NEW YORK, May 26, 2004 -- Nutraceuticals may be the next niche category to restore the health of the pet food market, according to "The U.S. Pet Food Market" a new report by market research publisher Packaged Facts. The number of new pet foods promoting "high vitamin" content grew by 94% in 2003.
While the pet food market recorded overall sales of $13.1 billion in 2003, Packaged Facts reports that that increase represented a mere 3% over 2002. To combat deep discount pricing pressures from value brands and mass market discount chains, many marketers are opting to distinguish their products as having "upscale" benefits. Pet foods packaged as "natural," for example, nearly doubled from 2002 to 2003, with over 350 new products hitting the market.
"Pet food marketers realize they have a problem on their hands - the pet population is growing, yet their revenues are stagnant," said Don Montuori, Acquisitions Editor for Packaged Facts. "Enhancing the quality of their products by playing up the health benefits appears to be winning approach with consumers, particularly those older pet owners who are starting to think about their own changing nutritional needs."
Now in its completely updated fifth edition, "The U.S. Pet Food Market" presents key competitive trends, such as channel-specific product development and marketing, and pinpoints opportunities for current and prospective marketers.
This new report is priced at $3000 and can be purchased directly from Packaged Facts by clicking http://www.packagedfacts.com/pub/950918.html . Chapter-level sections are available. It is also available through MarketResearch.com.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes research reports on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, and demographics.