Press Release Summary = Menu Foods, a Toronto-based company, recently recalled its pet food from the market, thereby driving the organic pet food demand high.
Press Release Body = On March 16, 2007, Menu Food Inc., that makes pet food for most of top retailers of North America, lifted products with packaging date from December 3, 2006 to March 6, 2007 as those products are supposed to be the key reason behind the deaths of hundreds of dogs and cats around the nation. The company also suggested the retailers to clear their shelves off these products to verify the packaging dates.
The recall by the company had the products with reputed brand names including Nutro, Eukanuba, and Iams that are distributed throughout the US, Mexico, and Canada by big names of the retail industry, like Kroger, Wal-Mart, and Safeway.
The members of a vet’s website reported a minimum of 471 cases of renal failure among pets in the ten days since a countrywide food (pet) recall. The founder of the website stated the total death count could be in thousands.
Researchers have identified a rodent poison aminopterin as the possible cause of deaths in pets. The US FDA (Food and Drug Administration) has reported that the investigation was centered on wheat gluten (a food ingredient) that the manufacturer said was bought from China. However, researchers have no theory to offer on how the poison leached into the food products.
Owners of the pet food stores said that the demand for the healthier alternatives of pet food has been increasing from the last some years. Organic Trade Association’s surveys highlight that organic pet food sales grew more than double from $14 Million in 2003 to $30 Million in 2005. But since this withdrawal, more people are coming and asking for organic products.
According to the RNCOS report “World Organic Foods and Beverages Report (2006)”, the organic food market in US garnered around US$ 16 Billion revenue in 2006 at a compound annual growth rate (CAGR) of 16.60% for the five-year timeframe spanning 2002 to 2006.
The market research report presents an overview of the global organic market with a comprehensive study on North America, Europe, and Asia-Pacific. Segmentation of the markets by products, by revenue, by area under organic farming, and by store format in different countries of the above regions has been covered in the report. Information on industry analysis subsuming growth drivers, challenges, and future outlook is vital for investors.
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