Pet Owners Splurge on Premium, Fortified Food for Animal Companions
The premiumization trend in the global pet food market indicates that pet owning consumers are as willing to spend more on premium food infused with health fortifying ingredients such as glucosamine, omega fatty acids, antioxidants, and probiotics for their pets as they are for themselves.
Premium pet foods cover all bases — from natural/organic to functional/nutraceutical to special diet (segmented by lifestage, weight, health condition, breed, etc.) to gourmet — while also often reflecting trends in human foods.
Driven by premiumization the global pet food market reached an estimated $49 billion in 2008, according to market research publisher Packaged Facts in the all-new report, “Pet Food in the U.S.: Health, Humanization and High Quality Ingredients in an Increasingly Value-Driven Global Market, 8th Edition.” The 2008 global total marked a compound annual growth rate (CAGR) of almost 5% for the preceding five-year period.
North America accounted for the largest share of global pet food sales in 2008 with 40%. “Particularly in the United States, the premiumization trend goes beyond the tendency Americans have to be better educated about health and nutrition issues. In addition, the pervasive humanization dynamic cannot be underestimated. Pet owners often view their pets as part of the family, or even as surrogate ‘children.’ Thus they are looking for the safest and healthiest products possible,” says Tatjana Meerman, Publisher of Packaged Facts.
“Pet Food in the U.S.: Health, Humanization and High Quality Ingredients in an Increasingly Value-Driven Global Market, 8th Edition” examines the global pet food market (sales overall and by world region, marketer shares, new product trends, U.S. export trends, etc.); strategic directions for current and prospective marketers; high-growth product segments; and trends in pet food purchaser demographics and lifestyle pursuits (media and marketing psychographics, Internet usage, “green” involvement, etc.). The report has separate chapters each discussing food for dogs, cats, and other companion animals. For further information visit: http://www.packagedfacts.com/Pet-Food-1653956/.
Pet Slimmer of the Year
Weight and obesity always seem to be hot topics in the news. Yet it’s not just people that need to watch the pounds, our pet dogs are just as at risk from the health implications of obesity as we are.
A Labrador dog has been crowned pet slimmer of the year in a UK wide competition after shedding 9 and a half kilos! A diet of fatty foods, and too many of them and the extra weight piled on Oscar, the black Labrador.
A one hundred day diet of water and dog biscuits, along with regular exercise and Oscar is now unrecognisable as a slim fit and energetic pet. Well done Oscar!
No matter what breed they are, all dogs enjoy food. Most of them would eat you out of house and home given half a chance but it is important not to indulge your pup too often. Like us humans they need a balanced diet and lots of exercise.