Pet care registers healthy retail value growth despite the economic slowdown
Due to the uncertain economic climate in 2012, consumers were more cautious about spending. However, the slowdown in the economy did not have a significant adverse impact on pet care as premium dog and cat food witnessed higher retail value sales growth compared with 2011. Instead of trading down to cheaper brands, pet owners were more willing to spend on quality and expensive food and other products for their animals. This trend can partly be attributed to the humanisation trend, which resulted in owners being more aware of their pets’ nutritional and psychological needs. Thus, they are increasingly likely to search for premium cat and dog food with health and wellness benefits, in order to ensure that their pets obtain the necessary nutrients.
Niche raw pet food gains traction among owners
The high penetration of internet access across the island and retailer- and brand manufacturer-led education have resulted in consumers being better informed about the type of pet food available in the market. Due to the rising affluence of local consumers, coupled with their high affection for their pets, raw pet food, an expensive yet healthy option, gained popularity in 2012. For instance, Sunday Pets, an exclusive brand at Pet Lovers Centre, offered freeze-dried dog food, which includes Raw Chow in beef and lamb flavours. Meanwhile, Addiction offers a range of raw dehydrated dog food, which includes Addiction Outback Kangaroo Feast and grain-free Fig’licious Venison Feast.
Private label gains retail value share amid a fragmented competitive landscape
Despite the influx of several premium and niche international brands from overseas, private label brands, such as Burp! and Trustie from Pet Lovers Centre, continued to improve their retail value share performances in 2012. With aggressive marketing promotions and attractive price discounts in retail outlets, Burp! gained retail value share in dog treats, as well as wet cat and dog food. Meanwhile, Trustie posted a strong improvement in retail value share in cat litter amid a fragmented competitive landscape in 2012.
Internet retailing offers variety and convenience
Due to the hectic lifestyles of consumers, a rising number of convenience-seeking consumers are turning to online purchases of pet food and pet products. This trend can also be attributed to the higher penetration of smartphones and faster internet speeds, which resulted in a move to online shopping. Leveraging on the growing popularity of internet retailing, a major chained pet shop and pet superstore, Pet Lovers Centre Pte Ltd, has revamped its online purchasing store, in order to improve user-friendliness. There are several popular online pet shops, which include Kohe Pets, Moo Moo Pets, Star Pets Hub and others.
Pet care expects healthy retail value growth over the forecast period
Over the forecast period, pet care is expected to post a higher constant value CAGR, compared to the review period. This can be attributed to the strong humanisation trend, as well as rising affluence and high willingness of pet owners to spend on premium pet food and pet products for their beloved animals. Pet food is predicted to register higher constant value growth, with dog treats recording the fastest CAGR over the forecast period. Similarly, pet products should see faster constant value growth, with pet dietary supplements posting the highest CAGR.
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Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Singapore with research from Euromonitor's team of in-country analysts.
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The Pet Care in Singapore 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 Singapore?
- What are the major brands in Singapore?
- 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.