Packaged Facts Pet Market Data To Be Presented at Global Pet Expo

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Feb 25, 2015, 05:37 ET

ROCKVILLE, Md., Feb. 25, 2015 /PRNewswire/ -- According to data to be presented by Packaged Facts in its U.S. Pet Market Trends and Outlook seminar at the Global Pet Expo in Orlando, Florida (March 4-6, 2015), retail channel sales of pet food and pet supplies approached $44 billion in 2014, up 2% over 2013. The pet market's longer-term growth and prospects have continued to attract new players, expanding the range of marketers and retailers vying for a slice of the pie.

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The market for the dog and cat food market nonetheless remains top-heavy, with the top three companies accounting for over two-thirds of U.S. retail sales in mass and pet specialty channels. On a tier of its own is Nestlé Purina, with a 35% share in 2014. Mars added to its heft with its acquisition of P&G's pet brands in 2014, thereby cornering a 21% share. In a transformational move for the company, Smucker is grabbing a 13% share of dog and cat food sales with its acquisition of Big Heart Pet Brands, the former Del Monte pet food business.

Premium pet foods accounted for 42% of pet food sales in 2014, reflecting the ongoing "pets as part of the family" trend. Treats have also grown their share of the overall pet products market, tying in to the robust interest in functional treats as a way to ameliorate pet health conditions and promote overall wellness.

In recent years, three trends have served as the major forces impacting the situation at pet retail: the expansion of the two big-box pet specialty chains, PetSmart and Petco; the growth of mass merchandisers and supercenters, especially Walmart supercenters; and the rise of the Internet. The pet specialty chains lead in the retail arena with a 24% market share, with mass merchandisers as the nearest competitors.

With the end of the Great Recession and its New Normal aftermath of economic sluggishness, pet product retailers have experienced pressures on many fronts. "Consumer are becoming more discriminating about the pet products they buy," according to Packaged Facts publisher David Sprinkle, with label readers seeking out the safest products and most nutritious foods. At the same time, consumers are demanding greater value, with the budget-conscious charting out shopping trips beforehand and switching channels and brands to optimize their pet product spending.

For more information on U.S. Pet Market Trends and Outlook, please visit: http://www.packagedfacts.com/Pet-Outlook-8136111/.

About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services.

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SOURCE Packaged Facts