The Pet Industry contracted slightly in the great recession, but is poised to experience several points of growth this year, according to David Lummis, a leading analyst at PackagedFacts.
Here are some important sector trends for pet industry manufacturers, retailers and marketers to watch for in 2013:
1) Pet owners will spend less overall than in pre-recession years but more on organic food and other premium products.
2) Sales of ‘natural,’ or organic pet products are expected to increase; in 2011, sales of ‘super-premium’ dog food increased by 5.2 percent over 2010.
3) Sales of dog and cat treats will continue to climb, based on recent data: in 2010-2011, sales of treats at natural supermarkets increased by 12 percent. (SPINS, Inc.)
4) Premium-priced refrigerated pet food will continue growing in market share: During 2011, unit sales of frozen/refrigerated dog food rose 11 percent, with the comparable figure on the cat side at 44 percent. (SymphonyIRI.)
5) Sales of pet medications are expected to climb during the next five years, with annual percentage gains anticipated to increase from 7% in 2012 to 10% in 2015.
6) The ‘humanization’ of pets will continue to gain popularity among pet owners, with growing numbers of non-pet food manufacturers seeing increased sales in ‘high-style’ products such as dog and cat strollers, car seats, ‘cribs,’ and safety gates.
7) Pet owners are getting younger: in 2011, The 18-24 age group saw the largest increase growing by more than 14 percentage points, followed by the 25-34 age group, which grew by 6 percentage points.
8) Fewer households will own more than one pet: multiple-pet households have declined since 2006, falling from 38% of households to 34% in 2011.
But…..
9) More people are owning pets: From 2009 to 2011, the overall rate of pet ownership increased from 53.6 percent of U.S.households to 55.9 percent.
10) Generation Xers, those in the age range of 30-44, are expected to continue outpacing Baby Boomers and Seniors in pet ownership. In 2011, 30 million Gen Xers were pet owners, 5 million more than their Boomer elders.
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Cheers,
Amy Alexander
Writer/Sr. Content Manager
