PET FOOD SALES SLOWLY RISING
By Adnews Staff
The 1994 pet food market in the U.S. has increased to $8.1 million, up 2% from last year, according to a study by Package Facts. Overall, the market has risen 18% since 1988, when sales were at $6.9 million. Dog food sales account for $4.7 million, which is up 2.2% from 1993. Packaged Facts foresees annual growth rates of 1.8% to 2% over the next few years, while rates may even hit 2.3% near the end of the decade as more baby boomers begin to own pets. Reflecting trends in the human food market, "better-quality premium, natural, and high-nutrition brands are now common on supermarket and pet store shelves," vice-president and managing director Lynn Christie says in a release. "The market is increasingly moving toward health food for pets." Although the majority of pet food is sold in food stores, sales have decreased there due to the popularity of new pet superstores. Currently, food stores are responsible for 62% of sales, while pet stores hold 14%.