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General Mills’ pet business is achieving unicorn growth despite challenges

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Despite supply chain challenges and cost inflations, General Mills reported growth in sales of 30% to $568 million in its pet food category so far in 2022 by leveraging the cost savings. According to the CG giant, the net sales rose up to 28% to $1.65 billion, while the organic sales increased up to 16%. This tremendous growth is the result of favourable net price mix and realisation along with strong volume growth. The company holds that the pet business accounts for 19.5% of the company’s net sales, representing the second-largest business sector of General Mills. Plus, the acquisition of Tyson Foods’ pet treat business earned General Mills a 21% growth in the sales of True Chews, Nudges, and Top Chews brands.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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