The rapid urbanization and connectivity programs in these economies are boosting the market growth envisaged through online mediums. Owning a pet, focusing and spending on its care, is seen as a mark of social status and sensitivity, further, acting as an important market driver. The unreliability of local goods, as indicated by the recent reports and scandals, has forced buyers to rely on foreign goods. These goods are available through the e-commerce, thus, boosting the pet food sales. Often, market campaigns shift the focus of consumers towards commercial foods from the conventional leftovers of human food that used to feed pets. The high internet connectivity is boosting the use on e-commerce sites, as an effective distribution channel. The notions of convenience, affluence or exclusivity, safety and market awareness play a critical role in the developing countries, for the growth of pet utility products. Their late embrace of the market connectivity in the minor markets of small economies, like Vietnam, Thailand, etc. is because of the infrastructure lag and almost negligible product awareness. However, these countries offer the nascent market advantages of low regulations and competition.
The increased income and urbanization have directly affected the pet population. Particularly, the demand from developing countries, coupled with the changing lifestyles, is accelerating the market growth. The changing perception of consumers, towards pet health, is another major reason accelerating the global pet food market growth. Moreover, the demand has grown significantly due to the increasing trend of nuclear families, where consumers usually treat pets as a family member and are concerned about their lifestyle, eating habits and health. The concept of pet humanization, where pets are treated with increased hygiene and care, is another major driver for the market growth and, in turn, is boosting major changes in product packing and resourcing of ethically-viable products.
The number of households is witnessing an encouraging uptick in terms of dog and cat ownerships. Currently, 45 million of the US households own dogs and 30 million own cats. As the dog population has increased with the rising trend of pet humanization, it has also boosted the sales of pet care products to a significant extent in the country. A higher percentage of the US households have small dogs compared to medium dogs or large dogs, with the shares of 52%, 32% and 42%, respectively. The percentage of pet owners with small and large dogs has increased as well, while those with medium dogs are at a steady pace. The shift to smaller dogs is projected to continue, during the forecast period, with the aging human population as a key driver for the demand growth. Moreover, the shift to smaller dogs might have numerous ramifications for the US pet market. As the smaller dogs consume less, it might be harder for the pet food marketers to buck up the sales volume. Meanwhile, size- and breed-specific foods should help to pick up any dollar slack. The angle brands such as Mars' Cesar and Royal Canin have been working successfully for many years. Considering non-food pet supplies, the smaller dog shift denotes opportunities in myriad indoor products, including crates and kennels, training pads, pet beds and pet odor prevention/removal and clean-up products.
The high internet connectivity is boosting the use on e-commerce sites, as an effective distribution channel. Expenditure on pets is increasing, globally, and in many regions, e-commerce sales growth in the pet category is outpacing, both, total category sales growth and total e-commerce growth. In this report, we analyzed some of the leading pet e-commerce companies in the United States and selected international markets. As the pets solidify their spots as family members in the numerous households, technology has become an increasingly important way for consumers to gain information and take care of their pets. Pet food is among the several pet care segments affected by this trend. The desire to access a wider variety of options, especially in developing markets and the convenience trend prevalent in the shopping patterns of consumers, have made the online pet food purchasing witness an increasing growth and continue its upward trajectory. The purchase of pet products online was 42% in 2016 and about one-third of the pet owners bought pet products through the internet. Specifically, pet medications sales have been affected by the consumer shift in purchasing pet products online. Due to their small size and low shipping costs, pet medications are well suited for sale through the Internet, which has become an excellent medium for delivering the information needed by the consumers to make best product choices. Internet-based retailers offer everything from flea/tick products to prescription NSAIDs, forcing individual veterinarians to compete for sales with organizations with substantial buying clout.
Major Key Player : IRIS USA, NITE IZE, COSTAL PET PRODUCTS INC., K & H PET PRODUCTS amongst others.
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- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
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1.1. Research Methodology
1.2. General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Forecast Model
3. Key Findings Of The Study
4. Executive Summary
5. Market Overview And Technology Trends
5.1 Current Market Scenario
5.2 Technology Trends
5.3 Porter's Five Forces Framework
5.3.1 Bargaining Power Of Suppliers
5.3.2 Bargaining Power Of Consumers
5.3.3 Threat Of New Entrants
5.3.4 Threat Of Substitute Products And Services
5.3.5 Competitive Rivalry Within The Industry
6. Market Dynamics
7. Global Pet Utility Products Market, By Product Type
7.1 Pet Collars
7.3 Feeding Accessories
8. Global Pet Utility Products Market, By Animal Type
9. Global Pet Utility Product Market, By Geography Type
9.1 North America
9.3 Asia Pacific
9.4 South America
9.5 Middle East & Africa
10. Competitive Landscape
10.2 Market Share Analysis
10.3 Strategies And Developments Of Key Players
11. Key Vendor Analysis
11.1 Iris Usa Inc.
11.2 Advanced Pet Products
11.3 Costal Pet Products Inc.
11.4 Nite Ize
11.5 K & H Pet Products
11.6 Kt Manufactureing
11.7 Scott Pet
11.8 Platinum Pets
11.10 Pet Products Innovations. Llc
12. Future Outlook Of The Market