The U.S. pet industry has long been rife with opportunity and dynamism, but the market is now reconfiguring at such a dizzying pace it's hard to keep up, much less lead the pack. With its focus keenly on what's next and bringing to bear decades of pet market perspective and analysis-this cross-category report is packed with quantitative and qualitative projections crafted to help pet product makers, marketers, retailers, service providers, and investors do just that.
U.S. Pet Market Outlook, 2018-2019 is the go-to source for a complete understanding of the U.S. pet industry. The report evaluates current trends and future directions for marketing and retailing, along with consumer patterns across the full spectrum of the market, including veterinary services, pet food, non-food pet supplies, and non-medical pet services (grooming, boarding, training, etc.).
U.S. Pet Market Outlook, 2018-2019 forecasts market size and growth for each category (2018-2022); examines new product activity; surveys retail channel trends including cross-channel shopping vs. shopper loyalty; and analyzes trends and shifts in the needs of today's pet parents. The report tabulates pet product sales channel by channel and projects channel shares through 2022.
E-commerce is challenging most market norms, and the Internet more broadly is transforming the rest, such that bold steps are required.
As a result, innovation is at an all-time high, reshaping the market to the core:
- General Mills is taking drastic steps to reverse sales declines attributable largely to the shrinking center store and consumers' increased focus on healthier foods, joining other massive food companies doing much the same in the pet market including Nestle Purina, Mars, and J.M. Smucker. Overnight, via its February 2018 acquisition of Blue Buffalo, General Mills is the pet food powerhouse to watch.
- The industry's largest retailers are realigning as omni-channel operators via acquisitions (PetSmart buys Chewy, Walmart buys Jet) and initiatives designed to integrate brick-and-mortar and e-commerce while building out both.
- Pet specialty big boxes, grocers, and mass merchandisers are implementing new forms of order fulfilment including click-and-collect (online ordering coupled with in-store pickup) and same-day last-mile home delivery, even if it means acquiring their own shipping company (Target buys Shipt).
- The top pet specialty retailers are emphasizing smaller store formats (PetSmart launches Groomery, Petco proceeds with Unleashed) and expanding petcare services (Petco adds Thrive complete veterinary services).
- Marketers are teaming up with or acquiring service providers to better meet pet owners' needs 360 (Mars buys Whistle and VCA, Inc., Petco buys PetCoach, PupBox, and Petisurance.quotes.com, and helps fund Rover).
- Marketers are re-evaluating channel loyalties in terms of brand exclusivity, pole-vaulting across the pet specialty/mass divide (Nature's Recipe and Blue go mass), and introducing pet-specialty-type products created specifically for mass (Mars launches Crave).
- Products are incorporating service functions such as automatic feeding and litter scooping, the ability to reorder supplies automatically via the Internet, and features that allow pet owners communicate with their pets and vice versa.
- Tracking devices and monitors are letting pet owners track via smartphone not just the location of their pet but also its vitals, and to interact directly with veterinarians and other pet-care service providers.
- Uber-like, smartphone-app-based services are taking by storm pet sitting/dog walking and pet boarding (Rover, Wag!).
- Amazon is (still) making everyone nervous, reaffirming its commitment to pet by implementing robotics innovations in its warehouses to facilitate the handling of pet food and litter, letting shoppers create their own Pet Profile pages, aiming to become a pet information resource, and possibly launching its own UPS-like shipping service.
Key Topics Covered:
1. Executive Summary
- Market Trends
- Industry Trends
- Retail Trends
- Pet Ownership Trends
- Sales Growth Opportunities
2. Market Trends
- Chapter Highlights
- Market Drivers
3. Industry Trends
- Chapter Highlights
- Pet Food
- Nonfood Pet Supplies
- Veterinary Services
- Non-Medical Petcare Services
4. Retail Trends5. Pet Ownership Trends
- Chapter Highlights
- Pet Ownership Rates by Age Bracket
- A Third of Pet Households Keep Different Types
- Good News on the Boomer Front
- Millennials: A Market Altering Force of Their Own
- Two-Adult Households with Kids Account for One-Third of Pet Owners
- Pet Ownership Grows Among Minorities
- Best Friends Pet Care
- General Mills
- J.M. Smucker
- Nestle Purina
For more information about this report visit https://www.researchandmarkets.com/research/wphq5n/united_states_pet?w=4