In 2022, the pet care industry experienced another positive year, despite global disruption and inflationary pressures, albeit growing at a slower pace compared to previous years. Investment in online channels, as well as the increased digital presence of many brands, has led to a further increase in the distribution share for e-commerce. The retail landscape is changing, and consumers are looking for the best of both worlds within in-store and online retailing.
The global pet care market has shown years of strong growth, and was bolstered by the COVID-19 pandemic. With new pet owners and a larger pet population, the industry will continue to experience strong demand, albeit not growing at the same pace as in the review period. The higher level of care for pets, due to humanisation, is stimulating sales of premium brands.
With more home-centric lifestyles, e-commerce has become a key channel to purchase pet care products. Online shopping on personal electronic devices is increasingly straightforward. Improved infrastructure across regions has contributed to making home delivery the norm. With the greater influence of social media platforms, social commerce is advancing.
Subscription services is a business model that lends itself to repeat purchases with the least amount of effort. With a plethora of options in the US, pet owners have access to specialised premium subscription services that cater to pets’ specific dietary needs. Online retailers such as Zooplus and Chewy are now offering subscriptions.
Bricks-and-mortar stores remain key to the pet care industry, with modern grocery retailers and non-grocery specialists playing a pivotal role. Many specialists provide a holistic offering, including pet services such as grooming, training classes and specialist advice. High foot traffic in supermarkets and hypermarkets makes these significant channels for repeat purchases.
Disruption caused by the pandemic has been intensified by the war in Ukraine. Inflationary pressures are hitting multiple regions hard. With rising production costs, shortages of raw materials and decreased supply, economy options will be more attractive to consumers, as pet care products are likely to go up in price, potentially harming premium brands.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!