Britons are predicted to spend 2.9 billion pounds (about 3.8 billion U.S. dollars) on cat and dog food this year, with the market value rising by 16 percent over the past five years, a market research firm has said.

Premiumization and overall inflation have been the driving force behind value growth, said london-based Mintel in a report released Friday.

About 60 percent of Britons own some kind of pet, according to the report.

Meanwhile, data from Mintel also revealed that some 27 percent of dog owners cooked from scratch or served leftovers to their pets in 2019, up from 22 percent in 2018. The scratch cooking and serving leftovers among cat owners represented 21 percent in 2019, higher than in 2018 with 13 percent.

In addition, 45 percent of pet food buyers said they would be willing to pay to have their pet's DNA tested to find the healthiest diet for their pet, said the report.