CEO DATELINE — Pet groups ride spending wave
CEO DATELINE — Pet groups ride spending wave
- March 4, 2020 |
- WILLIAM EHART
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Americans are spending more than ever on Spike, Fluffy and Tweety Bird, with sales of pet products and services nearing $100 billion for the first time last year, according to the American Pet Products Association.
But pet owners need better guidance on how to read pet food labels, says the Pet Food Institute, which recently launched an animated video for the purpose.
APPA released the figures at its Global Pet Expo late last month. The biggest categories of pet spending were food and treats at nearly $37 billion, followed by veterinary care and products at about $29 billion. The association forecasts 2020 sales of $99 billion, driven in part by an anticipated 4% growth in food and treats.
"Consumers are more educated than ever about the ingredients that go into their pets' food, which means they're willing to pay more for quality products," said APPA CEO Steve King. "As the demand for natural, minimally-processed ingredients continues, we expect to see steady growth in this category."
The "What's in a Pet Food Label" video from PFI zooms along the label of a bag of food, explaining components, such as the nutritional adequacy statement, guaranteed analysis and the ingredient list, the association said in a statement.
"PFI is committed to long and healthy lives for pets and sharing resources about pet food nutrition," said PFI CEO Dana Brooks. "Pet lovers want to know they are making the right choice when selecting food for their dog or cat, and with this video, they have the facts ready at their fingertips."
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