Pet care continues to grow retail value sales
Pet care registered slower current value growth in 2013, compared with 2012. Growth was mainly limited by economic conditions, due to the new implementation of economic strategies imposed by the government. The aggressive competition in pricing, packaging and marketing and promotional activities also dampened growth prospects. Nonetheless, the rise in pet ownership contributed to the strong performance of pet care in Malaysia. This increased the consumer base and demand for good quality products that enhance the wellbeing of pets.
Pet humanisation trend
In cities, consumers are delaying marriage and having children, mainly because of their weak financial situation, in 2013. They are more focused on a career in order to improve their income. Hence, some people chose to keep a pet as a life companion and were more willing to spend on pet care to ensure the wellbeing of their animal. Therefore, owners increasingly purchased premium pet food as well as pet healthcare and pet dietary supplements. Luxury items such as beauty products and accessories, especially for dogs and cats, also gained retail value share as more owners treated their pets like children.
International players lead pet care in Malaysia
International players like Mars Foods Inc, Purina Petcare (M) Sdn Bhd and Hill's Pet Nutrition Inc are among the leaders in pet care. As they have a long-established presence in the market, their brands enjoy high recognition and are perceived to offer good quality products and health benefits. However, one regional player has emerged rapidly and is threatening international players. During the review period, Perfect Companion (M) Sdn Bhd competed aggressively in economy dry and wet cat food. As a result, the company’s products occupied more shelf space in hypermarkets and supermarkets.
Strong performance of non-grocery retailing
Pet shops remained the leading distribution channel in 2013 due to a wide choice of pet care products, followed by hypermarkets and supermarkets. These modern grocery retailers offer high levels of convenience, such as one-stop shopping and longer store opening hours. During the review period, pet superstores’ retail value share gradually increased. This format is gaining popularity as it offers a wider range of products much more competitive prices than pet shops. Furthermore, pet superstores offer extras, such as in-store veterinary and professional grooming services.
Pet care is expected to develop and grow over the forecast period
The anticipated economic rebound will boost the incomes and purchasing power of low- and middle-income consumers. This will encourage owners to trade-up to premium food and perceived non-essential items like beauty products and accessories. Owners are more aware of the importance of healthy, high nutrition value pet food. The pet humanisation trend is seeing more people treat their animals as family members. This will contribute to a sound pet care performance. However, the emergence of a wider array of pet care categories will limit the overall pace of growth in the industry.
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Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Malaysia with research from Euromonitor's team of in-country analysts.
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The Pet Care in Malaysia 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 Malaysia?
- What are the major brands in Malaysia?
- 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
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Pet Care market research database.