Future of pet supplements: What's coming next?
This article will outline five trends of pet supplements that you can expect to see in the near future. A focus will be placed on changes in the marketplace, customer expectations, and marketing activities.
First, more and more products will be pushed through unique channels to leverage positioning of products to customers. For example, veterinary exclusive products will gain traction, fueled by empirical research and clinical trials. This will augment the positioning of pet supplements for the sake of increased credibility with buyers of pet meds. Note that this puts veterinarians in an educational position, both as suppliers to buyers as well as consumers (i.e. wholesalers) to stay on top of market changes.
Second, it is very likely that pet supplement companies will face increased scrutiny from the government through the FDA’s Center for Veterinary Medicine. The government will push harder to separate pet drugs from pet foods. Currently, this is cloudy. Overall, this will drive higher levels of product quality. In the short run, it might also cause some confusion in the marketplace.
Third, more human products will become pet products. Humans brands will become pet brands. For example, it is very likely that companies such as Wyeth (Centrum), Bayer (One-A-Day), and Pfizer, will drive this activity. Note that these companies already have animal health divisions so this is not merely speculation. It is also likely that very targeted pet supplements and pet medications will become available. They’ll be pushed through both very narrow channels (e.g., veterinaries) as well as large chains, although this will take longer.
Fourth, more products for aged and senior animals will come to market. This is actually already a key market, right along with the aging human population. Humans are becoming increasingly willing to spend money to make older pets more healthy and more comfortable.
Finally, more products will bridge the gap between food and medicine. These nutraceuticals will become quite common in the coming years. Like human nutraceuticals, the pet varieties will take many forms, such as powders, gels, gravies, and so forth, to be added to regular pet food.
Pet Product Trends in 2006
Pet Product Trends in 2006 (cont'd)
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