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Gourmet Pet Food Market Grows
According to a report in the US, Americans' love for gourmet and upmarket foods is being passed onto their beloved pets. Sales of organic, healthy and weight-conscious foods topped the $14.5 billion in 2005. According to pet food manufacturers, converting pets and their owners to higher-priced, gourmet and more expensive foods is set to become a big niche market place, growing tp $19.5 billion by 2010.
The gourmet pet food market is set to receive more innovations like single-serve meals, resealable meals, healthier options and more to satisfy the growing market. Marketers are cashing in with manufacturers spending up to $275 milion advertising on pet foods. In the US, during the first 6 months of 2006, 175 new pet food products were launched ( dog and cat) - including extensions of existing lines; more than the whole of 2005. The driver and motivator is to grow an ever closer connection between pets and owners.
"The push is really on to feed pets human quality food that meets the same stringent taste, nutritional, and portion size demands that consumers are experiencing with their own food," said Don Montuori, the publisher of Packaged Facts who published the report. "We expect this market to continue to grow at a healthy pace based on the overwhelming consumer acceptance of higher quality and higher priced pet foods."
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Pet Health Insurance, September 2006
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