Pet food consumers are more likely to switch brands or products due to concerns about sustainability, according to a recent consumer survey conducted by L.E.K. Consulting. Additionally, these consumers are much more likely to pay a premium for sustainable pet food products compared to other consumer-packaged goods (CPG).

…

Twenty percent of consumers purchasing pet foods and treats reported they “definitely would” pay a premium on sustainable pet food products, 34% reported they “probably would,” 26% reported they “might or might not,” 13% reported they “probably would not,” and a mere 7% reported they “definitely would not.”

Despite the fact that consumers are more likely to pay a premium for pet foods and treats, the amount they are willing to pay is much lower compared to other CPG categories. According to the survey, consumers are willing to pay an 8% premium for sustainable pet foods, whereas they are willing to pay a 24% premium for fresh/frozen food and beverages.

This is an excerpt. Read the original post here