Pet care registers stable growth in 2013
In 2013, the Singaporean economy achieved growth with GDP growing by 3%. As a result of this healthy growth, pet care registered stable value growth of 4%. Due to their increased purchasing power as well as the increasing trend of humanisation of pets, pet owners have become willing to spend more on their pets and to purchase more premium pet care products such as premium dog and cat food, pet dietary supplements, pet health care and pet grooming products.
Impact of enforcement of new regulations in pet care
2014 has witnessed the introduction of new regulations by the Agri-Food Veterinary Authority. Under these regulations, pet retailers are not permitted to sell dogs, cats, or rabbits to anyone below 16 years of age unless they are accompanied by their parents or legal guardian. Before selling a pet, pet retailers are also obliged to assess the suitability of customers as pet owners in order to ensure that they will be responsible pet owners. These new regulations have been implemented in order to prevent impulse pet purchases as there were many animal cruelty cases reported in Singapore over the review period. This is expected to affect the growth of the pet population in Singapore and thus to also have a negative impact on the performance of pet care in 2014.
Mars Foods Inc maintains its leading position in pet care in 2013
Mars Foods Inc was the leading player in pet care, with a retail value share of 17%, in 2013. The company’s strength is attributed to the strong recognition of its brands such as Pedigree, Whiskas, Cesar and Royal Canin. These brands have an established and prominent position in Singapore. Pedigree and Whiskas are mid-priced brands while Cesar and Royal Canin are premium brands. Due to the growing popularity of premium pet food, the company has aggressively promoted its Royal Canin brand by extending its product range. This has been well supported by pet owners in Singapore.
Pet shops maintains its strong retail value share of pet food in 2013
Pet shops remained the leading distribution channel of pet food in 2013, accounting for a retail value share of 66%. The retail value share of pet shops increased gradually over the review period. This was mainly due to the strong presence of major pet shops, such as Pet Lovers Centre and Pet Station, which are highly accessible and in which a wide selection of products is available. On the other hand, supermarkets was the second leading distribution channel of pet food, accounting for a retail value share of 16%, in 2013. However, supermarkets suffered a decrease in share over the review period. While many pet owners have chosen to purchase more premium products, supermarkets offers mainly economy and mid-priced products. As a result, the retail value share and competitiveness of supermarkets have suffered.
Pet care is expected to achieve healthy growth over the forecast period
Pet care is expected to register a higher value CAGR (at constant 2014 prices) over the forecast period than it did over the review period. The pet population is expected to decrease due to the new regulations that have been enforced in 2014. This factor is expected to affect the retail volume growth of pet food. However, with pet owners increasingly switching to premium pet care products, this is expected to have a positive impact on value growth (at constant 2014 prices) over the forecast period.
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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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This industry report originates from Passport, our Pet Care market research database.