Exhibit 2 - UK pet food industry

Question 1

What is the global market for pet food worth? And growth?

Answer 1

£100bn, 5% P.A.

Question 2

What is the 2022 UK market forecast worth for pet food?

Answer 2

£3bn

Question 3

How much of the UK pet food market is made up by dog food?

Answer 3

50%

Question 4

What are the drivers of growth in the market?

Answer 4

Increased pet ownership, increased pampering of pets, specialist pet food

Question 5

How many pet food manufacturers in the UK?

Answer 5

Around 100

Question 6

What is the trade body for pet food manufacturers?

Answer 6

Pet Food Manufacturers Association (PFMA)

Question 7

What percentage of UK households own a pet?

Answer 7

59%

Question 8

What percentage of UK households own a dog?

Answer 8

33%

Question 9

What percentage of UK households own a cat?

Answer 9

25%

Question 10

How much % did UK pet ownership grow in late 2020 / early 2021?

Answer 10

10%

Question 11

Who are the main drivers of pet ownership growth?

Answer 11

Young people 16 - 34 (half of new owners)

Question 12

Market channels?

Answer 12

Supermarkets, vets, pet stores, garden centres, local breeders

Question 13

Who owns vets?

Answer 13

30% large corporations, 20% smaller chains, 50% independent

Question 14

What percentage of the UK pet food market is digital?

Answer 14

10%