Both globally and locally, Pet Care industry players are increasingly releasing novel, innovative products and technology to meet specific Pet Care needs. Moreover, it is providing innovative ‘treats’ for consumers to spoil their pets, by catering to the ongoing pet humanisation trend of treating pets as members of the family.
Insight Survey’s latest South African Pet Care Industry Landscape Report 2022, carefully uncovers the global and local Pet Care market (including the impact of COVID-19), based on the latest intelligence and research. It describes the latest global and local market trends, innovation and technology, drivers and challenges, to present an objective insight into the South African Pet Care industry environment and its future.
In 2022, the value of the global Pet Care market is expected to reach approximately US$199.0 billion, and is forecast to grow at a compound annual growth rate (CAGR) of 6.1% until 2031. Therefore, the global Pet Care market is predicted to reach approximately US$338.5 billion in 2031, as illustrated in the graph below
Source: FMI Graphics by Insight Survey
In terms of the South African market, the local Pet Care market achieved growth of 7.7% year-on-year, in current prices, between 2020 and 2021. Moreover, the market is expected to grow at a CAGR of 6.6%, over the forecast period 2022* to 2026*.
This growth in both the global and local Pet Care markets can be attributed to the rise in innovation being experienced in the industry, with numerous market players ‘letting the cat out of the bag’ in terms of new products and technology that cater to specific Pet Care needs, as well as to spoil one’s pets.
For example, some global innovations catering to specific Pet Care needs include, Purina Pro Plan Veterinary Supplements’ recently launched Calming Care cat supplement range, which acts as an anxiety management option for cats that exhibit anxious behaviours.
Moreover, innovative products and services that allow pet owners to spoil their pets. This includes various mobile Pet Care grooming and veterinary services, such as Tughill Pet Grooming and Petco Health & Wellness Co. Inc, as well as various premium pet food products that provide human-grade food for pets, such as The Conscious Pet’s latest ‘DoggieBag’ product.
Other interesting global innovations that allow pet owners to spoil their pets include PetSmart’s new Arcadia Trail ‘Adventure-Ready’ outdoor pet accessories, that allow pet owners to create memorable outdoor adventures with their pets, as well as Trifo’s new Trifo Ollie robot vacuum cleaner, which allows pet owners to clean and entertain their pets while they are not home.
This trend of innovation has also gained momentum within the local market, with more South African Pet Care players pouncing on the opportunity to launch new and interesting products that cater to the specific needs of pets, as well as allowing pet owners to spoil their pets.
In terms of catering to specific pet needs, Hill’s Pet Nutrition recently expanded its Prescription Diet Pet Food range, with the launch of its new Hill’s Prescription Diet Derm Complete product, which is a dry dog food made specifically for allergies. Moreover, Feline Cuisine expanded its range of dry cat food, with a new Specialised Diet Weight Management product, aimed at improving the health of cats, by reducing fat.
Furthermore, Happy Hounds, in collaboration with Maltento, recently launched a new insect protein dog food range. This product has shown to be hypoallergenic and contain antimicrobial properties, as well as stimulate brain function and have anti-anxiety effects.
Key industry players are also launching a range of novel and interesting product innovations that allow pet owners to spoil their pets. For example, Woolworths extended its Fresh Pet range, with the addition of Pet Biscuit and Pet Cupcake mixes, made with human-grade ingredients and no preservatives, which allow consumers to spoil their dogs at home by baking and decorating unique and interesting pet treats.
The South African Pet Care Industry Landscape Report 2022 (180 pages) provides a dynamic synthesis of industry research, examining the local and global Pet Care industry (including the impact of COVID-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – market sizes and forecasts, industry trends, latest innovation and technology, key drivers and challenges, Pet Care value chain analysis (pet food suppliers and pet insurance providers), as well as a retailer and pricing analysis.
Some key questions the report will help you to answer:
- What are the key market dynamics of the global and South African Pet Care industry?
- What are the latest global and South African Pet Care industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the South African Pet Care industry (2016-2021) and forecasts (2022-2026), including the impact of COVID-19?
- Which are the key manufacturers, distributors, service providers and retail players across the South African Pet Care value chain (including Pet Food and Pet Insurance)?
- What are the prices of popular Pet Care brands and products (dry dog food, dry cat food, wet dog food, wet cat food, dog treats, and cat treats) across South African retail outlets?
Please note that the 180-page report is available for purchase for R37,500.00 (excluding VAT). Alternatively, individual sections can be purchased for R15,000.00 (excluding VAT). For additional information, contact us at firstname.lastname@example.org or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: South African Pet Care Industry Landscape Report 2022
About Insight Survey:
Insight Survey is a South African B2B market research company with more than 15 years of heritage, focusing on business-to-business (B2B) market research to ensure smarter, more-profitable business decisions are made with reduced investment risk.
We offer B2B and industry research solutions, to help you to successfully improve or expand your business, enter new markets, launch new products, or better understand your intern3al or external environment.
Our bespoke Competitive Business Intelligence Research can help give you the edge in a global marketplace, empowering your business to overcome industry challenges quickly and effectively, and enabling you to realise your potential and achieve your vision.
From strategic overviews of your business’s competitive environment, through to specific competitor profiles, our customised Competitive Intelligence Research is designed to meet your unique needs.
For more information, go to www.insightsurvey.co.za.