Q2 2023 INDUSTRY UPDATE

• The growing focus on pet health and wellness is driving demand for non-traditional food formats, supplements, pet-tech, and insurance in the pet care sector.

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• Eco-conscious trends in pet food favor sustainability and protein alternatives, diminishing the grain-free appeal.

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• ‘Humanization’ trend boosts growth in DTC and online pet food sales, with a significant uptick expected in fresh and frozen segments.

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• Given current macroeconomic headwinds, it is essential to optimize SKU selection in the pet care industry to maintain market stability and withstand shocks.

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