Agribusiness, Agriculture, Veterinary Medicine, Cassava, Garri, food security, Agritech and the Red Meat Value Chain.
Showing posts with label global market. Show all posts
Showing posts with label global market. Show all posts
Tuesday, July 12, 2016
Millennials spend big on premium food for their pets.
Millennials are increasing the numbers of pet owners and they’re feeding their pets as they feed themselves: free range, organic, and gluten-free. Millennials are young successful busy career focused individuals that are busy closing deals, they spare no expense on their pets as they consider these furry cuties as babies. They believe only the very best is fit for their pets in terms of pet care,food and healthcare.
Millennials are driven to look for their personal values in the products they buy for their pets this trend has made pet food companies to focus on so-called “premium” and “super-premium” product lines, , with human-friendly ingredients such as blueberries pumpkin and veggies . Pet food are now labeled organic and natural just to break into the lifestyle of these new generation pet owners who basically believe only the best is good for their pets.
Sales of top range pet food have grown steadily since the massive pet food recalls of 2007, when thousands of cats and dogs died of renal failure after eating packaged pet food containing wheat and rice gluten contaminated with Chinese-sourced melamine, a chemical used to make plastics, cleaning products, glues, and fertilizers.This triggered a high consciousness of product safety among some pet owners, which led them to buy specialty brands rather than the mass-market brands involved in the recalls.
Global market research firm Euro monitor International reports that in 2015, US consumers spent $5.4 billion on natural pet food, amounting to 69 percent of total pet food sales. Human food frequently make their way to prepackaged pet cuisine, and that is happening more these days . A lot of companies known for making food for humans are getting into the gourmet pet food business as well.
Trade publication Pet food Industry,,states that Mars Petcare Inc., a subsidiary of the Virginia candy maker Mars Inc., is the world’s largest pet food company by annual revenue.Millennials are young successful busy career focused individuals that are busy closing deals, they spare no expense on their pets as they consider these furry cuties as babies. They believe only the very best is fit for their pets in terms of pet care,food and healthcare.
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