This industry study priced at $5100, presents historical demand data (2001, 2006 and 2011) plus forecasts for 2016 and 2021 by pet health product, service, medical condition and animal. The study also considers market environment factors, evaluates company market share, and profiles 41 US industry producers (such as Bayer, Merck, Merial, Novartis and Pfizer) and insurers (such as Embrace, Hartville Group and Pethealth).
Consumer spending on pets to reach $31.7 billion in 2016
US spending on pet health products and services at the consumer level is expected to reach $31.7 billion in 2016. Manufacturers’ level pet health product demand is forecast to increase 4.6 percent annually to $5.6 billion that year. Advances in expenditures will be encouraged by the continuing trend of humanizing companion animals and their perception as family members, as well as by growth in the overall pet population. Veterinary technology will continue to adapt diagnostic and treatment techniques from human health care, stimulating value gains for newer, more costly procedures.
Revenues for pet insurance to continue double-digit growth
While the US pet health industry has traditionally been regarded as being “recession-resistant,” spending was somewhat impacted by the 2007-2009 US economic recession. However, demand did not experience declines during this time, as health care is a necessary -- and, to some degree, expected -- expenditure for pet owning households. Uncertain economic conditions led to especially strong growth in demand for services such as pet insurance and for products, including dietary supplements, intended to prevent medical conditions. Among products, pharmaceuticals will retain the leading share of sales, following trends in human medical treatment.
As spending on pet health has increased over the last several decades, so have the average expected lifespans of many companion animal species. Accordingly, incidences of age-related medical conditions (e.g., arthritis, cancer) have also grown. Increasingly prevalent weightrelated conditions (e.g., diabetes, heart disease) will further lead to increasing demand for products and services, as a significant number of pets are overweight or obese. In order to better afford these treatments, more owners will purchase pet insurance policies, with revenues expected to continue to grow at doubledigit annual rates.
Health care expenditures on products for cats to increase
While cats have long represented the largest segment of the pet population, spending on health care products for dogs accounted for a disproportionate 69 percent of the total in 2011. Dogs’ greater time spent outdoors raises their exposure to environmental hazards, and dogs are more susceptible to certain medical conditions, such as heart disease. However, research and development into more catspecific health products will incrementally increase cats’ share of the pet health product market going forward.
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During the economic "new normal" of economic lethargy, U.S. pet owners remain focused on value, necessitating that U.S. marketers and retailers do the same. Affordable pricing is a key consideration, but so are premium-style products with functional (health) and indulgence (pampering) attributes appealing to people and pets alike. Accordingly, stylish, distinctly “human-style” products and brands continue to make waves in the market, even as lower-priced private labels—often directly comparable to their national brand counterparts—continue to gain traction.
To succeed in the current market environment, a solid grasp of broad pet market trends is essential. The pet supplies market is vast, however, encompassing everything from cat litter and health/hygiene products to toys and apparel. So market players must examine category by category the wants and needs of the product purchasers they hope to attract and retain.
Tapping into Packaged Facts’ extensive pet market research collection and analyst expertise, this edition provides category breakouts and insights not available from any other source. Covering nonfood pet supplies of all types and for all companion animal types, the report examines trends in flea/tick care products, cat litter, toys, rawhide chews, bedding, grooming products, supplements, clean-up products, and numerous other product segments. Using 2011 as the base year, it charts sales since 2007 and forecasts sales through 2016; breaks the market out by animal type, product category, and retail channel; presents dollar sales and market shares for leading marketers and brands in mass channels, the natural supermarket channel, and the specialty gourmet supermarket channel; analyzes competitive strategies and new product trends; and provides demographic and psychographic profiles of product purchasers.
Trends examined include pet health and pampering; the increasing strength of private-label pet products; the changing paradigm in flea/tick spot-ons as formerly “vet-only” brands cross over into retail and patents expire; natural/organic and sustainable appeals; brand licensing and celebrity pitches; and pet travel and convenience products.
Special features include a discussion of pet supplies purchasing by economy related factors and by retail channel, focusing on cross-channel shopping and shopper loyalty; proprietary pet owner survey data collected by Packaged Facts during 2011 and 2012; and a first-hand report on new product trends based on Packaged Facts’ participation in the American Pet Products Association’s 2012 Global Pet Expo in Orlando, FL.
To succeed in the current market environment, a solid grasp of broad pet market trends is essential. The pet supplies market is vast, however, encompassing everything from cat litter and health/hygiene products to toys and apparel. So market players must examine category by category the wants and needs of the product purchasers they hope to attract and retain.
Tapping into Packaged Facts’ extensive pet market research collection and analyst expertise, this edition provides category breakouts and insights not available from any other source. Covering nonfood pet supplies of all types and for all companion animal types, the report examines trends in flea/tick care products, cat litter, toys, rawhide chews, bedding, grooming products, supplements, clean-up products, and numerous other product segments. Using 2011 as the base year, it charts sales since 2007 and forecasts sales through 2016; breaks the market out by animal type, product category, and retail channel; presents dollar sales and market shares for leading marketers and brands in mass channels, the natural supermarket channel, and the specialty gourmet supermarket channel; analyzes competitive strategies and new product trends; and provides demographic and psychographic profiles of product purchasers.
Trends examined include pet health and pampering; the increasing strength of private-label pet products; the changing paradigm in flea/tick spot-ons as formerly “vet-only” brands cross over into retail and patents expire; natural/organic and sustainable appeals; brand licensing and celebrity pitches; and pet travel and convenience products.
Special features include a discussion of pet supplies purchasing by economy related factors and by retail channel, focusing on cross-channel shopping and shopper loyalty; proprietary pet owner survey data collected by Packaged Facts during 2011 and 2012; and a first-hand report on new product trends based on Packaged Facts’ participation in the American Pet Products Association’s 2012 Global Pet Expo in Orlando, FL.
Explore Table of Contents, Request A Sample for purchase consideration or Buy your copy of this report @: http://www.reportsnreports.com/reports/183814-pet-supplies-and-pet-care-products-in-the-us-9th-edition.html.
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