Omni, the UK-based producer of vegan pet food, is set to triple its revenues in 2024 following successful collaborations and listings with the European retailer Fressnapf.
According to CEO Dr Guy Sandelowsky, Omni aims to attain an annual revenue of £4 million ($5 million) in 2024, representing a significant increase from the projected £1.2 million for the year 2023.
The dry dog food and treats, categorized into ‘three life stages’ (puppy, adult, and senior), will be available for purchase through Fressnapf’s online store in Germany, France, the Netherlands, and Italy.
“This launch is an important milestone for the entire alternative protein pet food movement as it clearly demonstrates the growing mainstream interest in plant-based and other alternative-protein dog food,” Sandelowsky said.
“As far as I’m aware, this is the first fully plant-based product [Fressnapf offers], especially as a full range of food.”
Before securing the Fressnapf deal, Omni primarily conducted sales within the UK through its official website. Approximately 10% of its sales were generated through the e-commerce giant Amazon and traditional brick-and-mortar retailers.
Following the agreement, the company anticipates that approximately 30% of its sales will originate from the European market.
Omni’s projected revenue of £1.2 million in 2023 represents an approximate 84% increase compared to the £650,000 it earned in 2022. Regarding net profits, Sandelowsky mentioned that the company “cannot disclose that information at this stage.”
The company’s strategy focuses on highlighting the health benefits of plant-based pet food, according to Sandelowsky. He explained, “We adopt the ‘veterinary assigns that’ approach.” Sandelowsky also noted that the primary trend propelling plant-based pet food sales in the UK and Germany is the “humanisation” of pets.
“What we do to ourselves we do to our pets,” he said. “Especially amongst millennials, who may actually defer having children later at some stage in life but have a pet first.”
People are also becoming “increasingly aware of the negative health impacts” of meat eating and are “conscientious about what happens to the planet”, he added.
Half of Omni’s customer base consists of individuals identifying as vegan or vegetarian, while the other half primarily comprises flexitarians. The latter group is characterized by individuals who are mindful of the “health and environmental impact” of meat consumption and are actively “trying to cut down,” as stated by Sandelowsky.
Omni positions its dry food at approximately £6 per kg, describing itself as “low-end premium.” Sandelowsky noted that pet owners are willing to invest more in quality products.
“One thing is clear: the budget sector of the market is not where there is growth. People understand that if they’re paying a very little bit for their dog food they’re probably not getting the most high-quality ingredients in their dog food,” he said.
Omni intends to introduce its wet food range in collaboration with Fressnapf, targeting a launch around the second quarter of the upcoming year.
The company is also about to launch a supplement line and expects to introduce a cat food product in the second quarter of 2024.
Omni collaborates with a third-party manufacturer that possesses the capability to produce in both the UK and throughout Europe. As the company expands its production on the continent, Sandelowsky mentioned this manufacturing partner’s extended capacity.