A new trend has set among pet owners, known as ‘functional pampering’- which is driving the premium pet products market. This is the latest example of how much care pet owners lavish on their pets.

Owners who make big money and spare no expense in caring for their pets (nicknamed uber-owners) are occupying a significant share of the $47 billion pet market. One in three pet-owning households in the United States qualifies as a premium pet household. That translates to 17.4 million of the 52.8 million dog- or cat-owning households being premium.

Premium pet households can be defined as the following, single-person households with an income of $50,000 or more, two-person households with an income of $75,000 or more, and three or more person households with an income of $100,000 or more.

While some of this growth emerges from an expanding base of high income households, it also represents a marketing success as trendspotters have tapped into premium pet owners’ enthusiasm for pampering their pets by supplying them with super-nutritious products, irrespective of cost.

The estimated pet food business, in the U.S. is said to be worth $16.1bn for 2007. Left over scraps and cheap tinned food are a thing of the past. The pet food industry is now seen to be very sophisticated and marketed to pet owners in a very appealing way. Phrases such as ‘juicy meat’ or ‘contains vitamins and minerals’ are designed to target the owner rather than the pet.

Analysts point out that pet products are increasingly being modeled along the same lines as those for humans, and familiar brand names are crossing over from the human side to the sell in the pet market. Caring pet owners – especially those who are single, or older couples whose children have left home, and DINKYs (dual income, no kids yet) are among the consumers creating a demand for premium pet products and services.
As we now spend more than ever on our furry friends, the market looks set to grow and grow.