Pet Food - US - August 2010
The American Pet Products Association (APPA) estimates that U.S. pet owners spend $48 billion annually on their companion animals. The largest percentage of this spending can be attributed to pet food. In addition to the large volume of sales, pet food companies are attracted to the category because it is considered to be somewhat recession-proof. This has proven to be the case in recent years as spending has actually increased from $41.2 billion in 2007, which is the generally accepted time that economists say the latest recession began in earnest.
Unlike the food industry operating for human consumption, the pet food industry, which is now approaching $18 billion according to Mintel, is unique in that it must connect with a target audience that is not the end user of their products. This report focuses on these dynamic factors and offers in-depth analysis of the following:
- Sales performance of pet food by segment and retail channel (including the small but dynamic natural products channel), as well as the forecast for the market through 2015
- The impact of private label/store brands, which grew faster than all other manufacturers in FDMx in the last year
- The factors that drive the market, from rising pet ownership and the presence of children, to the influence of Hispanics on the market
- The latest consumer data, segmented by key demographic measures, that indicate consumer pet care preferences in the home, as well purchase behavior
- The important attributes pet owners are looking for in food and how manufacturers are addressing them
- The effectiveness of recent advertising and emerging social media trends that are shaping the pet food industry.
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