News Pet Market Grows Especially Online

Search
Directory

NEWS

Pet market grows – especially online
30th April 2021

By Karen Pickwick

Global pet care sales soared by 8.7% in 2020, with pet food, accessories, beauty and grooming categories benefiting the most from the pandemic with growth of 8.1%, 10.3% and 11.3%, respectively.

And the industry expects this trend to continue, predicting a 7% growth by 2026, according to global market research company Euromonitor International. But much of this increase is down to the increase in online sales.

According to a new webinar, ‘Pet Care Outlook: Which Trends Will Outlast the Pandemic?’, digitalisation is one of the trends that will continue to dominate the pet care market in the next five years.

“The pandemic accelerated ongoing channel shifts to e-commerce as owners avoided unnecessary trips to pet specialty channels,” said Jared Koerten, senior head of pet care research at Euromonitor International.

ACCELERATING TRENDS

The premiumisation trend accelerated in 2020, seeing owners spending more per pet, due to significant spending cuts on travel and dining out. Australasia spent the most on food per dog and cat in 2020 (around US $275), followed by North America ($211) and Western Europe ($182 or £130).

A larger pet population combined with higher income households willing to spend more also paved the way for premiumisation, shaping a new base of pet owners, Euromonitor says.

“Pet ownership surged in North America, Western Europe and Australasia that had long seen sluggish pet population growth, but suddenly outperformed historic averages,” Jared said.

With remote work policies spreading beyond 2021, it is expected that more people will acquire pets. Time spent at home will enhance humanisation, as nearly 71% of global respondents from Euromonitor’s Lifestyles survey mentioned viewing pets as ‘beloved members of the family’ in 2021.