Petfood Forum 2019

Premiumization: The evolution of pet food’s most important growth driver (Room Grand Ballroom A)

30 Apr 19
9:15 AM - 9:45 AM

Tracks: Petfood Forum Full Schedule, Petfood Forum Full Schedule; Petfood Forum General Sessions, Petfood Forum General Sessions

Speaker(s): Jared Koerten, Head of Pet Care, Euromonitor International;

Moderator(s): Greg Aldrich, Research Associate Professor/President, Kansas State University/Pet Food Ingredients & Technology

Jared Koerten, head of pet care at Euromonitor International, examines premiumization as a global megatrend, exploring the drivers, motivations and sociodemographic shifts behind it. Premiumization has been the growth engine for dollar sales in pet food. At the same time, underlying drivers of premiumization as a megatrend are shifting across industries. In the past, premiumization focused on the betterment of pet owners and their companions, emphasizing health and safety. The future, however, is being shaped by new frontiers in premiumization like curation, partnership and personalization. Sociodemographic trends are creating new frontiers for premium-led growth, as untapped markets and pet owners look for opportunities to trade up.