During the past five years, Nielsen data documented how 10 pet food brands have grown in market share, while another nine have declined.
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Freshpet’s overall dog food market share grew from 2.7% five years ago to 5.8%, a 115% growth rate, according to the Nielsen data shared by Billy Cyr, Freshpet CEO, said at the Consumer Analysts Group of New York (CAGNY) conference on Feb. 22 in Boca Raton, Florida, USA. In the fresh pet food segment, the company dominates with a 96% share of the market. Freshpet also had the highest rate of market share change in the U.S. pet food industry.
Dog food brands five-year market share change
Rising
- Freshpet 3.1
- Pedigree 2.7
- Purina Pro Plan 2.4
- Purina ONE 1.8
- Hill’s 1.6
- Purina True Instinct 0.8
- Cesar 0.3
- Royal Canin 0.3
- Purina Moist and Meaty 0.1
- Blue Buffalo 0.1
Falling
- Purina Puppy Chow -0.1
- Merrick -0.2
- Iams -0.6
- Private Label -0.7
- Nature’s Recipe -0.7
- Kibbles ‘N Bits -0.7
- Rachael Ray Nutrish -1.3
- Nutro -1.5
- Beneful -2.0
Definition of market share
Market share is the percentage of total sales or revenue that a company or a brand generates within a specific industry or market. It represents the company's share of the market's total sales or revenue.
For example, if a company sells US$10 million worth of products in a particular market, and the total sales of that market are US$100 million, then the company's market share is 10%.
Market share is an essential metric for companies as it indicates how well they are performing compared to their competitors. A high market share usually implies that the company has a significant presence in the market and is a dominant player. On the other hand, a low market share may indicate that the company needs to improve its strategies to gain more customers and increase its market share.
