Market Trends and Reports: Page 33

Adventures in Pet Food

Human food, pet food ingredients coming full circle?

Human food and pet food have gone through cycles emphasizing avoidance of certain ingredients, yet the focus now seems more on functional ingredients.

Soybeans and meals are among the pet food ingredients that have been demonized over time.

The prognosis for prescription pet foods

Pet owners continue to shift the channels through which they purchase their pets’ diets.

Veterinary diet purchasing directly through the veterinarian is down, but that doesn’t mean pet owners aren’t spending their money on specialty formulations for their pets.

Market Trends and Reports

Hill’s net sales up 21.5% in Q3 2023, profit at US$201 million

Hill's Pet Nutrition made up 22% of parent company Colgate-Palmolive’s sales in the third quarter of 2023.

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Something to Chew on

Why cats are a growth category for pet food

Rising urbanization is leading to increased cat ownership and, following on, higher cat food sales growth, presenting opportunities for pet food companies.

Higher cat ownership means higher growth rates for cat food and treat sales.

Pet companies in Ukraine, Spain, Poland announce expansions

Suziria Distribution, Affinity Petcare and Piesotto are expanding pet production and business initiatives.

Suziria Distribution has opened a new pet product warehouse in the Kyiv region of Ukraine.

Adventures in Pet Food

Cats, cat food growing in Asia and around the world

Cats now outnumber dogs in several countries in Asia, following a pattern seen in Europe for some time. More cats lead to higher cat food sales growth.

Pet Fair South East Asia showcased many cat food brands and companies, including Kit Cat International of Singapore.

Market Trends and Reports

US pet food spending at US$58.1B in 2022, forecast up for 2023

The APPA forecast that pet expenditures will reach US$143.6 billion this year, with pet food and treats making up US$62.7 billion of the total.

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Market Trends and Reports

Purina PetCare continues leading growth in Q3 2023

Purina PetCare has been a growth leader for Nestle during the past few years.

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Adventures in Pet Food

Finding pet food innovation and opportunities in new places

Announcements about the use of AI in pet food, new research and ongoing investments in pet care startups may point to a more innovative future for the industry.

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Adventures in Pet Food

Will pet food prices in the US keep falling?

U.S. pet food inflation year over year declined again in September 2023, following a pattern of several months and in line with falling human food prices.

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Pet Food Additives/Supplements

Form and function both in for pet food toppers

Pet owners are looking to toppers for myriad reasons, all presenting opportunities for any company looking to expand into the segment.

Pet owners’ more complex approach to preparing their pets’ meals has opened the door for the toppers segment in the pet food space.

Market Trends and Reports

E-commerce to B&M: What you need to know

Beginning in the e-commerce pet space can have a lot of advantages that later translate to results in the physical retail market.

Starting out in ecommerce has its advantages, and can even lead to more solid footing when looking into brick-and-mortar expansion.

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