April 13, 2016 - Just how much does the pet food segment mean to the overall U.S. market for pet products and services? According to the Packaged Facts Pet Food in the U.S., 12th Edition, the pet food sector is worth $30 billion with expected annual increases of 3%-5% through 2020. Among the hottest topics involved in this projected pet food market growth is protein-which will be covered by our research director David Sprinkle in an upcoming presentation at the Petfood Innovation Workshop: Meat & Novel Proteins on April 18.
In a previous report focused on functional foods, Packaged Facts revealed that “protein is currently the hottest functional food ingredient trend in the United States.” Of course, the statement was made in reference to human food. But the trend has crossed over to the pet aisle as well. Just as pet owners seek proteins for themselves, they also seek them out for their pets. According to the Packaged Facts February/March 2016 National Pet Owner Survey, 65% of dog owners and 62% of cat owners say their pet needs a high-quality protein diet. And according to the Packaged Facts November/December 2015 National Pet Owner Survey, chicken and other birds are the most common protein ingredient that dog and cat owners use. Dog owners use red meat next, while cat owners use fish.
Mr. Sprinkle will discuss these and other findings from at the workshop. Specifically, the presentation will feature shares data, trends and insights on high-meat and high-protein pet food, including how high meat levels and exotic proteins tie into natural pet food purchasing, the paleo/wilderness trend, culinary crossovers from human food-think flavors and meat cookery terms on labels-and the retail channels in which these pet food products are seeing the most success.
The 2016 Petfood Forum Innovation Workshop will be held at the Kansas City Convention Center. Mr. Sprinkle’s presentation will begin at 8:00 am CDT. In relation to his appearance at the workshop, Mr. Sprinkle will also be featured on Petfood Forum TV.
For more information on Petfood Innovation Workshop: Meat & Novel Proteins visit: https://www.petfoodforumevents.com/ehome/95861/225989/.