The well-being goes to the dogs.
Consumer demand for natural ingredients and clean food labels is spilling over into the pet market. Pet food sales are on the rise as owners buy refrigerated meals prepared without preservatives and loaded with whole foods like quinoa, broccoli, avocado, and other superfoods suitable for humans.
So dog food no longer means canned meat byproducts with unappetizing ingredients.
Premium Purina pet food, owned by Nestlé, drives revenue for the company’s packaged products category, and General Mills, which purchased premium pet food brand Blue Buffalo in 2018 , said in December that its sales of pet food had helped it balance slow sales of snacks and yogurt. last quarter, reported the Wall Street Journal.
And Nestlé bought a controlling stake in Tails.com, a UK-based subscription dog food service that tailors personalized meals to a pet’s dietary needs. The website asks owners about their pet’s favorite foods with prompts such as, “Do they prefer chicken or fish? Grain or not grain? And an algorithm will create a custom recipe mix of fiber, protein, and fat.
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The pet food market in the United States was worth around $ 24.6 billion in 2016 and is expected to grow by more than five billion to reach around $ 30 billion by 2022, according to the market research firm. Statista.com. Refrigerated pet food sales, meanwhile, only make up a small portion of the industry’s overall retail store sales at $ 323 million last year, according to research firm IRI. as reported by the New York Post.
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Certainly, pet owners between the ages of 18 and 34 model their pet food purchases based on their dietary preferences by opting for organic and natural ingredients. About 34% of millennials opt for all-natural pet foods and 21% prefer organic, according to market research firm Mintel, as reported by marketing agency Impact Group. In addition, up to 44% of pet food and products in North America did not contain any additives, according to the report.
Take Jinx Inc., a dog food start-up founded by alumni of Casper, the mattress brand, which brings a direct-to-consumer approach to healthy dog food without artificial ingredients or fillers containing organic ingredients like fruits, vegetables and chicken. The company has raised $ 5.6 million in funding from investors such as Reddit co-founder Alexis Ohanian and Will Smith, TechCrunch reported.
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Pet Plate, a New York-based delivery service that bills itself as “made with real ingredients in human-grade cuisine,” claims “no processed meats or by-products” for its varieties like “Lip Lickin ‘Lamb. “And” “Bark beef. The company has raised $ 6 million, the New York Post reported, and it costs around $ 10 a pound for food.
ANIMAL LOVERS COULD FUCK ON THIS INVESTMENT OPPORTUNITY
A number of restaurants and food chains have also increased their pet food offerings. Vegan chain By Chloe offers sugar-free bone-shaped dog treats and Pupcakes (Munchkins-shaped cakes) made with apple cider vinegar and unsweetened applesauce. And Shake Shack offers a “Woof” menu for dogs like its Bag o ‘Bones which includes a bag of five ShackBurger dog cookies.
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