The beauty of virtual conferences like the upcoming PetFood Forum Connect is that you can attend every session you want, take notes sitting at a desk, and even re-watch something if you want without leaving the comfort of home or taking off your bunny slippers (not that I have bunny slippers.) You don’t have to decide between a trend session and a scientific one or product development and regulatory. You can watch them all live or recorded. It’s a smorgasbord of information, and you get to sample anything and everything you want. READ MORE
As you’d expect in this year like no other in our collective memory, sales in pet foods have been erratic. The year started off on a positive note with year-over-year sales steadily beating 2019 numbers through Feb., according to IRI data. Then March hit and a two-week period of panic buying set in or some serious stocking up took place. And with that, sales spiked about $100 million above previous levels. After that, pet food sales sank below historic market expectations as...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
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.