LONDON, Oct. 25, 2016 /PRNewswire/ -- Summary
Pet Care is a resilient market that was relatively unaffected by the economic downturn, so despite the expected decline in consumer confidence following the EU referendum, the market will continue to grow over the next five years, albeit at a slightly slower rate in 2017 and 2018. There is polarisation in the market with the health and wellness trend driving consumers to purchase premium pet care items, while the expansion of discounters and single-priced players has supported volume growth of low value goods.
Key Findings
- The pet accessories market is set to be worth £643m in 2016, up 13.0% between 2011 and 2016, and forecast to grow 14.8% over the next five years, making it the fastest growing category in the pet care sector.
- Collectively, the big four grocers still dominate the Pet Care market, however their share of the market is declining, as discounters and value focused general merchandisers continue to expand rapidly and steal shopper footfall and sales.
- Online channel gains traction. Purchases made online will account for 10.9% of the total Pet Care market in 2016 with the prevalence of online pureplays and extended ranges from multichannel retailers allowing consumers to purchase specialist products and bulk-buy pet food at a discounted price. Automated delivery schemes are also driving channel growth.
- Trends such as pet humanisation have led to the development of food products such as probiotics and supplements, while technology targeted at pets has become more prevalent. Innovations in pet food are yet to fully see their potential realized, so we expect this to support growth over the next five years.
- The rise in house prices, increased urbanisation and population growth has led to more people renting and living in smaller homes. As a result, consumers are less inclined to own pets due to restrictions from their landlords as well as a lack of physical space - having a long term impact on potential growth in the Pet Care market.
Synopsis
The Pet Care Sector Report offers a comprehensive insight into the pet care market and its sub-sectors, including pet food, pet health and hygiene, and pet accessories. The report analyses the market, the major players, consumer shopping habits and the main trends.
It provides in-depth analysis of the following:
- The hot issues
- What people buy
- Where people shop
- How people shop
- Why people shop
Reasons To Buy
- Utilise the detailed data and insight on the market to help form an effective growth strategy across the pet care market.
- Gain a better understanding of consumer shopping habits within pet care and which retailers are the most popular to enable you to better compete in the market.
- Identify the opportunities to grow sales in this sector by comparing strategies of the key players in the market and their performance metrics.
- Understand which trends are driving consumer spend on pet care and how you can tap into these trends.
- Gain an understanding of which consumers spend the most on pet care, which demographics have the lowest pet care penetration and which regions in the UK have the highest pet care penetration to allow you to target specific consumer groups more effectively.
Download the full report: https://www.reportbuyer.com/product/4221588/
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Sarah Smith
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SOURCE ReportBuyer
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