Pet Food is a Growing Food with Integrity Market
Our Foods with Integrity investing theme is expanding to include more of our loved ones. That’s right it’s moving past family and friends to include our pets as the food with feed them goes all-natural, grain free and includes vegetables and fruits. Just like with people, these good for Rover products are growing faster than mainstream products;
“Just like people spend more money on their own good nutrition, they also want to do this for their pets,” Nestlé Chief Executive Mark Schneider said in February.Pet owners in developed markets are cultivating stronger emotional bonds with their dogs and cats, motivated by later marriages, smaller families and elevated divorce rates, according to Euromonitor.
In 2016, the U.S.’s 84.6 million pet-owning households spent $28.2 billion on pet food, up 23% from a year earlier, according to the American Pet Products Association. That translates into $333 spent per household last year.
Source: Beef Stroganoff for Your Dog? Pet Food Goes Upscale – WSJ
