A new survey report, Future of the Pet Industry 2015, from Pet Product News, shows optimism among retailers is high, with most pet product retailers anticipating healthy sales growth in the next year, with premium pet food expected to be a high-growth area.
One in four stores anticipate sales being more than 10% higher in 2015 than in 2014, and 90% of stores expect sales to be the same as or better than last year.
The survey findings include:
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
Constraints and crises, like those experienced in 2020, help drive innovation and sustainability offers context.