"As the economy improves, so should all things pet, but that recovery continues to appear modest," says David Lummis, senior pet market analyst for Packaged Facts. "Spending on supplements will increase but ‘restraint’ will likely continue to characterize how pet owners shop and what they buy during 2011 and even 2012, making value appeals based on pet health, safety, professionalism, practicality, and yes, pricing, more important than ever."
Packaged Facts estimates total U.S. retail sales of pet supplements and nutraceutical treats at more than $1 billion in 2010, reflecting a compound annual growth rate (CAGR) of 4% during the five–year period beginning in 2006. Sales growth stalled in 2009 and 2010 as the recession took hold and held on, a slow–down attributable almost entirely to a downturn on the equine side. As a result, the small animal category–including products for dogs and cats–gained ground between 2006 and 2010, increasing from 45% to 52% of the market and surpassing equine as the larger category last year.
U.S. retail sales of pet supplements and nutraceutical treats are expected to begin to pick back up in 2011, with the annual sales growth regaining steam through 2015. By this account, the annual percentage increases will rise from more than 2% in 2011 to almost 7% in 2015, lifting sales to an estimated $2 billion. Growth will be considerably faster on the small animal side than on the equine side. For both animal classifications, the pace will be faster in nutraceutical treats, which will continue to gain ground because of their indulgence advantage and a steady influx of more heavily marketed products. Ultimately, small animals will account for 58% of the market by 2015.
Pet Supplements and Nutraceutical Treats in the U.S., 3rd Edition segments the market into two categories–supplements and nutraceutical treats (i.e., those containing supplements or novel botanical ingredients addressing specific health conditions, such as glucosamine for joint health)–with a primary focus on products for dogs and cats, but also extending to horses and other types of companion animals including birds, small mammals, and reptiles. The report provides a forward–looking examination of the market from every angle, including breakouts by supplement type and retail channel, analysis of the complex and evolving regulatory situation, competitive structure and marketing trends, new product tracking, and consumer profiling. For further information, please visit: http://www.packagedfacts.com/Pet-Supplements-Nutraceutical-2588715/.
About Packaged Facts —Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook, LinkedIn and Twitter.