Pet Food Manufacturing Industry Outlook
Over the past few years, the pet food manufacturing industry has been performing well despite the economic downturn. Increasing pet humanization and growing tendency of millennials to treat pets as members of the family are propelling the demand for premium pet foods. In addition, convenience benefits related with dry, organic, and natural pet food are expected to greatly fuel the growth of the pet food manufacturing industry over the coming years. To succeed in the long-run, pet food brands will need to keep up with the market innovations and the latest trends to fulfill more conscious consumer demands.
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Business Challenge
Our client, a pet food manufacturer based out of San Francisco, witnessed stagnant growth for two consecutive years. Also, they were losing out their market share to competitors. To cover up for the losses, the company collaborated with Infiniti Research to expand its pet food products range into Europe over the next two years, intending to become a market leader in countries such as the UK and Spain. The company wanted to get an in-depth understanding of market trends and cost structure in Europe. Also, the pet food manufacturing firm wanted to track innovations and identify technology areas that provide the best commercial opportunity. Additionally, the pet food manufacturing industry client wanted to identify trends in terms of product innovation, competitor product features, new operations, and delivery models.
Performing a market assessment is crucial for companies to prioritize growth initiatives. Contact us to know how our experts can help you to identify growth strategies and keep pace with market demands.
Our Integrated Approach
As the client was looking for a range of skills across research, analysis, and consulting, we recommended them market assessment solution. Our team of market analysts assessed the overall performance of the client’s for the past five years and conducted company profiling to identify areas that need improvement. Additionally, a detailed assessment of the latest market trends in Europe such as clean labels, proactive ingredients, and new protein sources was conducted.
The experts also provided the company with independent validation and assessment of key players in the European pet food manufacturing market and a list of cost-effective technologies leveraged by them. Additionally, the experts provided “ability to win” recommendations for top-rated profitable opportunity areas.
Results Obtained
By leveraging our market assessment engagement, the pet food manufacturing market client was able to create a road map for expansion in the European region and achieve savings of over €10 million in the first six months.
By understanding market trends, they were able to focus on developing pet food products with clean label and full transparency. This helped them acquire new customers and build a brand image in the European market. Also, by understanding European customers demand for functional pet food ingredients, they were able to focus on them and increase sales. Additionally, by centring more into new trends such as protein sources and ingredients, the client gained a leading edge in the European pet food manufacturing market.
Additionally, the pet food manufacturing industry client was able to identify trends in terms of product innovation, competitor product features, new operations, and delivery models and enhance overall business efficiency. Within three years of entering the European market, the client was able to establish themselves as one of the top 10 pet food manufacturing companies in Europe.
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