Analyst Insight by Paula Flores - Head of Pet Care Research
Euromonitor International is pleased to announce that the new 2015 Pet Care edition is now live and available to access on Passport. The updated research provides latest insights on how the pet care industry is expected to perform in 2014 and identifies the key prospects through to 2019.
Key Research Highlights
Overall, good growth is expected in 2014, at 3% in global value terms, similar to that experienced in 2013. This good performance is the result of the increasing contribution of emerging markets, particularly Brazil, Mexico and, to some extent, China.
Unsurprisingly, the US remains the largest market and one of the most developed pet care markets. However, trading conditions are becoming increasingly difficult as competition gets fiercer. The recent acquisition of Procter & Gamble’s pet care part of the business by Mars will add a new edge in 2014.
Some of the fastest growing markets in 2014 are expected to be Peru, Saudi Arabia, India and Thailand. These offer great potential to be explored, as more consumers increasingly humanise their pets.