Is pet 'parenting' driving SA industry growth?

Insight Survey’s latest SA Pet Care Industry Landscape Report 2018 discusses the global and local pet care markets based on the latest information and research. It examines the market drivers and challenges, as well as global and local market trends to present an objective insight into the environment, market dynamics and future of the South African pet care industry.

Globally, pet care product sales were valued at US$109 billion in 2017, experiencing low growth of just 14% between 2012 and 2017. North America remained the largest market with a value of US$48.8 billion and 40% of the global market share.

Source: Statista; Graphics by Insight Survey

By comparison, the South African pet care market, which is largely dominated by pet food, continues to show value growth. Despite the challenging economy, the retail value in the pet care market increased between 2012 and 2017, with a compound annual growth rate (CAGR) of 8.1% over the period. However, pet food volumes have plateaued over the past five years.

The trends of humanisation and premiumisation have considerable influences on both the pet care and pet food choices of South African consumers. Consumers are now more discerning about the food they choose to purchase for their pet family members than in the past. They are also more informed and aware of the multiple pet food options available to them in in the marketplace.

Pet food brands are now focusing more on the health benefits that their products offer pets. For example, Raw Love Pets advocates that specie-appropriate diets for both dogs and cats should be predominately meat-based and high in animal proteins, very low in carbohydrates and free of grains. They also suggest that species appropriate raw food is best as it contains a lot of moisture and nutrients that assist the body to operate optimally and remain healthy.

The trend of humanisation in pet care also has an influence on developments in the South African hospitality industry. Dale Simpson, curator of Radisson Red Hotel V&A Waterfront, claims that the market of devoted pet owners in South Africa continues to expand and that the hospitality industry will have to either progress to cater to it or sacrifice an increasing number of potential guests. “More and more pet-parents are insisting that their fur-children be allowed to vacation too.” Although the international hospitality industry has been rather quick to respond to the changing needs of pet owners, pet-friendly accommodation options, especially in terms of luxury accommodation, are still rather limited in South Africa.

It is evident that the importance of fur family members in South Africa will simply continue to increase in the future and influence the buying behaviour and preferences of consumers. To successfully compete in this capricious industry, it is essential that key players have a comprehensive understanding of the recent market developments and trends.

The South African Pet Care Industry Landscape Report 2018 (141 pages) provides a dynamic synthesis of industry research, examining the local and global pet care industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing and importing to retailing, sustainability, pricing analysis, consumption and purchasing trends.

Some key questions the report will help you to answer:

• What are the key factors that are driving the growth of the local and global markets?
  
• What are the latest South African pet care industry trends, drivers, and restraints?
  
• Who are the key pet food (dog and cat) manufacturing players in the SA pet care industry?
  
• Who are the key players in the SA pet care industry for: pet healthcare, pet insurance, pet accessories?
  
• Who are the key retail players (pet shops, retail stores, independent, online and franchise pet stores) in the SA pet care industry?
  
• What are the prices of popular pet food brands across South African retail outlets?

Please note that the 141-page report is available for purchase for R25,000 (excluding VAT). Alternatively, individual sections can be purchased for R9,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (0)21 045-0202.

For a full brochure please go to: South African Pet Care Industry Landscape Report 2018.

About Insight Survey:

Insight Survey is a South African B2B market research company with almost 10 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 market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal 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.