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Pet products and the market
Market research shows that pet products, by themselves, do not account for 90% of the retail market: pet food, grooming and other products accounted for more than 25-30% in the market and pet medicines, which include vaccines, a treatment for chronic diseases, and even treatment for allergic reactions made up more than 20%.
Pet markets generally are segmented according to their geographic and demographic characteristics. The largest segment is urban, with around 50% market share of the market, compared to more than 25% for most major markets (see ‘Top 10 pet markets’). The other segments are suburban, where a few pet food and grooming companies have been developing the market, and rural areas, where many pet products are used for subsistence living, such as in small rural communities. The US market accounts for about 15% of the pet industry, accounting for the vast majority of products worldwide. Asia has the highest share of the pet products market (14%), followed by the UK with 6% (the highest share outside of Europe and Asia). The Asian markets account for about 7% of the worldwide pet products market and Australia, New Zealand and parts of Europe account for more than half of the worldwide market size (see ‘Pet products market by region’). Some of the major brands in the market are PetSmart (2.6% market share), Purina (3.3%), and PetCare (10%), with another five leading the retail cat food segment (Purina, Kellogg’s Kibble and Pinnacle PetCare) and the pet care segment (PetSafe, Nutritional Shakes) (see also ‘Pet products and consumer pet care’).
Pet products market size and impact
Pet products have proven effective in achieving commercial success in the pet products market since they started to gain traction in the mid- to late 1990s with a growing trend to include all kinds of products with the exception of medical items (see ‘Pet products, commercial and consumer’). The number of pet food, grooming and pharmaceutical companies offering pet products has grown exponentially since the 1990s (see ‘Trends in the pet products market’). They are now present in about 80% of the pet food and grooming brands in the market and about 35% in the pet medicines. The pet food and beauty segment has reached a size of more than 70% of the global pet products market, the pet medicines segment more than 25% as a proportion of the overall pet products market, and the
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