Pet care posts strong rate of growth
Pet care in Peru registered strong growth rates in 2012, driven by the trend towards pet pampering, as well as the higher disposable incomes of consumers. Consumers are progressively seeking to provide the best nutrition and care to their pets in order to improve their wellbeing and extend their lifespan. As a result, consumers are increasingly purchasing pet food with added-value ingredients and there was increased demand for other products, such as cat litter, pet healthcare and other pet products.
Cat population continues to increase
Given the fact that more Peruvians from urban areas are living in small living units and leading busy lifestyles, they are increasingly opting for cats as pets as they satisfy the need for companionship but they require less care than a dog. Manufacturers offering food and products oriented towards cats are benefiting from this trend and are seizing the opportunity to expand their sales by increasing their products’ availability and more frequently engaging in product development.
Local companies dominate sales
Rinti and Alicorp continued to lead pet care in Peru in 2012. Their advantageous positions are explained by the fact that they provide several economy and mid-priced brands within pet food, appealing to a large consumer base. In addition, they rely on excellent distribution networks that guarantees their presence both within traditional and modern grocery retailers, the latter being the most important distribution channel for pet care. Finally, they periodically engage in product innovation in order to appeal to more demanding consumers that are looking for products that provided added-value benefits for their pets. Nevertheless, international companies accounted for an important share of sales thanks to supporting their brands with advertising, frequently engaging in innovation and by offering almost all the premium products available in Peru.
Other grocery retailers remains the leading distribution channel
Other grocery retailers, represented by market stalls, constituted the most popular channel for dog and cat food in Peru in 2012. Their strong penetration is explained by the availability of products in loose format, which makes them affordable to a large consumer base. In addition, other grocery retailers carry a wide range of economy and mid-priced brands and the outlets are favoured due to their proximity to consumers’ households.
Bright outlook for pet care
Pet care in Peru is expected to expand at strong rates of growth over the forecast period, as all the categories were still underdeveloped at the end of the review period. The main growth drivers will be the increasing demand for packaged food from all socioeconomic groups due to the rising awareness of these products’ nutritional benefits for pets, increasing disposable incomes and busier lifestyles. In response, manufacturers are expected to focus on developing more products with added-value ingredients, supporting their brands with marketing campaigns and improving their distribution networks.
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The Pet Care in Peru 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 Peru?
- What are the major brands in Peru?
- 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
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This industry report originates from Passport, our Pet Care market research database.