Hoping to tap into growing consumer interest in animal supplements, pet retailer PetSmart is working with General Nutrition Centers (GNC) to launch a new line of dietary supplements formulated for dogs and cats. The line will be manufactured by GNC and sold exclusively at PetSmart, starting in fall 2010. Both companies say the move was motivated by consumer requests for high-quality supplement products for their companion animals. “The new pet vitamins represent a true consumer-driven innovation—we saw the need first-hand in our own stores,” said GNC Executive Vice President, Tom Dowd. “With PetSmart’s expertise in pet care and excellent retail capabilities, we knew they were the ideal partner to join us in this venture.”
NBJ Bottom Line
Despite the economic downturn, sales of pet supplements continue to grow. After all, consumers will often scrimp on things for themselves before they cut back for their kids or pets, particularly when it comes to health-related products. In 2008, animal supplements accounted for half of U.S. natural animal nutrition sales and grew 7.4% to $1.4 billion, according to Nutrition Business Journal research. This put sales of pet supplements ahead of children’s supplement sales in 2008.
The growth animal supplements experienced in 2008 is impressive because of the constrained consumer-spending environment that existed then and is still present now, but also because of the rocky regulatory road that animal supplement companies must travel in their quest to bring and keep products on the market, as NBJ explored in our 2009 U.S. Animal Nutrition Industry Overview issue.
PetSmart’s new supplement line is poised to sell well. After veterinarians, specialty pet stores such as PetSmart and Petco are the second-largest sales channel for pet supplements, according to NBJ data.
Subscribers can access NBJ’s latest animal nutrition market data and others can subscribe to the journal via the NBJ website.
Related NBJ links:
August 2009: U.S. Animal Nutrition Industry Overview
The ‘Humanization’ of Pets Is Driving Product Trends for Animal Nutrition Market
Joint, Omega-3 and Other Supplements Prove Popular for Bowser and Fluffy
Related Natural Foods Merchandiser link: