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Last October, I was invited to be the keynote speaker at the 2016 Kemin Symposium in New Orleans, Louisiana, USA. During my attendance, I was able to listen to several other talks and discussions, and one in particular has remained at the forefront of my mind as I continue to see and report on the diversification of pet food trends. “Innovation – Breaking the Me Too Mold,” given by Dr. George Collings and Sarah Hubler of Collings Nutrition Solutions, focused on the reasons why innovation should play a key part in any business growth strategy.
The pet food industry is becoming more nuanced by the day. No longer is it enough to have “natural” or even “organic” formulations; consumers now very nearly take those labels for granted. They want to see formulas on the shelf that speak to their individual pet: limited ingredient diets, allergy or age or lifestyle formulations, raw or bio-appropriate or ancestral, weight control or kidney function or veterinary foods, or any of these in a multitude of combinations. With the specialty pet food market becoming saturated with options, how can a business possibly succeed?
One of the tasks in any business, according to Collings and Hubler, is to grow new markets, and that is where the greatest opportunities for innovation lie. Innovation can do many things for a company, both externally and internally. Externally, it can drive growth, protect brand relevancy, improve or expand products, and solve client needs — all key items a pet food company should be focusing on in an ever-changing industry. But equally important, it can empower employees and help a company learn from mistakes and develop knowledge, all vital components to a thriving company.
Innovation should be business as usual for any pet food company looking to make or increase their name in today’s market. The dedication to providing consumers with what they want, even if it means getting a bigger drawing board, will continue to play a significant role in fulfilling current trends and consistently bringing pet owners back to your product.