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The UK pet products market has been forecast to keep on growing at an estimated compound annual growth rate (CAGR) of 10% in constant value terms through to 2016, to reach a market value in excess of £826 million.
Pet products are a big business. Despite the economic downturn, global sales of cat and dog products continue to grow. The strength of the pet products market is not difficult to understand; almost 1 in 2 UK households includes a pet, with UK dog and cat populations estimated to be around 8 million each.
With a 33% share and sales reaching £232 million in 2011, private label products continue to lead the United Kingdom pet products market after very slow growth of under 2%. They are increasingly offering wider and more attractive ranges to pet owners in order to compete more effectively at all levels with branded products.
Pets at Home increased its market share by 4% in 2011, which is twice as much as overall average private label, mainly thanks to outlet expansion, to more than 20 in 2011. Its brand share being negligible in healthcare products and dietary supplements, the company achieved this growth thanks to cat litter and other pet products.
The Bob Martin Co recorded a retail value share of 30% with sales of £216 million in 2011, nearly £8 million more than in 2010. The company, particularly strong in healthcare and dietary supplements, enjoys a strong client base and has continued to develop new products to meet the growing needs of pets whilst ensuring that its brands are convenient and easy to use. Bob Martin has promoted itself further by setting up a new website called Petshealthcare.com which aims to provide specific advice for pet owners and helps to diagnose and treat less complex problems.
As the overall pet population continues to expand, consumers continue to demand the best products they can afford for their pets and manufacturers continue to innovate, providing the opportunity for higher price points.
For more information on the UK pet products market, see the latest research: UK Pet Products Market
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