Pet care continues growing at fast rates
In 2013, pet care remained a fast-growing market in Peru, with demand being boosted by a rising desire to pamper pets as well as provide them with the best possible care in order to contribute to their wellbeing and extend their lifespan. As a result, middle-income consumers are increasingly opting for pet food that contains added-value ingredients and increasing their expenditure on pet products, particularly cat litter and other pet products. In addition, the busier lifestyles of people living in urban areas mean that they are gradually turning towards prepared pet food over table scraps, which is also driving sales of pet food.
Strong competition limits unit price movements in pet food
Tight competition among leading players will see prices of dog food and cat food remain quite stable during 2014. This stability will be especially observed among economy-priced and mid-priced dry food, both for dogs and cats, where any significant price increase could determine that a player loses value share, as most consumers would opt to switch to another economy-priced brand or mid-priced brand that offers similar nutritional benefits.
Multinational Molitalia SA becomes more aggressive in its fight for value share
By the end of 2013, multinational Molitalia SA purchased the dog food business of local company Alicorp SAA. This move determined that the international player jumped to second position in the company rankings, in terms of value shares of dog food, in 2013. In addition, the company is strongly improving its distribution, with its brands increasing their availability within both modern and traditional grocery retailers, and carrying attractive prices to appeal to a larger consumer base.
Traditional grocery retailers continues to lead sales
Traditional grocery retailers, represented by other grocery retailers (market stalls) and independent small grocers, remains the most popular distribution channel for dog and cat food in Peru. This advantageous position is explained by the fact that the channel’s outlets have a good range of economy and mid-priced brands, which are sold in bulk, which in turn allows most consumers to make purchases within their budgets. In addition, traditional grocery retailers provide convenience to urban consumers, thanks to being located near to consumers living in urban areas.
Promising outlook for pet care
Pet care in Peru is expected to continue developing at strong rates of growth over the forecast period. There is still a lot of room for more consumers to switch from unprepared food to packaged food for their pets. In addition, a rising demand for functional products is expected, as these are perceived to better respond to a pet’s needs in terms of health and nutrition. In response, manufacturers will continue to prioritise launching added-value products and support them with marketing campaigns to raise awareness about their advantages.
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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?
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.