Procter & Gamble (P&G) is not expected to exit the pet supplies sector in 2014, according to Damian Shore, analyst at market research institute Euromonitor International.
Notwithstanding the negative sales trend in 2013, when the company had to instigate product recalls in the US for its brands Natura (in the first quarter) and Iams and Eukanuba (in the summer), the company achieved annual growth rates of 2% between 2008 and 2013, according to Euromonitor. This was more than in the home care field and no worse than in the beauty and personal care segment.
In the US, according to Shore, P&G remains a strong premium brand with a market share of 19% in 2012. It needs to gain ground in emerging markets such as Latin America and eastern Europe.
Committees discussed key proposals such as a possible shift in the oversight of animal feeds
The mid-year meeting addressed several regulatory matters affecting petfoods
It gives more direct control to CVM in establishing and maintaining ingredient definitions
There's a disconnect between consumers' confidence in petfoods and their knowledge of what makes the foods nutritious
Now is the time for packagers, producers, marketers and manufacturers to capitalize on the traveling with pets trend
While petfood shoppers continue to show strong brand loyalty, pet products have not been immune to the store brand swing
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