Home » Online Extra! More from "Is petfood recession-proof?"
Online Extra! More from "Is petfood recession-proof?"
According to Euromonitor International, these are the top 21 petfood trends leading to 2012 - is your company on track for success?
Source:
Euromonitor.
- Products that contain human-grade ingredients,
particularly those that have been certified by statutory
bodies such as the US Department of Agriculture, will become
increasingly popular.
- Producers that can reassure consumers regarding the
origin of their raw materials will benefit.
-
Deepening anthropomorphism will drive the
growth of superpremium products like the PANDEAN
(pasteurized, nutrient dense and all natural) and Ultra
diets.
-
Such niches as organic, fresh and
vegetarian petfood are also likely to expand.
- There will be some potential for premium products in the
metropolises of developing economies, including Moscow and
Beijing.
- Outside of core markets, innovative distribution
strategies remain key to the establishment of a first-mover
advantage. This will be particularly important to volume-led
growth for economy offerings.
- Private label manufacturers will increasingly target the
premium segment, undermining the margins of branded
goods.
- Pet superstores are likely to play an important
facilitating role in this regard by utilizing their brand
equity as retailers to drive private label sales, especially
in the premium segment.
- Economic development has fueled an increase in
consumption.
- An increasing number of consumers are trading up to
value-added products.
- Due to their overdependence on commodity exports, the
medium-term stability of some recent sales gains may be
questionable.
- Accelerating urbanization is bringing suppliers,
retailers and consumers closer together.
- Improving transportation infrastructure and logistical
systems are facilitating distribution.
- Large-format retailers are expanding, bringing packaged
petfood to new regional and local markets.
- There is more foreign investment in local production
facilities.
- Sales remain concentrated among affluent middle class
consumers, with mid-price brands predominant.
- However, premium brands can find lucrative and expanding
markets in large metropolitan areas.
- Meanwhile, generally low consumption levels suggest huge
potential for growth in China and India, particularly in the
economy segment.
- Reduced poverty rates are driving volume growth in the
economy segment, particularly in Latin America.
- Falling unemployment and improved welfare provision have
reduced income inequality.
- Mass advertising and westernization are encouraging the
use of packaged petfood instead of scraps.
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