Richard Wolford, chief executive of Del Monte Foods, predicted growth in the company's petfood business, according to a report by The Washington Post.

Del Monte recently lowered its sales outlook to 2% - 4%, from 3% - 4%. But despite the economy, the company expects to see the most growth in its pet business, according to Wolford.

"People always feel very special about their pets," said Wolford. "They treat them better than their children; our survey will actually show they are more willing to cut back on their children then they are their pets in a tough time."