The August 2016 issue of Petfood Industrycovers the global players in the pet food industry. The U.S. market continues to dominate, but several other regions are taking an increasing share of the market as they become more developed.
At last week's Food Ingredients Europe in Frankfurt, Germany, an annual show described by organizer's as the "global meeting place for all stakeholders in the food ingredients industry," Innova Market Insights introduced its top 10 food and beverage trends for 2014. While not all apply to petfood (and only five of the 10 included descriptions), some might be worth considering for petfood manufacturers and marketers.
For example, the first trend, waste not want not, is all about the current focus on food waste around the world, especially in developed markets. Though we don't often (if ever) hear about petfood being wasted, the fact that human demand for protein, grain and other types of ingredients and food may soon out-strip readily available and affordable supplies affects petfood, too, because our industry is competing for many of these same types of ingredients.
Three of the trends speak directly to petfood, in my opinion:
Rounding out Innova's top 10 are simpler pleasures, "new" superfoods, rise of the hybrids, protein horizon, new stealth strategies and alternative alternatives. The names alone are intriguing enough to warrant further investigation; I'll update this post if I find descriptions.
A similar list of food trends for 2014 specific to the US also came out last week. Created by Phil Lempert, a food marketing expert who bills himself as the Supermarket Guru, this list is based on a survey he did of his website's consumer panel on behalf of ConAgra Foods, he said. Some of the trends that seem to resonate for petfood include:
Watch pet store shelves in 2014 to see if these and other projections come to pass.FacebookGoogle+