2014 pet care maintains high growth level from 2013
High growth in pet care continued to be the standard in 2014. Although the growth rate did not sustain the double-digit level of the previous year, it remained significant. This excellent result was due to the continuing penetration of dog food and cat food, the total consumption percentage of which were traditionally low in Bulgaria. While the pet population continued its slow decline, the habits of consumers geared towards more spending per pet.
Premium products continue to drive growth and stand out
Trading was the main trend in 2014. Consumers continued to buy higher tier products, as a reaction to concerns for their pets’ quality of life. The growth of the premium segment is the strongest in dog food, with dog food being the largest product category in terms of volume, as well as amounting to nearly half of total pet care sales in value terms. The premium segments’ growth was driven by product differentiation and an on-going stream of new product developments. Particularly, there was a strong trend for specialisation of products by various factors, such as age, therapeutic needs and nutritional focus.
Pet shops not going away
Pet shops remained as the most important distribution channel, accounting for half of the current value sales over the review period. The typical pet shop is relatively small but, nevertheless, stocks a variety of products across all price levels and for a variety of pets. Pet shops represents the traditional approach towards pet-keeping: it offers a wide variety of products, attendants who can provide professional advice, as well as a place where local pet lovers can meet up and connect. Another important channel is veterinary clinics. While it only commands a substantial share of sales in specialised pet healthcare (under pet products), it emerged as an important trendsetter, or an outlet where highly specialised vets provide guidance and suggestions regarding the general purchasing behaviour of pet owners.
Dog days for local players
With the increasing attention consumers paid towards health and nutrition as the primary factors for purchasing pet care, especially pet food, local producers found it difficult to compete. The majority of local players are geared towards low cost production and many do not see pet food as their primary business, which means less marketing expenditure and product development. This resulted in increased competition in the most price-sensitive categories.
Growth remains positive but will not sustain the same levels
Over the forecast period, several dynamics are expected to continue driving growth in pet care. On the one hand, increasing the quality of life of their pets will remain an important focus of consumers. In addition, as more and more urban consumers choose smaller dogs and various non-traditional pets such as small mammals and reptiles, spending per pet will increase. Finally, a key driver remains the large product variety, covering all price levels, as well as the increasing availability of good pet products in convenient retail locations. Despite these factors, the same growth levels are not expected to be maintained throughout the forecast period. Rather, a decrease to single-digit growth is predicted, which signifies the stabilisation of pet care and its impending maturity.
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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?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Pet Care market research database.