Healthy growth despite the economic downturn
Pet care remained somewhat immune from the economic downturn and healthy growth rates were recorded across almost all categories in 2012. Value growth was driven by the increasing pet population together with the increased consumer interest in premium products such as breed- or health condition-specific pet food. Finnish consumers were willing to invest in the wellbeing and pampering of their pets. Pet products remained the main engine for the growth of pet care in 2012 and plenty of new products were launched across many categories.
Premium and economy products flourish
The health and wellness trend is trickling down from the plates of the owners to the feeding bowls of their pets. Functional and targeted products are growing in popularity as was visible in the plentiful new breed-, size- or health condition-specific product launches in 2012. Moreover, pet owner preference continued to move towards products perceived as natural rather than industrial – a prime example of this being the raw food diet. Not only premium products, but also economy products including private label increased in popularity. Mid-priced products faced intensifying competition from other price bands, since consumers seemed to be both upgrading products to premium and downgrading to economy from the products in this category.
Intense competition continues in mature pet care
Pet care remained a highly competitive and mature category. Active marketing, a wide distribution network and new product launches remained the cornerstones for successful business strategies implemented by the winning brand manufacturers. Avenues for growth were provided by focusing on natural, domestic and unprocessed products. In addition, tailor-made and functional products appealed to Finnish pet owners. A presence in online media, in-store campaigns and pet-related events seemed to be the most popular ways to reach the consumers.
New channels challenge pet shops
Grocery retailers and pet shops remained the leading retail channels in 2012 in pet care in Finland, but faced intensifying competition from new channels. Store-based retailing lost sales share to the rapidly growing online retailing. In order to stay at the winning end, retailers expanded their distribution network online and opened internet outlets. On the other hand, face-to-face customer service remained a competitive advantage for the specialised retail channels, namely pet shops. Another channel challenger was the home improvement and garden centres, which held a small share of total sales but are growing rapidly with new entries in the category. This channel challenges especially pet shops due to the focus on premium products.
Growth is expected to continue in the forecast period
Pet care is expected to continue on a healthy constant value growth trajectory in the forecast period, despite recording slightly lower constant value growth compared to the review period. The increasing pet population, new product development and consumer preference for premium products will boost sales and fight maturity. Pet products, premium dog and cat food together with dog treats and cat treats are expected to see the highest value growth, since there is more untapped market potential in these categories. The competitive landscape is expected to remain intense with more entries from foreign companies, especially in internet retailing.
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Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Finland with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Pet Care industry in Finland, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Finland for free:
The Pet Care in Finland 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 Finland?
- What are the major brands in Finland?
- 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.