Colgate-Palmolive Company, manufacturer of the Hill's Science Diet petfood brand, has been losing market share to competitors as consumers are increasingly choosing petfoods that more closely resemble their own foods.
The company brings in about 13 percent of a total US$17 billion in sales from the Hill's petfood division; however, it has been losing market share to smaller petfood companies that manufacture natural petfoods or premium petfoods with high-quality ingredients.
In an effort to compete, Hill's introduced the Science Diet Nature's Best line, which included ingredients like lamb, brewers rice, soybean meal and apples. But, "the consumer had a disconnect with this idea of Science Diet and a naturals product," said Ian Cook, Colgate CEO. The company also recently reformulated its Science Diet line to no longer include chicken by-products and feature a more prominent listing of ingredients.
Although Colgate posted higher fourth-quarter results overall, the Hill's petfood division's sales fell 1 percent and operating profit fell 2 percent. The company plans to launch a new brand of petfood in March, which will contain ingredients such as chicken, salmon, fruits and vegetables, with no corn, wheat or soy.
Learn about more companies and how they are lending a helping paw and claw to their own cause campaigns
Petfood companies who promote their support of causes in their marketing campaigns are staying innovative in these uncertain times
The company builds on its boutique business with three new lines for pet stores, including baked dog food and treats
Now is the time for packagers, producers, marketers and manufacturers to capitalize on the traveling with pets trend
Read more of Dr. Mukund Parthasarathy's insights on the changing petfood retail market and how it affects petfood manufacturers large and small
As an industry, are we missing a huge opportunity to take advantage of another aspect of the human-pet bond?
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.