PET CARE PRODUCTS MARKET ANALYSIS

Pet care products includes items used for maintaining a healthy life for pets. These includes food products and supplements among others. Increasing number of people adopting and buying pets is expected to be a major factor driving growth of the market. Pet owners are increasingly focusing on specialized diets, due to rising dietary recommendations by vets and to maintain health of their pets. Therefore, various manufacturers in the market are focusing on offering specialized pet care products, for instance, Farmina, with its N&D product line provides all-natural products such as chicken & pomegranate puppy mini & medium, chicken & pomegranate adult maxi, fish & orange adult mini and others. These products are GMO-free, gluten-free, and are rich in high-quality vitamins, thus ensuring a high-quality specialized food diet for pets.

Market Dynamics

Some of the major driving factors for growth of the pet care products market are increasing awareness of pet ownership, rising focus of owners on weight management of the pets, and increasing demand for ancillary pet products. One of the major concern of pet owners is obesity of their pet, which is expected to boost demand for therapeutic products for dogs, cats, and other pets. In India, Scientific Remedies introduced the world’s first therapeutic pet food, Hill’s, which deals with nutritional management of the animals. According to the Association for Pet Obesity Prevention, 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016, which is expected to increase sales of therapeutic dog and cat food, and calorie-controlled products. According to the Association for Pet Obesity Prevention, the sales in North America for therapeutic product grew by almost 20% from 2012 to 2017. Other factors such as pet owners spending on ancillary pet products such as shampoos, pet spa, pet accessories, and other products is expected to fuel growth of the pet care products market. According to the American Feed Industry Association, the global spending on pet care in 2016 was valued at over US$ 100 billion and is expected to increase significantly, in the near future with growing diet controlled pet foods and hygiene.

The pet care products market is also expected to be driven by various technological innovation in the pet care products industry. For instance, PetPartner CRM is a mobile application, which connects to various vet clinics for appointments, reminders, track medications, pet insurance, and buy food and medications. Other application such as VetOnDemand provide assistant and support for consulting purpose to help assess the severity of the symptoms the pet is experiencing. The American Veterinary Medical Association introduced a Human-Animal Bond certification, which allows owner to get practical advice on how to ensure good bonds are built that could aid in reducing stress and anxiety, lower blood pressure, and others. Various trackers are developed by manufacturers, which allows owners to monitor their pets, when out of sight. For instance, in 2012, Petcube, Inc. introduced various products such as pet cube bites, pet cube play, pet cube care, and others, which allows the owner to look after their pet even when away from home and also aids in interaction with their pets.

Market Outlook

The litter box, which is also known as sandbox, litter tray, litter pan, or cat box, is used for collecting indoor feces and urine of cats, rabbits, ferrets, small dogs such as Beagles and Chihuahuas, and other pets. The cat litter segment is expected to exhibit high growth over the forecast period. Various cat litters are available in the market such as clay cat litter, silica cat litter, and biodegradable cat litters. Consumer awareness towards eco-friendly products is expected to fuel demand for biodegradable cat litters, which consist of cedar, sawdust, pine, corn, beet pulp, soybean, wheat, and recycled paper products that can be incinerated, composted, and used as mulch. For instance, Draynecs BVBA, a company from Belgium, introduced Clumping Vegetal Catlitter, which is made from organic cereal-based fiber with high odor controllability and better shelf-life. Other biodegradable cat litter products are Feline Pine Original Cat Litter, Biodegradable Bentonite Kitty Litter, Biodegradable, and Hygienic Tofu Cat Litter in Blueberry Flavor along with others.

North America is expected to account for major share in the pet care products market in the forecast period. According to the American Pet Products Association, in 2017, US$ 69.36 billion was spent on pets in the U.S., which is an increase by US$ 40 billion from 2001. The major spending sectors for pet owners are food and vet care, which is US$ 30 billion and US$ 17 billion respectively.

Asia Pacific is expected to be the fastest growing pet care products market by 2025. This is owing to increasing pet adoption in countries such as India, South Korea, and others. In South Korea, 17% of the household owns a pet (cats, dogs, mini pigs and others), which is in turn leading to growth of the pet care products market in Asia Pacific. Furthermore, in China, local players such as Shanghai Bridge Petcare and others are competing with the foreign players such as Mars Foods, Royal Canin Au Yu (Shanghai) Pet Food, and others by using North European standards in pet food manufacturing and exporting various products such as Nature Bridge, Nature Club, Kitchen Flavor, Nory, and others with competitive pricing.

Some of the major key players in the pet care products market include, Mars Incorporated, Nestlé S.A., Hills Pet Nutrition Inc., Wellpet LLC, Proctor & Gamble Co., Nutriara Alimentos Ltd., Agrolimen SA, and Uni-Charm Corp. among others.

Pet Care Products Market Taxonomy:

On the basis of product type, the global pet care products market is classified into:

• Pet Food
• Dog Food
• Cat Food
• Others
• Cat Litter
• Pet Dietary Supplements
• Pet Healthcare
• Others

On the basis of distribution channel, the global pet care products market is classified into:

• Hypermarket
• Supermarket
• Specialty Stores
• Online Stores
• Veterinary Stores
• Others

Pet Care Products Market Key Developments:

The players operating in pet care market are undergoing various mergers & acquisitions and product development in order to maintain their position in the competitive business environment. For instance, in May 2017, PetSmart, Inc. completed the acquisition of Chewy Inc., one of leading online retailer for pet care products. This acquisition helps PetSmart Inc. and Chewy Inc. to expand their global presence along with better consumer experience with their convenient pet care products.

Furthermore, in August 2016, Annamaet Petfoods announced its new canine formula, Annamaet Sustain, as a part of its green business practices. This is a palatable formula made with Certified Fish Source.

The companies dealing into the market are undertaking various promotional and marketing activities in order to increase their popularity worldwide. For instance, Animal Necessity, LLC, manufacturer of nutritional pet care products showcased their line of veterinary specialty products at world pet association trade show: SuperZoo held in Las Vegas, NV in August 2016.

In addition to this, Best Shot Pet Products International launched its new Chlorhexidine Shampoo at SuperZoo trade show in August 2016. The shampoo is manufactured for moisturizing and routine bathing for dogs, horses, cats, and foals.