- A steady growth has been recorded in the Pet food market in past several years showcasing slow performance of pet retail market.
- Pet food account for the largest share in Pet care market followed by other pet supplies and OTC for pets.
Ken Research announced its latest publication on, “Top Trends in Pet Products; Exploring the pet care and pet food categories” which provides a comprehensive analysis of the global pet care market, seeks to explore the key trends and future opportunities that are being shaped up by the changing consumer behaviors and needs in the pet care industry. In addition, the report explores, key consumer behavior and innovative trends that impact the global pet care market and analyze the key implications across packaging, formulation, and positioning.
The pet care market is composed of pet food and pet health care. The global pet care market is expected to experience a steady growth, primarily driven by changing socio economic and cultural factors that have led to domestic pets being regarded as member of the family. Wherein, it caters to pet food sector growing from generic food to specialized premium quality products and grooming expenses. Market provides wider choices to its customers with improved quality and innovative products to offer.
Major factors leading to increased growth in the pet care market includes, indulgence of new aware owners prefer products with a high nutritional value and manufacturing safety standards, similar to human food. The global pet food market is also driven by trends such as the changing lifestyle, growing urbanization and rising level of disposable incomes. In addition to this, the rising trend of nuclear families has boosted the global pet food market.
The recent development in the pet food market has led to the classification of food type into, snacks/treats, nutritious food, wet/canned food and dry food. The global pet food market is dominated by the dry pet food segment. The second largest segment in the global pet food market is that of snacks/treats. Players in the global pet food market are increasingly broadening their product portfolio to offer nutritious products such as organic pet food.
The recent trends observed in the global pet care market which has induced its growth have been:
- Obesity rates and allergies among pets are on the rise and this is driving strong growth in demand for health and wellness pet food, as well as gadgets to help owners monitor how much exercise and food their pet is getting.
Cat owners have a cat in the oldest age bracket, which require specialized care. Thus providing opportunity to manufacturers of senior pet products and veterinary services. Prices for which can be well above average, allowing companies to earn more revenue.
The pet industry attracts a variety of pet startups, with innovative products and services for all types of pet owners.
- The pet industry banks on high-income households as a dominant force in the industry.
These ongoing concerns and behavior are impacting innovation trends, with factors such as premiumization, technological advancements, and health playing a lead role in shaping up future demand. Premiumization plays a vital role in pet health and wellness sector, driven by food and electronic gadgets for pets that enable owner to track their pet.
Key Topics Covered in the Report:
- -Top Four Trends in Pet Products
- -Consumer insight in relation to the pet food and care categories
- -Innovation and recommendations for brands operating in the market
- -Analyze the key implications across packaging, formulation, and positioning.
Market Competition and Companies Covered
FroliCat, iFetch, Surefeed, CleverPet, PetCube, Lily’s Kitchen, The Honest Kitchen, Natural Instinct, The Laughing Dog, Pet Remedy, Woof and Brew, PetNet, WonderWoof, PetPace, Purina, Frozzys, Pedigree, Groom Professional, Bondi Wash, Mon Petit, Nature’s Menu, Bubba Rose, Beco, Saint Roche
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Ankur Gupta, Head Marketing & Communicationsquery@kenresearch.com
Ken Research is a Global aggregator and publisher of Market intelligence research reports, equity reports, data base directories and economy reports. The company is engaged in data analytics and aids clients in due-diligence, product expansion, plant setup, acquisition intelligence to all the other gamut of objectives through our research focus.