The Pet Food Industry Essay

The Pet Food Industry Essay

Length: 1372 words (3.9 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

State of the Industry
Market Overview
The pet food industry as described by IBIS World is an industry in which "Major players compete on price, quality, ingredients and nutrients" (Pet Food Production in the US: Market Research Report, 2015). In this pure competition industry, there are dominant companies such as Mars, Inc. and Nestlé Purina sharing a 24 billion dollar market (Pet Food Production in the US: Market Research Report, 2015).
Research indicates that “pet food is now one of the fastest growing products in world trade” with “import/export global flow of pet food increased dramatically reaching 2.5, 3.7 and over 5 million tonnes in 1995, 2000, and 2005, respectively” (De Silva & Turchini, 2008). “U.S. sales of pet food in 2013 totaled an estimated $21 billion, up 24% since 2008” (Byron, 2014). Recent
Economic Outlook
The target market will be consumers between the ages of 35 and 64 in the United States. According to the Bureau of Labor Statistics, income after taxes for the target market is an average of $70,181 with an increase in overall “average expenditures per consumer unit in 2014 [at] $53,495, a 4.7-percent increase from 2013 levels” (Consumer Expenditure Survey - Annual Calendar Year Tables - Age of reference person, 2014). These economic trends lead to the possibility of higher rates in pet ownership and a greater ability for consumer households to purchase quality pet food.
Socio-cultural Trends Impact Consumer Preferences and Sales Trends in the Pet Food Industry
With approximately “83% of consumers [households] consider their pets a part of their family” (Byron, 2014). This growing sentiment of “humanization” is creating opportunities for the industry to sell pet food differently. With a “majority of pe...


... middle of paper ...


...ini, 2008). One of the sectors facing the largest impact is the seafood industry. Fish products are prevalent in pet food products as well as human diets. Given such a high demand on the seafood industry,
researchers are suggesting a more “judicious” approach in utilizing “limited biological raw materials” such as fish products (De Silva & Turchini, 2008). The challenges unique to the pet food industry is that, “pet food professionals need not only consider the total amount of protein to target, but also the quality, bioavailability, and ingredient source as well” when designing their formulas (Swanson, Carter, Yount, Aretz, & Buff, 2013). Research also indicates a need to further study the impact of the pet food industry on the fish market so that any prevalent issues are brought to the light, discussed and resolved instead of ignored (De Silva & Turchini, 2008).

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Making Pet Food as Safe and Regulated as Human Procecssed Food Essay

- About this book The evolution of dogs from wolves is a fascinating topic that has been the focus of significant new research and insight. What is clear is that these animals have found their way into the heart of the modern family everywhere – from filling in for the absent single grandchild of Chinese grandparents to the plight of the lonely and stressed western middle class. When dogs were kept for security or sport, they were usually fed table scraps to supplement what they could hunt or scavenge on their own....   [tags: dog food industry]

Better Essays
958 words (2.7 pages)

A Brief Note On The Pet Industry Expenditures Essay

- The following “Total U.S Pet Industry Expenditures” statistics are gathered by American Pet Products Association from various market research sources and are not included in the organization 's bi-annual National Pet Owners Survey. In this statistic,the total U.S pet industry expenditures is nearly increase 28 billions to 53 billions from 2001 to 2012. It is obvious showed more and more Americans are willing to spend money on pets. I think the number of Americans who own pets also influenced this research....   [tags: Dog, Pet, Property, Want]

Better Essays
1401 words (4 pages)

Ultimate Pets: How an Independent Pet Shop Competes with Giant Pet Store Chains

- This essay explains how I intend to open an independent pet store, Ultimate Pets. Although there are already several pet stores in my community which are owned and operated by the giant pet super-store chains, I will position Ultimate Pets in the market so that it can successfully compete with the established pet super-store chains. As a business in the pet industry, an exotic pet shop offers many products that a large corporation would, but differentiates in a way with the wide range of animals it actually carries in stock....   [tags: pet industry analysis, entrepreneur essays]

Better Essays
1589 words (4.5 pages)

Marketing - The Pet Food Market Essay

- 7. Carry out a SWOT analysis for this market with all inclusions referenced to the information source. STRENGTH: The increasing consciousness of people regarding the health of their pets leads to a focus on nutritious food which helps increasing the life span of their beloved animals. This benefits the pet food industry greatly as it leads to increased demand and allows manufacturers to set their prices for selected products at a high level. (PFMA) Increased competition has lead to greater effort for developing new products in order to meet customers demand....   [tags: Business Management Studies]

Better Essays
476 words (1.4 pages)

Billions In Tax Dollars Subsidize The Junk Food Industry Essay

- With the concern over obesity in this country, especially childhood obesity, who except for the beverage industry would not be concerned that our taxpayer dollars are going to subsidize one of the most high empty calorie food items on the market. Over $4 billion taxpayer dollars are used by the government to pay for sugar sweetened beverages (SSBs) this last year for SNAP (Supplemental Nutritional Assistance Program, formerly Food Stamps). SNAP stated goal is to provide nutritional food support for the 47 million low income people it serves....   [tags: Food Stamps, SNAP]

Better Essays
1404 words (4 pages)

Essay on Natural Choice Pets Marketing Plan

- Natural Choice Pets Marketing Plan Natural Choice has performed extensive research to develop and market natural pet products in the United States (U.S.) market. A review of the company strategy along with a SWOT analysis will discuss Natural Choices strengths, weaknesses, opportunities, and threats. Looking at variables of the marketing mix will help Natural Choice Pets determine the best strategy to satisfy customers and distributers in the targeted market. Company Strategy Natural Choice will develop organic pet food and treats for dogs and cats properly pH balanced for optimal pet health....   [tags: Marketing, Pet food]

Better Essays
993 words (2.8 pages)

The Pet Food Market Essay

- 4. Draw a perceptual map for the pet food market as a whole to be included as an appendix of the final report. The perceptual map shows us the spending on advertising of different brands against the average sale price of their products. It can be seen that although some brands have very high advertisement expenses, their products aren?t classified in the super-premium price class. Whiskas products are priced averagely whereas IAMS charges a high price for its products, although it doesn?t promote its image in such a way....   [tags: Business Marketing Studies]

Free Essays
516 words (1.5 pages)

Pet Care Essay

- Pets 101 has identified our target market as school age children, under the age of 18 with the idea that their excitement about pet care and responsibility will persuade their parents to purchase new pets. The typical school age children have parents between the ages of 25-54, which makes up 70% of the major market segment (IBIS, 2014). Pets 101located in Port Orange Florida, has its competitors in a 25 mile radius of Volusia County.Pets101 has four brick and mortar direct competitors (serves the same target market with similar products and services) in a 25 mile radius....   [tags: pets market,petsmart, competition]

Better Essays
1584 words (4.5 pages)

The Pet Bag Travel Kit System Essay

- Summer is well on its way and that means a lot of folks will be heading out on vacation. Some people kennel their pets when they travel, but there is a growing trend of taking your pet with you. More and more hotels are offering accommodations for pets. And the pet supplies industry has come up with some innovative products to help you travel with your pet, even if it 's just a short trip to the doggie park. We 've all seen old Blue the basset hound traveling in the back of an open pick up truck or a canine friend hanging out of the window of a car trying to catch some of the multitude of intriguing sniffs that are whizzing by....   [tags: Hotel, Hotels, Hotel chains, Motel]

Better Essays
1111 words (3.2 pages)

Essay about Tyler Pet Foods

- Tyler Pet Foods I. SUMMARY Tyler Pet Food Inc. is a major distributor of dog food for show-dog kennels in the United States. After some researches and discussions, Tyler Pet Foods (TPF) decided to enter into the household dog food market in the Boston, Massachusetts metropolitan area. TPF hired a consulting firm to help it promote and distribute its product. The programs included situational and competitive analysis, the problems and opportunities of the company, and creative strategies to promote its product....   [tags: Papers]

Better Essays
1071 words (3.1 pages)