The Pet Food Industry in US
The presentation discusses the evolution, growth and future scope of the Pet food industry in US. Value of Industry The US Pet Food Industry is currently valued at $14 billion and projected to reach $17 billion by 2008, showing a compounded annual growth rate of 3. 7% from 2004. History of Pet food The emergence of dog biscuits, kibble and canned horsemeat as basic categories of commercial pet food paved the way for a major new dry formula called dog meal.
Market Share for Pet Food Industry A concentrated market with only 7 companies having as much as 86% share. Nestle is the leader with 30% market share. Types of Pet Food Dry food, Semi-moist food and canned food are the three main categories of pet food. Market Segmentation by Value Dry dog food and Moist cat food are the most popular categories ORGANIC, NATURAL AND FUNCTIONAL FOODS Health/nutrition, taste, and food safety are the primary reasons, for purchasing organic foods.
CONSUMER TRENDS Changing demographics, higher disposable incomes, changing lifestyle trends and a change in attitude towards pets. CONCLUSION The demand for pets will increase due to the growing number of childless couples, singles living alone, and the baby boomers now becoming “empty nesters,” Accordingly, the demand for pet food will also increase which will become a source of nutrition, taste, and happiness ?