Are 'pet families' helping to grow the pet care market in SA?

Insight Survey’s latest South African Pet Care Industry Landscape Report 2019 carefully unfolds the global and local pet care markets based on the latest information and research. It examines the market drivers and restraints as well as global and local market trends to present an objective insight into the current industry environment, market dynamics, and its future.

The global pet care market is expected to reach a value of approximately US$130.7 billion in 2019, and is dominated by the pet food segment. This segment has grown at a compound annual growth rate (CAGR) of 5.3% between 2011 and 2018 and was valued at US$98.3 billion in 2018.

The three largest global pet care markets collectively accounted for more than 80% of the overall pet care market in 2019, as illustrated in the graph below. North America accounted for approximately US$55.5 billion, Western Europe accounted for approximately US$30.9 billion, and Asia-Pacific accounted for approximately US$20.0 billion in 2019.

Source: Euromonitor; Graphics by Insight Survey

In contrast to global growth trends, the South African pet care market has witnessed marginal value sales growth over the past five years, and appears to have plateaued. The pet food segment (which comprises more than 90% of pet care market revenue) increased at a CAGR of just 1.9% between 2013 and 2018 in value terms, with a small decline in volume over the past two years.

Despite the poor market sales, many pet owners are investing more money in their pets and aligning their pet’s lifestyle with their own, in order to provide their pets with the highest quality products. Given this trend, pet owners’ focus on the quality of products has significantly increased in recent years, with product labels and ingredients being carefully scrutinised before purchase.

Pet owners are also spending more on pet insurance policies in South Africa, which is enabling pet owners to provide the best possible healthcare for their pets. A new trend that is gaining in popularity is ‘doga’ or dog yoga, further highlighting the focus on pet health and wellness. Dog yoga provides the opportunity for pet owners to spend time with their pets, whilst also providing the opportunity for the pets to interact with other pets. It has been shown that these classes help calm and relax pets as well as their owners.

With pets being treated as part of the family, it is becoming more crucial for key players to stay abreast of the latest developments within the industry, to ensure they meet pet owners’ dynamic needs in terms of food, health and wellness.

The South African Pet Care Industry Landscape Report 2019 (154 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 to retailing, market size trends, industry trends, industry drivers and challenges, and competitor and pricing analysis.

Some key questions the report will help you to answer:

• What are the market dynamics of the global pet care industry?
  
• What are the latest South African pet care industry trends, drivers, and restraints?
  
• What are the current market dynamics of the South African pet care industry? (market size, market value, market volumes: 2013-2018 Actual, 2019-2023 Forecasts, distribution channels)
  
• Who are the key manufacturing and retail players in the SA pet care industry?
  
• What are the prices of the most frequently purchased pet food brands across SA retail outlets and supermarkets?

Please note that the 154-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (021) 045-0202 or (010) 140-5756.

For a full brochure please go to: South African Pet Care Industry Landscape Report 2019.

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.