Economic conditions remain unsettled
Although in the broad sense economic recovery is in evidence in Ireland, albeit at lower levels than initially anticipated by government and analysts alike, consumer confidence remains low with high levels of unemployment and emigration. The aftermath of the recession, which began in 2008, and the impact of austerity measures on disposable incomes continue to limit non-essential expenditure with value for money remaining a key driver to spending.
Mid-range in the battle zone
Mid-range products were affected to the greatest extent in this regard, with a significant number of consumers trading down to lower priced products while others sought greater value in the types of products purchased, especially in relation to pet foods where competition and discounting activity remained fierce. Conversely, those willing and in a position to purchase more premium positioned products benefited from increased product availability and promotional activity as retailers sought to maximise category potential.
Innovation and expansion lead the way
The incessant search for value placed increased pressure on branded manufacturers to maintain competitiveness through product innovation, with a succession of additions to existing product lines as well as offering greater variation in packaging sizes with multibuys and larger pack sizes becoming more visible. A greater number of premium products were visible in supermarkets as the channel continued to come under pressure from discounters offering good quality, low priced economy and mid-range products.
Greater value and accessibility widens channel choice
Pet superstores, discounters and internet retailing continued to gain share in the Irish market, partially due to value, but also as these channels become more easily accessible with nationwide expansion. In addition, a greater number of consumers have gained access to reliable and affordable internet services either through improved connectivity at home and/or via mobile devices, and these factors all placed increasing pressure on channels which have traditionally performed well such as supermarkets and pet stores.
Income levels to drive forecast performance
While future volume sales are expected to remain favourable, as Irish consumers’ love of pet companions is unlikely to change despite the economic challenges, constant value performance is expected to suffer as disposable incomes remain under pressure. Value for money is expected to remain key to consumer decision-making for the duration of the forecast period as, despite improvements in economic conditions, incomes are expected to continue to suffer due to the necessity of further severe budgets in the initial years of the forecast period in particular.
Samples (FAQs about samples):
Sample Pet Care Market Research Report
Sample Pet Care Data
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Ireland 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 Ireland, 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 Ireland for free:
The Pet Care in Ireland 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 Ireland?
- What are the major brands in Ireland?
- 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.