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Human-Animal Bond Drives $11 Billion Pet Supplies Market, according to Packaged Facts
Packaged Facts is predicting a gradually improving showing for pet supplies as pent-up demand finally begins to kick in. The biggest external factor remains the economy, which is expected to continue to gradually strengthen.
Nonetheless, Packaged Facts is predicting a gradually improving showing for pet supplies as pent-up demand finally begins to kick in. The biggest external factor remains the economy, which is expected to continue to gradually strengthen.
Internally, a number of market factors also point to a return to healthier growth. These include the industry’s success in playing up the human-animal bond to drive higher-ticket, sales of premium products, the strong market presence of upper-income households who are willing and able to spend heavily on pet supplies, and the growing population of pets with specialized health needs, especially senior and overweight dogs and cats.
Another good sign is the ongoing expansion of the pet specialty channel, which indicates increasing interest in all things pet, including at the key superpremium end of the spending spectrum.
According to David Sprinkle, publisher of Packaged Facts, close partnerships with retailers are more essential than ever for any product marketer hoping to thrive in the U.S. pet supplies market. Some manufacturer/
Walmart also is active in culling strong relationships with vendors, teaming up with pet supplies companies including Worldwise, which fields an extensive line of eco-friendly pet products including bedding and toys.
Although the mass-market/
At the same time, more companies are crossing the border between pet food and non-food pet supplies. The most common avenue of cross-over into food is via treats, with companies including Kong and Nylabone branching out from chew toys and non-edible chews into the pet treats segment.
The ultimate blurring, however, is that between humans and pets. Many of the products entering the U.S pet supplies market are directly reminiscent of human fare, appealing to pet owner as much as pet. With more Americans treating their pets like members of the family, there’s no question that consumers are receptive to pet products that are “human-style,”
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About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods (including foods and beverages, health and beauty care, and household products), and pet products and services. Packaged Facts also offers a full range of custom research services. To learn more, visit: http://www.packagedfacts.com/