Abstract
The market for pet accessories and healthcare has grown by between 3% and 4% year-on-year since Mintel last reported on this market in 2006. Premiumisation and the need for convenience are driving value growth. The accessories sector is growing due to widespread innovation, steered by product naturalness, eco-friendliness, and beautifying treatments.
This growth has come principally from a number of small companies bursting with imaginative ideas to keep pet owners interested in the category. The healthcare sector is growing faster than accessories, and is dominated by large pharmagiants who invest heavily in their brands. De-regulation of some parasite control products, and greater access to products via online shops, has helped drive sales.
Pet ownership levels appear to be on the decline due to demographic changes, with the trend towards smaller single households, at the expense of families who tend to be traditional pet owners.
Key report themes:
- Owners have strong emotional ties to their pets, and treat them as one of the family
- Human standards of quality and acceptability are increasingly applied to pet care products
- Market growth has not been unduly hindered by decreased disposable income
- Premiumisation has helped sustain value growth in the market, and hence offsetting in the short term other adverse factors such as the trend towards smaller households
- Owners have health at the top of their agenda, and this, combined with greater accessibility to products following de-regulation, has led to a growth in the healthcare sector.
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