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Title: Global Pet Food Industry Outlook
Published: May 2007
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The following is the abstract from the full report:
Of the 12 broad factors covered in Packaged Facts/WATT Publishing’s Global Pet Food Industry Survey, New Product Trends tops the list, with over two-thirds (67%) of survey respondents considering this trend “very important” to the pet food industry during the next five years. The most important new product trends are functional/condition-specific/novel ingredient types of foods (e.g., life-stage, weight-loss, breed-specific, therapeutic) and high-growth segments such as treats, followed by hyper-premium products and human-grade ingredients. The other factor viewed by more than 60% of respondents as “very important” is Cultural Shifts, at 61%, for which the most important trends are the human-pet relationship (i.e., the “humanization” trend) and the ability of consumers to afford pets and pet care.
Based on an exclusive in-depth survey of hundreds of pet industry executives from around the world, this report examines the direction the global pet food market will take through 2011, both from an overall perspective and based on four respondent classifications: company type, job role, region, and level of country development.
Packaged Facts/Petfood Industry’s Global Pet Food Industry Outlook is based on the responses of nearly 500 readers of Petfood Industry magazine. The survey, an online questionnaire distributed by Petfood Industry in December 2006/January 2007, addressed future trends in the global pet food industry as well as the current state of development in individual national markets. A statistical overview of survey respondents follows:
The survey results are qualified via follow-up interviews with market participants, global new product trend data from Datamonitor’s Productscan Online service, consumer trend data from sources including Simmons Market Research Bureau, related reports from within Packaged Facts collection of more than a dozen pet market reports, and extensive secondary research derived from industry associations and other trade sources.
Packaged Facts’ Pet Products and Services Collection
Packaged Facts is the leading source of market intelligence for pet products and services. No other market research publisher offers the breadth and depth of coverage in this lucrative, fast-growing industry. Other titles include Pet Food in the U.S., Oral Care Products for Pets, Pet Products in Nontraditional Outlets, The U.S. Pet Insurance Market, Market Trends: Pet Supplements and Nutraceuticals, Market Trends: Natural, Organic and Eco-Friendly Pet Products, and Pet Care Services in the U.S.
About Petfood Industry Magazine
Petfood Industry (www.petfoodindustry.com, www.petfoodindustry-digital.com) is the leading global information source for professionals responsible for developing, processing, marketing and packaging petfood products. It is published by Watt Publishing Co.—delivering business information to decision makers in the U.S. and global petfood, woodworking and food-producing animal industries since 1917.
About the Author
David Lummis is the senior pet market analyst for Packaged Facts and the author of “Market Outlook,” a monthly column for Pet Product News. He has written more than 20 pet market research reports and has been quoted in leading publications about the pet industry.