Source: Pet Food Industry 

In a recent analysis, Suzy Badaracco from Culinary Tides described the current economic situation, particularly in pet food markets, as in a “stall pattern.” Although inflation rates for pet food in the U.S. and some other countries have moderated from peaks seen 18 to 24 months ago, prices remain significantly higher than pre-pandemic levels. For instance, U.S. pet food prices are still 23% higher than in 2021 and 25% higher than in 2019.

A survey by Yummypets across the U.S., Canada, France, and the U.K. revealed varied responses among pet owners. While 43% in the U.S. and 40% in Canada have reduced spending on pet food, treats, or toys, French pet owners appear less affected, with 62% even increasing their spending. Economic concerns have prompted 48% of respondents overall to consider switching to lower-priced pet foods, with higher percentages among cat and small mammal owners. The survey also highlighted a cautionary trend: 24% of pet owners in all four countries are cutting back on pet treats amid economic uncertainties.

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