Industry Analysis & Industry Trends
The Animal Food Production industry has grown over the past five years, despite fluctuations in the price of animal feed. Rising input costs were largely absorbed by industry operators, passed on to downstream producers or offset by rising global demand for meat. The industry was also bolstered by a steady increase in demand for pet food brought on by an increase in pet ownership. The industry is expected to grow alongside demand for animal feed and pet food over the next five years. Rising disposable income will encourage more Canadians to purchase pets and pet food products. In particular, premium brands will benefit as consumers are better situated financially to pamper their pets.
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Industry Report - Industry Products Chapter
Dog and cat food
Dog and cat food make up the largest segment of the Animal Food Production industry due to the large number of Canadians that own household pets. According to Agriculture and Agri-Food Canada, 38.2% of Canadian households owned a cat in 2011, while 35.0% owned a dog. Within this segment, dog food has always comprised a slightly larger portion of sales revenue (57.0% to cat food's 38.6%), according to Euromonitor International, because dogs consume greater quantities of food than cats. Pet food related spending is expected to continue to increase in the coming years as growing disposable incomes allow Canadians to buy more products for their pets... purchase to read more