Depending on which consumer research you look at, somewhere between 74% and 80% of people say they are trying to limit or avoid sugar in their diet. Consequently, the mandatory labeling of added sugars on the Nutrition Facts panel of packaging as of January 1 of this year couldn’t have come at a more opportune time...READ MORE
In my last blog, I contemplated how the COVID-19 pandemic would impact pet food sales. Of course, like everyone else, I saw the initial stockpiling back in March. But now it’s mid-May and market watchers have had a chance to absorb some of the consumer behavior taking place. According to Nielsen’s Sean Simpson speaking at a recent Petfood Industry webinar, the pet food segment ...READ MORE
As I mentioned in my March Insights Blog, and before travel bans were implemented for most everyone, we had the pleasure of hosting Mintel’s Director of Innovation & Insight, Lynn Dornblaser, on the Tree Top campus. She shared with our team - “What’s happening in fruit” through the lens of trends and new product innovation in the U.S. and around the globe. Hear Lynn's four trends shaping food & drinks.
At the outset of 2020, the pet food market, like the rest of the U.S. economy, was humming along. According to Mintel, the U.S. has the highest per capita spending on pet food in the world and is the largest market by value. And while both the pet food segment and the overall food market remain bullish, consumer dynamics have shifted due to the COVID-19 pandemic, with disruptions to both work and school for most people. Does this mean consumers will alter their pet food spending habits? Will it change their preferences for clean label, natural ingredients and premium products?
Here’s a look at the overall pet care retail market. Packaged Facts estimates pet care retail sales will total $68.76 billion by 2024. And the company says to get there, retail sales, including pet food will increase at an estimated 4.7% combined annual growth rate.