Pet care products record strong growth in terms of value sales
Value sales of pet care are set to record strong growth in 2013. Pet owners moved to premium brands, especially towards organic pet food and products with added functions, which are usually more expensive than regular pet food. Moreover, the humanisation trend continues to rise, strongly evidenced by pet owners being increasingly willing to spend more on buying fashionable clothing for their dogs. Festive seasons, such as Christmas, Halloween and Chinese New Year, present good opportunities for sales of pet clothing as more pet owners spend on buying clothing for their pets to dress up for the festivals.
Organic and natural products grow quickly in 2013
According to government statistics, pet owners are usually middle-income consumers in Hong Kong. Middle-income consumers are usually those who are more knowledgeable about the advantages of organic and natural products. These pet owners often desire organic and natural products and have more financial resources to buy expensive products for their pets. Some pet owners will only choose pet products that are approved by the US Department of Agriculture (USDA). Under the rising humanisation trend in Hong Kong, which is resulting in pet owners spending more, an increasing number of consumers are willing to move to more expensive organic brands for their pets.
International brands continue to lead sales
International brands dominate pet care sales, especially within cat and dog food, and cat litter products. These companies implement much greater research in developing new products to catch up with the latest demand from consumers. In addition, their extensive distribution networks cover both supermarkets and major pet shops, leading them to reach a wide consumer base in Hong Kong. Moreover, international companies own well-known brand names due to their frequent advertising in the media and through the brands’ websites. In addition, consumers trust international brands for their quality and tend to stay loyal to such products.
Online pet shops grow quickly due to lower prices and greater convenience
Rental prices in Hong Kong increased greatly in both 2012 and 2013; small and independent pet shops could not afford the high rents and started to move online. With lower operating costs by selling products online, internet-based pet shops can offer lower unit prices to attract consumers and gain value share. Online pet shops use extensive advertising on Facebook and search engines in order to attract customers. In addition, online pet shops offer a platform for consumers to review the different prices and functions of a wide range of products in a convenient way.
Pet care products in Hong Kong are expected to perform well over the forecast period
Having a pet is a popular trend in Hong Kong and this is likely to be maintained over the forecast period. Moreover, with the humanisation trend, pet owners are expected to move to premium pet food and purchase additional pet care products other than food. In order to respond to the high level of needs of consumers, companies are expected to provide more premium and innovative products for pet owners to choose from, leading to higher unit prices over the forecast period.
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The Pet Care in Hong Kong, China 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 Hong Kong, China?
- What are the major brands in Hong Kong, China?
- 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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This industry report originates from Passport, our Pet Care market research database.