Petfood Industry is conducting a second survey to calculate the Petfood Industry Confidence Index. Petfood Industry readers may complete an online questionnaire, which will take 5 to 7 minutes. The survey will be repeated quarterly. Participants will receive a preview of the results before they are published each quarter.
Participate in the Petfood Industry Confidence Index
“The index is calculated each quarter on the basis of pet food manufacturers’ opinions on current and future expectations of their performance in the markets they serve,” Joyce Neth, vice president and director of audience development and research.
The primary objective is to create a quarterly industry insights and trends report. That report will be an in-depth look into the world of pet food driven by the opinions of the people that do this every day. The report will be an insider perspective to the pet food industry direct from manufacturers. The report will include tracking questions that follow industry changes over time. There will also be topical questions about current events in the pet food industry that quarter.
“The index reflects prevailing business conditions and likely developments for the months ahead,” Neth said. “These insights will give the industry and its suppliers benchmarks for current conditions and indicators of future development and will help Petfood Industry focus on providing relevant content to readers.”
Results from first Petfood Industry Confidence Index
From a previous Petfood Industry article:
For the first report, data was collected from February 5, 2020 through February 29, 2020 from pet food industry executives in a variety of business functions and job roles.
Pet food executives say they feel positive about their business
Overall, pet food industry executives feel quite positive about current business conditions. Close to 50% feel that business conditions are above average, and only 3% of executives feel the present conditions are below average. Executives report optimism around continuing consumer demand within the industry as well as feeling optimistic about new product introductions, ingredients and technologies driving growth and expansion.
They are also extremely positive about the future of business conditions, with almost 60% expecting better business conditions in six months and close to 90% expecting increased opportunities for growth and expansion. Many expect growth in global markets as well as in e-commerce and additional points of distribution.
DCM concerns for dog food
This quarter, executives were also asked about the U.S. Food and Drug Administration (FDA)’s ongoing investigation into canine dilated cardiomyopathy (DCM) and grain-free products. A slight majority — just over 50% — of executives feel that FDA’s public announcement about DCM related to grain-free pet food was not a good strategy. Executives believe it wasn’t based on sufficient research, it was reported too early and FDA should not have named pet food companies or brands.
Executives are divided about how FDA’s announcement affected grain-free pet food sales, with about one-third feeling it decreased sales, one-third undecided and one-third feeling it didn’t decrease sales. A strong majority doesn’t really expect FDA’s announcement to decrease future grain-free sales, with about two-thirds expecting future grain-free sales to remain stable or increase.
