spending time at home with their pets, which highlights the pets’ importance in the family.
This, along with a focus on preventive care and the 2007 pet food recall, has led to shoppers who are more willing to pay up to 20 percent higher for quality ingredients, reported the Boston Globe. This has made the way for companies, such as WellPet and Nature’s Variety, that offer more expensive products, to thrive.