On the back of the humanisation and premiumisation trends, gadgets that offer convenience are expected to do well in the forecast period as pet owners turn towards technology to enhance both their lives and their pets’ wellbeing. These gadgets are primarily aimed at time-poor pet owners who may not have the time to interact, play with or feed their pets during the day.
Consistent with the health and wellbeing trend, more pet owners are investing time and money to ensure that their pets get the best healthcare possible. Pet owners are increasingly turning to the advice of vets to maintain their pets’ health.
The growing importance of omnichannel marketing has been seen in the pet care industry, especially for pet products that are traditionally mainly sold through pet stores. Time-poor and tech-savvy consumers are gradually adopting online shopping, propelling the growth of internet retailers.
Bayer New Zealand Ltd and Merial Ancare Ltd continue to dominate pet healthcare. With the continued popularity of flea treatments and price increases due to increasing demand, it is expected that brands under the portfolio of Bayer New Zealand Ltd, such as Advocate, Drontal, and Advantage, will continue to hold a large share of pet healthcare sales as pet owners highly trust these established brands.
Despite its gradual shift in focus towards cats and dogs, Masterpet retains the top position when it comes to pet products. However, local companies such as Petware Ltd and Pet Zone Ltd are consistently growing year on year, maintaining their respective positions in the top five of pet products overall.
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This industry report originates from Passport, our Pet Care market research database.