Freshpet is optimistic in reaching $1.25 billion sales in 2025
The American pet food producer expects to increase yearly at a rate of 35% despite the current circumstances and reach more than 11 million consumers.
The projection for 2022 is that the New Jersey-based company will reach $575m (€535M) in sales, against $425.5 (€393.9M) in 2021.
In a business update published recently, the company believes that at the current guidance growth rate they are “well ahead of the path” to achieve their sales goal by 2025.
At the same time, the New Jersey-based manufacturer is confident that it will reach a net sales capacity of $2.6B (€2.42B) in 2025 in all its facilities. Currently, the capacity is worth $900,000 (€840,000).
Freshpet’s penetration growth is also expected to accelerate in 2022 following improved in-stocks and advertising support. Figures shared by the company show that the penetration of its products is expected to grow by 3% (in 2020 and 2021 the increase was 21% each year).
The buying rate is expected to reach $151 (€140.5), an increase of 24%. In 2021, the average spending was $121.3 (€112.8).
The company’s sales reached $132.2 million (€125.8M) in the first 3 months of 2022. In the same period for 2021, sales accounted for $93.4 million (€88.9M).
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