Trade association PMMI released its Pet Food Market Assessment 2013, which found the petfood market is driven by many of the same factors as the human food market, including intense competition, growth in specialty products such as premium and functional petfoods, and demands of the Food Safety Modernization Act.
Five petfood manufacturers produce more than 70 percent of the petfood products currently sold in the US, the report found. More than 85 percent of the petfood sold in the US is manufactured in the US, as well, which the report attributes to perceptions of quality, transportation costs and a highly saturated marketplace.
The US makes up 38 percent of the global market for petfood, accounting for US$19.85 billion of the US$56 billion global market in 2011, a projected US$20.54 billion in 2012 and US$26.6 billion by 2015. However, double-digit growth is expected in the Latin American and Asian petfood markets. “Brazil stands out as the fastest-growing market for petfood. India and China are growing at double digits, too, but by 2016, we expect to see Brazil as the world’s second-largest petfood market,” said Jorge Izquierdo, vice president, market development, PMMI.
Much of the petfood market's growth has been in organic, natural and premium petfoods, which have all grown at nearly 20 percent per year for the past two years. Global demand in this market will account for nearly 32 percent of the petfood market in 2013, the report projects. On the other hand, some products outside the premium petfood category have grown very little, such as wet dog food, which is projected to grow less than 1 percent in 2013.
The lowly pea appears to be an effective ingredient for the next generation of dog and cat diets
5 small steps would streamline information on petfood ingredients to help communicate with pet owners
What is this quiet, unassuming ingredient, and should it be there?
US trade data show petfood faring relatively
Learn about more companies and how they are lending a helping paw and claw to their own cause campaigns
For more about sustainability in petfood, watch Jan Hoijtink's Petfood Forum 2010 PowerPoint, "Corporate social responsibility: from whim to a matter of strategy."
The mid-year meeting addressed several regulatory matters affecting petfoods
Public meetings invited comments and provided updates
It gives more direct control to CVM in establishing and maintaining ingredient definitions
Now is the time for packagers, producers, marketers and manufacturers to capitalize on the traveling with pets trend
There's a disconnect between consumers' confidence in petfoods and their knowledge of what makes the foods nutritious
Read more of Dr. Mukund Parthasarathy's insights on the changing petfood retail market and how it affects petfood manufacturers large and small
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.