Market
Introduction:
The
gourmet food lovers are a connoisseur of food. Not just with humans,
but this have been trending in the pet food industry also. The demand
of gourmet pet has risen recently. The difference between human and
gourmet pet food has rapidly been shrinking rapidly.
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Pet
foods are formulated around concerns of human food industry like
organic ingredients, low-carb and free from many things. The whole
idea behind gourmet pet food is to pack the food with nutrition for a
pet’s healthy lifestyle. Pet problems like Itching, scratching,
appetite woes, upset tummies and more, can all be linked to problems
with food. Switching away from highly processed pet food to gourmet
pet food benefits the pet’s health directly.
Consumers
are increasingly indulging their pets with gourmet pet foods, as well
as increasingly sophisticated snacks and treats. Many of these
products are projected to be a clean label, as well as non-GMO and
grain free.
Market
Segmentation:
Gourmet
Pet Food market can be segmented on the basis of nature, forms,
distribution channel and region.
On
the basis of various nature, gourmet pet food market can be segmented
into natural and organic food.
On
the basis of various forms, gourmet pet food market can be segmented
into dry, wet, snacks, and other nutritional food forms.
On
the basis of distribution channel, gourmet pet food market can be
segmented into online retail, pet stores, veterinary clinics and
supermarkets.
On
the basis of region, Gourmet
Pet Food market can be segmented into seven key regions:
North America, Latin America, Eastern Europe, Western Europe, Asia
Pacific excluding Japan, Middle East and Africa and Japan.
Drivers,
Restraints, and Trends:
The
gourmet pet food market is driven by consumers’ increasing concerns
about the well-being of their pets. Also, the consumers are
interested in enhancing the taste palette of their pets. Hence, pet
food industry is focusing on minimally processed, additive
nutritional ingredients and more natural foods.
Increasingly,
pet owners are moving from expectations of “high quality” to
“humanized”. Increasing pet humanization, consumer involvement
and diversification of the pet food market have all created a
landscape with more products in the shelf space and thus, the
manufacturers need to get into the minds of pet owners. A lot of
trends are seen in the market. A lot of emphases is being given on
clean label similar to human foods.
The
idea of gourmet food is vague and unnecessarily expensive for some
consumers. Due to increasing disposable incomes is all setting to
fuel the gourmet pet food market in near future. But for a larger
segment it is still challenging among the consumers. Nowadays,
functional benefits play an important role in in their pet’s health
and they like to be addressed with health benefits and extra
nutrition offerings in their pet’s meal and diet plans.
The
gourmet pet food industry is highly influenced by the trends and
preferences in the human food market. The shift towards healthier
food products and availability of customizations is on a rising trend
among the gourmet pet food industry.
Regional
Outlook:
North-America
leads the global market for gourmet pet food. It was noticed that
around 60 % of houses have pets in U.S which thusly drives the pet
nourishment showcase. Premium pet items are particularly mainstream
in the United States. Premium pet food products are especially
popular in U.S. Despite being a mature market in U.S., the pet food
market is growing with new product activity and the marketers will
continue adding value to the pet food products.
Innovations
in specialty and gourmet recipes, packaging techniques will propel
the growth in larger and relatively mature markets of U.S., Europe
and Japan. The gourmet pet food market is expected to grow relatively
slowly in Asia-Pacific and other regions. The preference of dry
gourmet pet food products, emphasizing on nutritional and functional
value and also the easy availability options are some of the key
growth determinants in developing countries.
Key
Players:
Major
players in the Gourmet Pet Food Market segment are Polar Pups, Bone
Appetite Pet Boutique and Bakery, Lily’s Kitchen, Nestle Purina Pet
Care, Fromm family pet food, Evanger & Merrick Pet Care, The
Honest Kitchen, The J.M. Smucker Company are to name a few.
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