Pet Food Industries Prosper from Pet Humanization
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Executive Summary
Pet food industry acts as one of the most lucrative businesses in the current world due to the rising demand for pets as alternative companions for humans. Specifically, humanization of pets tends to take top stage as more people adopt pets. Conversely, Blue Buffalo is a pet food company that strive to generate high-quality products by utilizing fine quality natural ingredients and raw materials. The company (Blue Buffalo) specializes in the manufacture of food for dogs and cats to ensure that its clients realize their desired products. Thus, Blue Buffalo thrives and looks forward to a bright future following the growing pet food market share in the US.
PET FOOD INDUSTRIES PROSPER FROM PET HUMANIZATION
Firms that manufacture and sell pet food have realized substantial financial gains and profits by focusing on generation of high-quality products. A rising global concern on health and hygiene of pets facilitates manufacture and sale of pet food of high nutritional value. Fortunately, the involved firms realize huge profits by selling the high-quality products at relatively good prices. As such, the world’s leading pet food firm (Mars Petcare Inc.) earns revenue of over $18 trillion per annum. Moreover, firms that offer the best quality pet food would attract the highest number of customers whose aim is to ensure that their pets remain healthy. Such types of clients tend to be less sensitive to prices but rather quality of the pet food. Hence, they are ready and willing to invest heavily in acquiring quality pet food to promote good health and hygiene among their pets. Consequently, the customers would realize their goal of gaining suitable companions by ensuring that their pets remain healthy and active.
THE WORLD’S TOP 10 PET FOOD COMPANIES
Company Country Annual Revenue
Mars Petcare Inc.United States $18,085,000,000
Nestlé Purina PetCareUnited States $13,200,000,000
J.M. SmuckerUnited States $2,900,000,000
Hill’s Pet NutritionUnited States $2,318,000,000
Diamond Pet FoodsUnited States $1,500,000,000
General Mills (Blue Buffalo)United States $1,300,000,000
Spectrum Brands / United Pet GroupUnited States $820,500,000
Unicharm Corp.Japan $752,650,000
DeuererGermany $721,100,000
Heristo AGGermany $700,000,000
(Petfoodindustry.com, n.d.)
US Pet Food Companies Thrive by Generating Highly-Nutritious Products
Blue Buffalo is one of the leading companies in the manufacture and provision of high-quality pet foods. The organization (Blue Buffalo) attains its goal and objectives by working under the slogan “Love them like family. Feed them like family.” The organization is inspired to provide pet foods of high-nutritional value and quality to ensure that its clients attain ideal food for their pets. Specifically, Blue Buffalo offers several varieties and brands of pet food to suit the demands and needs of dogs and cats of varied dietary needs, ages and breeds. Moreover, Blue Buffalo relies on some of the finest natural ingredients and raw materials to manufacture quality pet food. Besides, the organization depends on minerals and vitamins to enhance quality of and value of their products.
Specialization in the Manufacture of Pet Foods
Blue Buffalo specializes in generation of food for dogs and cats only to ensure that it allocates adequate time, efforts and resources to their processes to realize their target of offering fine quality products. Moreover, the organization strives to develop and improve its products according to market trends and emerging demands. Thus, Blue Buffalo generates new brands almost always. For instance, Crunch the wild, Blue Sizzlers and Blue Divine Delights are among the company’s latest brands.
Focus on Functional Foods
Blue Buffalo is one of the pet food companies that generate functional foods to ensure that pets realize maximum benefits after consuming them. Functional foods contain lots of valuable components that encourage wellbeing of pets. For instance, Blue Buffalo incorporates probiotic microorganisms in their products to facilitate useful physiological processes that entail digestion and absorption of nutrients (Boileau, Stojanovic & Sunvold, 2006). Moreover, functional pet foods helps in reducing the risk of diseases and improving brain functions, thus ensuring that pets remain reliable companions to humans (Di Cerbo et al., 2017).
A Promising Future for Pet Food Companies
The relatively large pet food market in the US would probably continue to grow with time following the rising demand for healthy pets. Accordingly, Blue Buffalo’s market share and revenue would grow.
Projected US Pet Food Market Size and Blue Buffalo’s Revenues
2017 2018E 2019E 2020E 2021E 2022E 2023E 2024E
US Pet Food Market ($M) 31084 32448 33902 35379 36897 38476 40087 41819
Blue Buffalo Revenues ($M) 1275 1431 1594 1371 1856 1985 2084 2151
YOY Growth 10.9% 12.3% 11.4% 8.6% 7.2% 7.0% 5.0% 3.2%
(Duarte, 2019).
Conclusion
The pet food industry serves as one of the most lucrative industries in the world. Specifically, the leading pet food industry enjoys over $18 trillion yearly. Currently, pet food companies are humanizing pet foods to ensure that they offer high-quality products that would encourage wellbeing of pets. Luckily, many customers are ready and willing to invest heavily in purchasing pet food of best quality because they value their pets that serve as appropriate companions in the current era. Accordingly, varied firms including Blue Buffalo are thrive by specializing in the manufacture of quality pet foods for specific types of pets. Such specializations facilitate allocation of sufficient time and resources toward development of pet foods. Besides, pet food firms uses fine ingredients and raw materials to generate functional foods that are highly valued because they attract lots of benefits that include prevention of diseases and better absorption of nutrients by pets. Fortunately, pet food companies have a promising future because the US pet food market continues to grow.
References
Boileau, T., Stojanovic, M., & Sunvold, G. (2006). U.S. Patent Application No. 11/366,234.
Di Cerbo, A., Morales-Medina, J. C., Palmieri, B., Pezzuto, F., Cocco, R., Flores, G., & Iannitti, T. (2017). Functional foods in pet nutrition: Focus on dogs and cats. Research in veterinary science, 112, 161-166.
Petfoodindustry.com. (n.d.) Top Pet Food Companies Current Data. Retrieved From
https://www.petfoodindustry.com/directories/211-top-pet-food-companies-current-data)
Duarte, R. (2019). Blue buffalo-organic pet food (Doctoral dissertation).
