News: Pet owners splurge on premium food

According to a recent article on MSNBC, pet owners are splurging on premium foods for their animal companions.
"The premiumization trend in the global pet food market indicates that pet owning consumers are as willing to spend more on premium food infused with health fortifying ingredients such as glucosamine, omega fatty acids, antioxidants, and probiotics for their pets as they are for themselves.

Premium pet foods cover all bases -- from natural/organic to functional/nutraceutical to special diet (segmented by lifestage, weight, health condition, breed, etc.) to gourmet -- while also often reflecting trends in human foods.

North America accounted for the largest share of global pet food sales in 2008 with 40%. "Particularly in the United States, the premiumization trend goes beyond the tendency Americans have to be better educated about health and nutrition issues. In addition, the pervasive humanization dynamic cannot be underestimated. Pet owners often view their pets as part of the family, or even as surrogate 'children.' Thus they are looking for the safest and healthiest products possible," says Tatjana Meerman, Publisher of Packaged Facts. "
To read more, visit the MSNBC website article.

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