DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/jfkvtn/u_s_pet_market) has announced the addition of the "U.S. Pet Market Outlook, 2013-2014" report to their offering.
While the country has not yet completely emerged from its economic funk, the pet industry continues to chug along. Pet product shoppers were not immune to the Recession's effects, but the most recent Packaged Facts' proprietary Pet Owners Survey shows that they are becoming less price sensitive than in years past. And this trend is borne out in the sales data. Sales in mass channels such as grocery stores have been relatively flat, but pet owners have continued to migrate to pet specialty channels, which focus more on the high-end market.
Another trend continuing to gain steam has been the pet industry's emphasis on natural products, as seen in M&A activity (e.g., Merrick acquiring Castor & Pollux and Del Monte acquiring Natural Balance) and the embrace by industry heavy hitters from Purina to Hill's Science Diet to Walmart.
Pet health has proven to be a particularly attractive category. As the pet population has aged, the interest by big players such as Bayer and Perrigo has increased. One deal that received considerable investor attention was Pfizer's spinoff of its animal health division, which it renamed Zoetis.
The industry has embarked on a number of initiatives to spur growth in pet ownership and some of those are beginning to pay dividends. These include programs such as the Human Animal Bond Research Initiative and the Pets in the Classroom initiative, which is introducing pet ownership to youth to encourage future ownership. Indeed, pet ownership among Gen Y jumped to its highest level in years in 2012.
The humanization of pets continues as a strong trend, with manufacturers and retailers introducing everything from human-style food to pet temporary tattoos. And the media is feeding the frenzy, giving pets their own TV channel and focusing on the outlandish things pet parents will do for them.
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Market Trends
Chapter 3: Industry Trends
Chapter 4: Retail Trends
Chapter 5: Pet Ownership Trends
For more information visit http://www.researchandmarkets.com/research/jfkvtn/u_s_pet_market