Source: Pet Food Processing / Sosland Publishing Co.

BOSTON — Lauren DeVestern didn’t set out to build a career in the pet industry. After joining L.E.K. Consulting in 2010, she worked across a wide range of consumer and retail sectors, but she found herself repeatedly drawn to pet and animal clients. That curiosity eventually evolved into a leadership role, and today she heads the firm’s global Pet & Animal practice.

Along the way, her perspective has been shaped not only by her work with leading companies and investors, but also by life as a devoted pet parent. From helping clients navigate the uncertainty of the COVID-era pet boom to developing research tools and market insights that give companies a clearer picture of consumer behavior, DeVestern has a bird’s eye view of where the pet industry is today, and where it’s headed.

“We’ve built deep expertise across the full pet ecosystem, which allows us to connect the dots in ways that narrower coverage can’t,” she said.

In this Q&A, DeVestern reflects on her journey from consultant to pet industry thought leader, the value of viewing the market through a holistic lens, and the consumer and industry trends that are redefining growth, innovation and long-term opportunity across the pet sector.

PFP: How did you get your start in the pet industry, and how did that experience lead you to where you are now?

DeVestern: When I first joined L.E.K. Consulting in 2010, I was advising a broad range of consumer and retail clients. Pet and animal clients were the ones I got most excited about, so I kept leaning in. Over time, that became an increasingly important part of my work, and today I lead the firm’s global Pet & Animal practice.

I also got my dog right around when I joined, and she’s now 15 1/2. For a long time, I was living the industry both at work and at home, which made it easy to stay curious about the category and care about getting the answers right for clients. Pet is also an industry where the consumer connection is very personal, and being a pet parent myself has always made that especially tangible.

PFP: What has been your biggest challenge — personal or professional — related to your work in the pet industry?

DeVestern: COVID, and the post-COVID ripple effects that followed, have been one of the biggest challenges. It was a hard stretch for our clients and for us. Pet adoption surged, demand swung sharply across categories, and suddenly it was difficult to get a clear view of what was happening to the pet population, let alone predict where it was headed.

The challenge was separating temporary shifts from more lasting changes in consumer behavior and the market. Companies still had to make important decisions at a time when many of the usual reference points were moving. Even several years later, parts of the industry are still working through those effects.

PFP: Tell me about a professional accomplishment in the pet industry that you are proud of.

DeVestern: One accomplishment I’m proud of is building a holistic view of the pet industry. When I looked at how others approached the sector, the coverage often felt fragmented — focused on pet food and consumables, veterinary care or other categories in isolation. But pet parents don’t think in silos, so we shouldn’t either.

We’ve built deep expertise across the full pet ecosystem, which allows us to connect the dots in ways that narrower coverage can’t. The same pet parent is making decisions across food, products, services, veterinary care and wellness, and having that broader perspective helps us better understand the dynamics shaping the industry.

I’m also proud of the proprietary research and tools we’ve developed along the way, including our pet population model and research on pet parent behavior. These tools and insights have become highly sought after by companies and investors and, most importantly, help our clients make better-informed decisions.

PFP: What is top of mind for you and/or your business in the industry right now?

DeVestern: Right now, it’s helping clients optimize both the top line and the bottom line in what is a softer volume environment for many pet subsectors, particularly those focused on dogs. Volume growth isn’t what it was a few years ago, so we’re spending a lot of time on two fronts: identifying real pockets of revenue growth and finding opportunities for margin optimization so companies can continue investing in their businesses.

That requires being much more precise about where the opportunities are and understanding which areas of the market continue to offer attractive growth.

We also work with investors and M&A advisors, and the question there is whether now is the right time to invest. That means separating what’s cyclical from what’s structural and being clear about which parts of the market still offer attractive long-term growth.

“Consumers are increasingly looking for products that deliver a more specific value proposition, whether that relates to format, function, wellness, or another clearly defined benefit,” said Lauren DeVestern, L.E.K. Consulting.

PFP: If you could pick three trends influencing the industry today, which are the most important and why?

DeVestern: The rise of cats. Cat ownership is growing, reflecting a broader cultural shift, particularly among younger generations who see cats as a better fit for their lifestyles. That’s changing where growth comes from across food, products, and services in an industry that has historically been more focused on dogs. It also creates opportunities for companies to think differently about how they serve cat households.

The next wave of premium in pet food. Premium is being redefined. Pet parents are looking for less processed options, alternative formats, and more targeted benefits, pushing the premium and super-premium tiers beyond the largely ingredient-focused claims we’ve seen in the past. Consumers are increasingly looking for products that deliver a more specific value proposition, whether that relates to format, function, wellness, or another clearly defined benefit.

The shift from pet care to proactive pet health. Pet parents are increasingly focused not just on treating illness, but on keeping their pets healthier for longer. That’s driving interest across preventive care, diagnostics, supplements, nutrition, and other products and services focused on longevity and quality of life. It’s also creating opportunities for companies to engage with pet parents throughout more of their pets’ lives.

PFP: What is something about the pet industry that people outside of the industry may not realize?

DeVestern: That “pet parent” isn’t just a marketing term. People really do make decisions for their pets like they’re members of the family — sometimes with higher standards than they have for themselves.

That mindset influences almost every part of the industry. It helps explain why pet parents spend so much time thinking about what they feed their pets, which products they buy, and how they approach their pets’ health and wellbeing.

PFP: What advice would you give to other women in this industry?

DeVestern: Build your network. The pet industry is still a fairly small world, and relationships matter. The more people you get to know across the industry, the more context and perspective you build — and those relationships tend to pay off in unexpected ways over time.

I’d also encourage other women to develop a point of view and be willing to voice it. You don’t need to know everything to contribute something valuable. Build expertise in the areas you care about, do the work to support your perspective, and have confidence in what you bring to the conversation. Some of the most valuable opportunities come from being willing to contribute your perspective rather than waiting until you feel like you have every answer.

Lauren DeVestern’s dachshund mix Mia.

PFP: Just for fun, do you consider yourself a dog person or a cat person? Or, if you have pets of your own, tell us a little bit about them. 

DeVestern: I had dogs growing up, and my husband is allergic to cats, so I suppose the decision was made for me! Our dog, Mia, is a dachshund mix who weighs about 20 lbs and is now 15 1/2 years old.

True to industry trends, she was treated like our first baby. We took her everywhere, vacations included. She was less than thrilled when we brought home an actual baby, our son, in 2023, but three years later, she’s very slowly coming around to the idea.

Lauren DeVestern is a managing director and partner in L.E.K. Consulting’s Boston office, where she leads the firm’s Pet & Animal practice. She advises leading companies and investors across the sector on growth and commercial strategy, operational improvement and optimization, consumer and category dynamics, go-to-market strategy and M&A. Her experience spans the full pet and animal landscape, including food and consumables, products and supplies, services, and animal health. Her work extends across companion animals as well as the broader large animal and production animal markets, giving her a comprehensive perspective on the trends, challenges, and opportunities shaping the sector. DeVestern is a recognized thought leader in the pet and animal sector and a frequent author and speaker on topics including consumer behavior, brand and category dynamics, premiumization, wellness, innovation and emerging growth opportunities.

Continue reading about other female leaders featured in our Women in the Pet Industry series.