The global pet care market has generally proved resilient to recession thus far but continued economic uncertainties could undermine the trends that have kept pet care afloat. Overall, global pet care retail values are set to post real terms growth estimated at more than 2% in 2013, which was quite in line with the 2012 growth rate. However, this was still far from pre-recession rates.
Humanisation is still the trend driving pet care, as pet owners increasingly treat their pets as family members or even as ersatz children. This trend manifests itself most in relation to dogs and cats, but is also gaining momentum in other pets.
Premiumisation is also quite important, as many pet owners wish to give nothing but the very best to their pets, and this is reflected in their buying more premium food, with added functionality or premium ingredients.
While these drivers are specific to the pet care industry, there are also demographic factors which are highly influential. The growing migration to cities, the increase of mega cities as well as a shift to smaller households and an increasing fast pace of life are all factors that deeply affect the choice of a pet.
For more information on the Global pet care market, please click here: Global pet care market
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