Research firm Packaged Facts reports the results of a recent survey conducted in June. According to the survey, 70 per cent of pet owners in Canada agree that they are spending more on pet products than in the past due to inflationary price increases. At the same time, other pet owners said they were cutting back.
Almost 40 per cent of respondents said they were spending less on pet products due to the economic situation. This was due to the economic pressures of the pandemic, followed by more than a year of price increases.
Canadian retail sales of dog and cat food totalled nearly 3.9 bn dollars in 2023, up 2 per cent from 2022 due to inflation. Sales volume decreased over the same period.
The results of the national survey also show that 68 per cent of Canadian dog and cat owners are willing to spend more on pet food with added health and wellness benefits. In particular, fresh, gently cooked pet food is on the rise in Canada.
