Published on : Oct 25, 2016
ALBANY, NY, Oct 25, 2016: The report description includes the scope of the pet care market in the U.K. and the research methodology used to compile the study. The next section is the executive summary, comprising the market size of the pet care industry in the U.K. The market overview section includes key market dynamics such as drivers, restraints, opportunities, and trends impacting the industry. The study discusses the future outlook of the pet care market in the U.K. and the value chain analysis. The last section discusses the competitive landscape in detail, including market shares of key players, strategies implemented by them, business and financial overview of companies, and their recent developments.
The trend of humanization of pets is steadily gaining momentum and is one of the key factors behind the growth of the UK pet care market. As pet owners are more than willing to spend on new luxuries for their pets including clothing, gadgets, bedding, specialized food, and healthcare items, the pet care market will continue to grow. Even with constrained budgets, pet owners are largely interested in providing high quality products for their pets. Thus, there is a high demand for quality pet care products at reasonable prices. In addition to this, products with added functionalities and healthier ingredients are gaining popularity among owners. Concerns about sources of ingredients used in pet food are driving the demand for organic and all natural food products.
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Factors impeding the growth of the U.K. pet care market include restrictions from landlords on having pets and lack of physical space. The increase in the population and rising prices of houses have led to a growing number of people renting smaller homes, making it difficult to own a pet. The high expenditure involved in keeping a pet will also restrict the growth of the pet care market. In addition to this, product recalls owing to safety issues will be another factor inhibiting the growth of the U.K. pet care market.
According to the report, the pet accessories segment is likely to be worth US$643 mn in 2016, exhibiting a 13% CAGR from 2011 to 2016. This makes it the fastest growing category in the pet care sector. By medium of purchase, the online channel is expected to account for 10% of the total pet care market in 2016. The increase in online purchases is due to the prevalence of discounts for bulk purchases and home delivery.
The demand for pet food that is grain-free, with low-glycemic content is growing, and this is forcing pet care manufacturers to formulate new products and meet demands of pet owners. The introduction of supplements and probiotics for pets is a trend that is likely to stay in the coming years. Innovations in pet food will also aid the growth of the U.K. pet care market.
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