Treating pets like family is the No. 1 trend fueling growth in the $43 billion global pet food market, according to a report by market research firm Packaged Facts (New York) and Petfood Industry magazine. In fact, the humanization of pets outranked packaging convenience and special ingredient foods—also heavily impacting growth of the market—by 10 percent.

“Global Pet Food Industry Outlook” shows that two-thirds of the world’s pet food makers and marketers identify new pet foods billed as functional, condition-specific and novel-ingredient, along with human-grade ingredients, hyper-premium products and fresh/baked foods among the top growth trends over the next five years. Cultural shifts and product pricing ranked second and third as top forecast factors.

Although mature countries account for nearly three-fourths of new product launches and approximately four-fifths of the industry’s $43 billion retail sales, new-product introduction rates are greater in mid-level and emerging markets.

“Pet ownership and pet food usage is already high in mature markets,” said Don Montuori, publisher of Packaged Facts. “These countries are generally experiencing the lowest growth rates with an average of 3 percent to 4 percent. Many countries in the mid-level and emerging markets, on the other hand, are averaging much higher growth rates due to their lower penetration levels, rising household incomes, and growing pet ownership and pet care interests.”