Overlooking the Dog Food industry potential

The first commercially produced pet food product was a dog biscuit produced and introduced in England about 1860. Since then the processed pet food industry has become a $23.7 billion industry. Today the pet food industry has grown to a worldwide industry with an endless array of products. Some manufacturers have stated that their products are so nutritious with real meat and vegetables, that they are practically suitable for human consumption. Packaging has also been reinventing with resealable packing to ensure freshness and helps prevent bacteria from contaminating the food. So great is this industry, that sales and the potential for growth of this industry has for the most part been overlooked by most investors. Nestle Purina Store Petcare introduced the Beneful brand of dog food in 2001. Beneful includes dry dog foods, wet dog foods, and dog treats. By 2012, Beneful had become the fourth largest dog food brand becoming one of Nestle Purina’s more prosperous brands with annual revenues of approximately $1.5 billion, according to a Amazon analysis. Also, in that same year, a $34-million television advertising campaign was launched making it the largest in Nestle Purina’s history. The basis of Beneful’s marketing was based on nutrition and appearance resembling stew with beef and vegetable pieces. Beneful stands for “full of goodness” according to a company spokesperson. By the close of 2006 Beneful’s revenues had reached $300 million. In that same year, the company had upgraded it’s facilities in St. Joseph, Missouri at a cost of $36 million to produce more wet dog food. In 2010, Beneful introduced IncrediBites that was packaged in stay-fresh packs, A term Beneful referred to as “Humanizing”. Beneful’s exclusive products for dogs include their Healthy Harvest product line which was added in 2005, as the company’s first premium dry dog food which featured soy as the main source of protein instead of meat. In March of 2006, Beneful introduced prepared meals with eight flavors which featured a multipurpose resealable package allowing food containers to also serve as a convenient dog food bowl. In 2007, Beneful’s packaging was noted at the Showcase of Packaging Innovations.