Pet care growth rate set to continue its acceleration in 2013
The uninterrupted growth of pet care products will continue in 2013, and the category will record a current value increase set to exceed the CAGR recorded during the whole review period in current value terms. This excellent result is due to the continuing penetration of prepared dog food and prepared cat food, the total consumption percentage of which were traditionally low in Bulgaria. The pet population is set to fall by more than 2,000, but this decline will not be significant enough to interrupt the category’s excellent growth.
Increasing segmentation of pet care encourages growth
Pet care products developed along the economy and premium segments within dog and cat food. The increasing choice of brands at different price levels encouraged more owners to buy prepared food for their pets, according to their budget. In the economy segment the expansion of private label and domestic products supported the trend while, in the premium segment, pet owners could choose from different brands that care for the wellbeing and had health and wellness features. New product development occurred mostly within dry dog food and dry cat food. Within pet products, pet care pulled the growth of the whole category as a result of better awareness and demand for such products.
The competitive battle intensifies within pet care as a whole
The care market is very concentrated and the top four companies account for over three quarters of the market value. Within the top ranks, multinational manufacturers were the key players with only one company of local origin. In 2013 the competitive pressure is set to intensify due to the strengthening of private label and the entry of premium-positioned producers with diversified portfolios, covering different areas across pet care.
Pet shops remain the most popular channel followed by modern retailing formats
Pet shops retained their position as the most important distribution channel, accounting for more than half of the current value sales in the review period. The typical pet shop is relatively small but, nevertheless, stocks a variety of products across all price levels. Consumers are attracted to this traditionally strong channel because of the convenient neighbourhood locations and the opportunity pet shops provide to receive professional advice from the shop assistants. The modern retailing formats are gaining in popularity, although the combined share of supermarkets and hypermarkets is still below that of pet shops. Veterinary clinics were important for the sale of pet products, including healthcare.
Pet care will continue to develop at a similar rate in the forecast period
Pet care will continue its stable development during the forecast period, and its constant value CAGR will closely match that of the review period. The growing variety of pet food at all possible price points, lack of time on the part of the urban population and desire to provide healthy and nutritious food will prompt an increasing number of pet owners to prefer prepared food over home-made food. The anticipated increase in the pet population in Bulgaria will also support the positive forecast.
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Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Bulgaria with research from Euromonitor's team of in-country analysts.
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The Pet Care in Bulgaria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Pet Care in Bulgaria?
- What are the major brands in Bulgaria?
- How did the downturn affect pet care spending?
- Which is the best-performing category within pet care?
- Which is the fastest-growing pet food manufacturer?
- How have pet specialists fared in recent years?
- What are growth prospects for pet care in the next 5 years?
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- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
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This industry report originates from Passport, our Pet Care market research database.