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.
Following food trends in the pet food segment is very much like following them on the human food side of the business. Overarching trends such as health & wellness, convenience, CBD, and clean labels are found across both segments. Clean label goes beyond label scrutiny and now embodies sustainability, ethical, safe food production, and transparent business practices. Let’s face it...READ MORE
“Leveraging science into Product Innovation” was the theme of the Petfood R&D Showcase last month in Manhattan, (the Little Apple) Kansas. Pet food professionals gathered at K-State for hands-on product development activities – one of which I led, featuring Tree Top fruit ingredients. In the session, attendees were given a briefing on some of the latest science around pets’ age-related health issues and oxidative stress. READ MORE