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.
The mid-year meeting addressed several regulatory matters affecting petfoods
The intent was to educate regulators and industry about the Model Pet Food Regulations
Committees discussed key proposals such as a possible shift in the oversight of animal feeds
Read more of Dr. Mukund Parthasarathy's insights on the changing petfood retail market and how it affects petfood manufacturers large and small
While petfood shoppers continue to show strong brand loyalty, pet products have not been immune to the store brand swing
Now is the time for packagers, producers, marketers and manufacturers to capitalize on the traveling with pets trend
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