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Pet Owners Splurge on Premium, Fortified Food for Animal Companions

The premiumization trend in the global pet food market indicates that pet owning consumers are as willing to spend more on premium food infused with health fortifying ingredients such as glucosamine, omega fatty acids, antioxidants, and probiotics for their pets as they are for themselves.

Premium pet foods cover all bases -- from natural/organic to functional/nutraceutical to special diet (segmented by lifestage, weight, health condition, breed, etc.) to gourmet -- while also often reflecting trends in human foods.

Driven by premiumization the global pet food market reached an estimated $49 billion in 2008, according to market research publisher Packaged Facts in the all-new report, "Pet Food in the U.S.: Health, Humanization and High Quality Ingredients in an Increasingly Value-Driven Global Market, 8th Edition." The 2008 global total marked a compound annual growth rate (CAGR) of almost 5% for the preceding five-year period.

North America accounted for the largest share of global pet food sales in 2008 with 40%. "Particularly in the United States, the premiumization trend goes beyond the tendency Americans have to be better educated about health and nutrition issues. In addition, the pervasive humanization dynamic cannot be underestimated. Pet owners often view their pets as part of the family, or even as surrogate 'children.' Thus they are looking for the safest and healthiest products possible," says Tatjana Meerman, Publisher of Packaged Facts.

"Pet Food in the U.S.: Health, Humanization and High Quality Ingredients in an Increasingly Value-Driven Global Market, 8th Edition" examines the global pet food market (sales overall and by world region, marketer shares, new product trends, U.S. export trends, etc.); strategic directions for current and prospective marketers; high-growth product segments; and trends in pet food purchaser demographics and lifestyle pursuits (media and marketing psychographics, Internet usage, "green" involvement, etc.). The report has separate chapters each discussing food for dogs, cats, and other companion animals. For further information visit: http://www.packagedfacts.com/Pet-Food-1653956/.

About Packaged Facts -- Packaged Facts, a division of Market Research Group, publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, demographics, pet, and financial products. Packaged Facts also offers a full range of custom research services. For more information contact Jenn Tekin at (240) 747-3015 or jtekin@marketresearch.com.