This episode was recorded at the 2025 Petfood Forum in Kansas City, Missouri. Diana predicts the global pet industry to reach about $500 billion by the end of the decade, compared to $380 billion currently. The US will remain the largest market, comprising about 40%, and is predicted to reach $200 billion compared to $150 billion currently. Healthcare is expected to be the biggest driver over the next five years, and food will remain the largest expense. (5:37)
This episode was recorded at the 2025 Petfood Forum in Kansas City, Missouri.
Diana predicts the global pet industry to reach about $500 billion by the end of the decade, compared to $380 billion currently. The US will remain the largest market, comprising about 40%, and is predicted to reach $200 billion compared to $150 billion currently. Healthcare is expected to be the biggest driver over the next five years, and food will remain the largest expense. (5:37)
The panel discusses some of the drivers behind pet owner decisions, including the humanization of pets. Nicole notes in some of her company’s market research, most pet owners say either their pet is a member of their family or their pet is their best friend. When money gets tight, people are more likely to reduce expenditures on their own healthcare rather than trade down in their pet expenditures. The panel also talks about generational differences in pet owner decisions. Nicole notes pet longevity is a major driver in many decisions. (7:51)
Diana and Nicole discuss how pet trends tend to follow human trends. They cover ingredient quality, snacks/treats, supplements in a treat form and preventative veterinary care. (17:55)
Jeremy notes from a commercial perspective, more pet food/treat companies are requisitioning 100% human-grade ingredients. The panel talks more about customization trends in the pet industry, the movement of luxury brands into the pet sector, and the presence of large food companies at every price point for dog and cat food. (25:56)
The panel discusses how the large increase in pet ownership during the pandemic has impacted and continues to impact the industry (31:50)
Diana mentions e-commerce continues to be a significant driver, with 30% of pet owners in 2025 surveyed purchasing items through e-commerce, compared to 23% in 2023. Amazon and Chewy make up 70% of the pet e-commerce sector. (34:53)
Panelists share their take-home thoughts. (39:25)
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