Case Study
INNOVATION IN FOOD WASTE TO CREATE INGREDIENT FOR PET FOOD INDUSTRY
We were hired by an investment bank to do an in-depth exploration through expert interviews to determine the viability of using a food industry waste stream to create an ingredient for the pet food industry. We discovered that several key assumptions made by the operating company were incorrect and by tapping into a high calbire pool of pet food industry and formulation experts we were able to properly size the opportunity as being dramatically smaller than conceived of by the company.
Growth Strategy
Team
2 Project managers
1 Analyst
Timeline
8 Weeks
Project highlights
20 expert interviews with senior players in the pet food industry covering channel, marketing trends, formulation, production and sourcing
In-depth secondary research to quantify trends identified through expert interviews
Market sizing and modeling exercise to add dimensions to the opportunity.
The Client
The client was an investment bank looking to potentially raise debt or equity for a start-up which recycled food waste and after treating it with certain enzymes had an outflow food product which conceivably could be used as an ingredient, for example in the pet food industry.
‘‘We realized that the investmet case was not at all what we had understood it to be. The prices paid for pet food ingredients were much lower than expected, there was no market for a vegan ingredient, the market wasn’t interested in a sustainability claim, and the private label market which we aimed to serve was much smaller than understood. We decided to hit pause on this investment.’’
- Client.