Unleashing the Power of Plant-Based Pet Nutrition: Above Food's Strategic Acquisition Shapes the Future of the Industry

In a move that underscores the growing importance of plant-based pet food, Above Food, a leading supplier of sustainable food ingredients, has expanded its reach by acquiring The Redwood Group (TRG), a renowned employee-owned supply chain and ingredient company. This strategic acquisition positions Above Food to capitalize on the rapidly evolving plant-based pet food market, solidifying its position as a key player in delivering high-quality, innovative nutrition solutions for our beloved furry companions.

Transforming the Pet Food Landscape with a Seed-to-Fork Approach

Expanding Reach and Expertise in the Plant-Based Pet Food Segment

The acquisition of TRG significantly enhances Above Food's presence in the plant-based pet food market, a segment that has been experiencing remarkable growth. With TRG's expertise in sourcing, processing, and packaging a diverse range of commodities, including grains, cereals, oilseeds, and pulses, Above Food is now poised to cater to the increasing demand for plant-based pet nutrition.

Harnessing the Power of Vertical Integration

By controlling the entire supply chain, from seed selection and farming to ingredient processing and formulation, Above Food's seed-to-fork platform enables the company to offer unparalleled traceability, quality control, and customization capabilities. This vertical integration allows Above Food to develop innovative, nutritious plant-based ingredients specifically tailored for pet food applications, addressing the growing consumer demand for high-quality, sustainable pet nutrition solutions.

Fueling Innovation and Catering to Evolving Consumer Preferences

As pet owners become increasingly conscious of their pets' well-being, the demand for transparent, plant-based options has surged. Above Food's comprehensive approach positions the company as an invaluable partner to leading global pet food manufacturers, empowering them to rapidly respond to market trends, ensure consistent supply of premium ingredients, and support the development of differentiated, plant-based pet food products.

Capitalizing on the Rapidly Expanding Pet Food Market

The pet food industry represents a substantial and growing opportunity for Above Food, driven by several key factors. The global plant-based pet food market is projected to grow at a CAGR of 9% through 2032, outpacing the overall pet food market and indicating a strong consumer shift towards plant-based protein formulations. Furthermore, the steady increase in pet ownership and the ongoing trend of pet humanization, where pets are increasingly viewed as family members, have created a steadily expanding customer base for premium, plant-based pet food products.

Delivering Nutritious and Sustainable Solutions

Mirroring the trends in human nutrition, pet owners are increasingly seeking healthier, higher-quality food options for their furry companions. The demand for fresh, natural, and organic plant-based pet food products with transparently sourced ingredients has been further accelerated by the COVID-19 pandemic, as pet owners have become even more conscious of their pets' well-being.

Positioning for Growth and Innovation

As the plant-based food movement continues to drive innovation in the pet food industry, Above Food is poised to capitalize on the emerging opportunities. With the acquisition of TRG, Above Food has become North America's largest chickpea manufacturer, positioning the company as a strategic partner for pet food manufacturers in developing novel, nutritious plant-based formulations.

Resilience in Challenging Times

The pet food industry has historically demonstrated resilience during economic downturns, as consumers continue to prioritize spending on their pets even when tightening budgets in other areas. This resilience was evident during both the financial crisis in 2008 and the COVID-19 pandemic, where the pet industry experienced positive growth despite reduced consumer spending in other sectors.By leveraging its expanded expertise, vertically integrated platform, and commitment to innovation, Above Food is poised to lead the transformation of the pet food industry, delivering high-quality, sustainable, and nutritious plant-based solutions that cater to the evolving needs of pet owners and their beloved companions.