Tampa, FL – Superlatus, Inc., a prominent food technology and distribution company, has unveiled its ambitious plans to venture into the global pet food market, focusing on plant-based, high-protein diets and treats. This strategic expansion comes following Superlatus’ merger with a subsidiary of TRxADE HEALTH, Inc.
According to research data from Future Market Insights (FMI), the vegan dog food market currently boasts a valuation of $13.58 billion, with an estimated Compound Annual Growth Rate (CAGR) of 7% over the next decade. This particular segment is projected to reach an impressive valuation of $26.35 billion by the year 2033. In contrast, the traditional animal protein-based dog food sector is expected to experience a CAGR of 4.3% through 2033, according to FMI.
Tim Alford, Chief Executive Officer of Superlatus, expressed the company’s enthusiasm for entering this thriving market, stating, “We are excited to enter this market. According to a broad array of established data sources, the plant-based segment of the pet food industry is growing significantly faster than the traditional animal-based segment.”
Superlatus’ strategic roadmap entails the initial launch of a line of baked, plant-based treats, with plans to expand its product offerings to encompass a comprehensive range of veterinarian-formulated, plant-based, high-protein, complete-and-balanced meals. All Superlatus pet products are set to feature reduced calorie and saturated fat contents compared to traditional animal protein-based pet foods and treats.
To create these innovative treats, Superlatus will leverage advanced extrusion technology from its wholly owned subsidiary, Sapientia Technology, LLC.
Alford further emphasized the company’s mission to foster a healthier and more sustainable future for the planet, expressing pride in offering consumers these “better-for-your-pet” food products. He believes that these offerings will rank among the healthiest and most delectable choices for pets.
Superlatus’ vegan pet treats are poised for launch in the first quarter of 2024, with complete-and-balanced formulas expected to follow later in the same year. This strategic move reflects Superlatus’ commitment to meeting the evolving demands of pet owners and aligning with the burgeoning plant-based pet nutrition trend.
