Owners’ focus on pet wellbeing is increasingly expanding its influence beyond food, with many increasingly keen to ensure that their pets have the happiest and healthiest lives possible.
The pet humanisation trend and rising disposable incomes are encouraging pet owners to become more adventurous when buying pet products, with this in turn encouraging innovation from players within this area. Furniture for pets notably began to emerge towards the end of the review period, not only offering comfort for pets but also offering stylish and modern designs and thus appealing as an element of home décor.
The range of products and services for pets is widening, supported by the growing preference for smaller animals, such as cats, small and medium dogs and small mammals. These smaller pets tend to see stronger spending on pet products, partly due to being viewed as cherished companions but also due to lower maintenance costs in comparison to larger pets in terms of food consumption.
Química Farmacéutica Bayer continued to lead a fragmented competitive environment in 2018. The company led the fast-growing pet healthcare and pet dietary supplements categories, which benefited from rising health awareness and disposable income levels among owners, in addition to an increasingly proactive approach to maintaining pet health.
Within pet products, private label is most visible in cat litter and “other” pet products. Improving economic conditions, including higher disposable incomes, saw a shift to brands towards the end of the review period.
The pet humanisation trend is resulting in widening demand for more specialised and lifestyle products, benefiting a wide range of areas including clothing, toys, accessories, pet healthcare, pet dietary supplements and beauty products such as shampoos. Consumers are increasingly interested in design-focused pet accessories, specialised healthcare and dietary supplements and value-added products in general, with this encouraging the launch of a widening range of options and new entrants.
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This industry report originates from Passport, our Pet Care market research database.