Global Pet Care Retail Market Continues Growth
Euromonitor International’s Pet Care 2011 edition publishes 1 June 2010. Global pet care retail value sales continued to grow in 2009 despite the continued uncertainty in the global economic environment. Major markets like the US, Japan and most of Western Europe maintained respectable retail value gains as pet food reinforced itself as an essential item for consumers. Pet humanisation – and with it premiumisation and health and wellness trends – continue to spread to developing markets.
Robust growth in emerging markets
The global market for pet care continues to grow, driven mainly by exceptional performance in a number of emerging markets like India, Thailand and Saudi Arabia. Increased consumer awareness of the benefits of prepared food, as well as rising incomes, will continue to fuel growth in these developing markets.
Strong performance for dog food and healthcare products
Dog food and pet healthcare products were among the best-performing categories during 2009 and 2010. This is largely attributed to rising dog ownership and consumer migration to prepared food. Healthcare has also become a necessity for pet owners to help their pets maintain good health.