State of the Pet Food Industry State of the Pet Food Industry

08 Mar , 2017

As pet owners, we’re always going to want the best for our pooches and fur balls. Naturally, this means we’ll go to great measures to ensure they’re always pampered, well-groomed and fed on a pet food diet as nutritious and as rich as their shiny coats. We love our fur babies, even if they’re a bit expensive. And they are.

The Low Down on the Pet Food Industry

To no one’s surprise, the pet care business is a booming and increasingly profitable industry. In fact, according to the American Pet Products Association (APPA), pet owners spent $60.28 billion dollars in 2015 on pet related costs, with $23.05 billion of that being spent on pet food alone. Moreover, the APPA estimates that consumers spent an additional $2.75 billion in 2016; rising costs to a whopping $62.75 billion.

Sources like Pet Business have attributed a great deal of the upsurge to the increase of pet owners treating their companions more like cherished family members. Additionally, they suggest that “manufacturers have also played a key role by making pet ownership easier and more fun for consumers.”

So, What’s the Issue?

Although the current state of the pet food industry encourages innovation, PetMio Chief Science Officer Kasra Farsad says the pet food industry is a challenging environment. He says that even though there’s greater pressure on manufacturers to use high-quality ingredients and first-rate recipes, the market struggles to address consumer’s demands because of associated production costs.

“This has created a divide where the majority of pet food purchased is mediocre at best, the premium foods offered being only slightly better (to stay economical), and then a large gap where the niche, truly premium products are offered with little ability to market themselves, get on store shelves, and gain a following,” says Farsad.

PetMio Chief Veterinarian Dr. Arlianne Velez further explains the problem. Unlike foods for humans, pet foods and supplements are not as regulated, and governing laws vary by each state. For example, pet owners rely on the FDA to ensure that ingredients in their pet’s foods are safe for them to eat.

However, some meats and grains are not required to be vetted and approved before being sold on the pet food market. Additionally, the FDA generally recognizes ingredients labeled as minerals, preservatives, vitamins and processing aids as safe, without the need for further testing. Although not always the case, this means that at times harmful ingredients may bypass the scrutiny of regulators.

Plan of Action

Fortunately, not only are Farsad and Dr. Velez able to pinpoint the problem, but they also offer a solution. The key to combating the issue would involve extensive research to better understand and fulfill pet’s unique needs. This would include studies of the nutritional requirements of each animal breed. Such research would have to span the different life stages and environmental factors of every breed.

Farsad adds that currently there isn’t an all-encompassing organization facilitating said research. As such, the burden would fall on companies in the private sector to conduct research of this nature.

The company would also have to go above and beyond the base regulation rules. Every ingredient tailored for each dog or cat should be scrutinized for high quality. 

The New Kids on the Block

PetMio has happily to taken up the challenge. The team says initially PetMio wasn’t focused on doing research for the entire pet care industry. However, after surveying its current state, they agreed that improvements had to made. Enter: PetMio’s unique SMART technology.

The unrivaled wearable technology efficiently will capture your four-legged friend’s valuable data in real time. What’s more? Farsad says this information will create “the most comprehensive database available concerning your pet’s nutritional needs.”

In short, the database will be a best-of-both-worlds solution. The pet industry can learn from a database full of information that will advance the industry as a whole. More importantly, our four-legged friends will benefit from care specially customized for them by PetMio.

Pedro Moras, PetMio Chief Executive Officer closes by putting it quit simply. He says: “As humans, we all have distinctive tastes and needs, so why would we view our pets any differently?”

 

The post State of the Pet Food Industry appeared first on PetMio Blog.

As pet owners, we’re always going to want the best for our pooches and fur balls. Naturally, this means we’ll go to great measures to ensure they’re always pampered, well-groomed and fed on a pet food diet as nutritious and as rich as their shiny coats. We love our fur babies, even if they’re a bit expensive. And they are.

The Low Down on the Pet Food Industry

To no one’s surprise, the pet care business is a booming and increasingly profitable industry. In fact, according to the American Pet Products Association (APPA), pet owners spent $60.28 billion dollars in 2015 on pet related costs, with $23.05 billion of that being spent on pet food alone. Moreover, the APPA estimates that consumers spent an additional $2.75 billion in 2016; rising costs to a whopping $62.75 billion.

Sources like Pet Business have attributed a great deal of the upsurge to the increase of pet owners treating their companions more like cherished family members. Additionally, they suggest that “manufacturers have also played a key role by making pet ownership easier and more fun for consumers.”

So, What’s the Issue?

Although the current state of the pet food industry encourages innovation, PetMio Chief Science Officer Kasra Farsad says the pet food industry is a challenging environment. He says that even though there’s greater pressure on manufacturers to use high-quality ingredients and first-rate recipes, the market struggles to address consumer’s demands because of associated production costs.

“This has created a divide where the majority of pet food purchased is mediocre at best, the premium foods offered being only slightly better (to stay economical), and then a large gap where the niche, truly premium products are offered with little ability to market themselves, get on store shelves, and gain a following,” says Farsad.

PetMio Chief Veterinarian Dr. Arlianne Velez further explains the problem. Unlike foods for humans, pet foods and supplements are not as regulated, and governing laws vary by each state. For example, pet owners rely on the FDA to ensure that ingredients in their pet’s foods are safe for them to eat.

However, some meats and grains are not required to be vetted and approved before being sold on the pet food market. Additionally, the FDA generally recognizes ingredients labeled as minerals, preservatives, vitamins and processing aids as safe, without the need for further testing. Although not always the case, this means that at times harmful ingredients may bypass the scrutiny of regulators.

Plan of Action

Fortunately, not only are Farsad and Dr. Velez able to pinpoint the problem, but they also offer a solution. The key to combating the issue would involve extensive research to better understand and fulfill pet’s unique needs. This would include studies of the nutritional requirements of each animal breed. Such research would have to span the different life stages and environmental factors of every breed.

Farsad adds that currently there isn’t an all-encompassing organization facilitating said research. As such, the burden would fall on companies in the private sector to conduct research of this nature.

The company would also have to go above and beyond the base regulation rules. Every ingredient tailored for each dog or cat should be scrutinized for high quality. 

The New Kids on the Block

PetMio has happily to taken up the challenge. The team says initially PetMio wasn’t focused on doing research for the entire pet care industry. However, after surveying its current state, they agreed that improvements had to made. Enter: PetMio’s unique SMART technology.

The unrivaled wearable technology efficiently will capture your four-legged friend’s valuable data in real time. What’s more? Farsad says this information will create “the most comprehensive database available concerning your pet’s nutritional needs.”

In short, the database will be a best-of-both-worlds solution. The pet industry can learn from a database full of information that will advance the industry as a whole. More importantly, our four-legged friends will benefit from care specially customized for them by PetMio.

Pedro Moras, PetMio Chief Executive Officer closes by putting it quit simply. He says: “As humans, we all have distinctive tastes and needs, so why would we view our pets any differently?”

 

The post State of the Pet Food Industry appeared first on PetMio Blog.