Canadian Pet Market Outlook, 2014

Canadian Pet Market Outlook, 2014

NEW YORK, Oct. 29, 2014 /PRNewswire/ -- While Canada did not suffer the economic fallout of the Great Recession to the same extent as the U.S., the country was not entirely immune, and the economy remains a concern for many Canadians. This has had a definite impact on the pet products market, and price remains an overriding factor for many pet owners when considering pet-related purchases. Still, pet owners have proven willing to go the extra mile for their furry friends, with premium products fueling much of the growth in the Canadian pet market over the past five years. Packaged Facts' proprietary survey of Canadian pet owners shows that the vast majority of pet owners are willing to spend more on products that support the health and happiness of their pets. This trend is borne out in the sales data. Canadian pet market sales have grown at a slow but steady pace over the past five years, hovering at a 4% rate, quite a feat for such a large, mature market. Another trend continuing to gain steam is the market emphasis on natural products, a thrust illustrated by M&A activity and the entry of industry heavy hitters into this market sphere, with companies ranging from Purina to Hill's Science Diet to Walmart focusing on natural products.

Pet health has proven to be a particularly attractive segment as well. As the Canadian pet population has aged, the market investment of big players such as Bayer and Perrigo has increased. The Canadian pet healthcare industry was particularly impacted by VCA Antech's 2012 acquisition of Canada's largest animal hospital chain, Associate Veterinary Clinics. In a related vein, a number of studies substantiate the positive impact pets have on human health, a concept that could energize the pet industry overall if utilized as a marketing tool. Both trends are fueled by the mentality that pets are part of the family, resulting in the continuing humanization of pets products and services, with manufacturers and retailers introducing everything from human-style food to couture pet accessories. Helping to perpetuate this trend is the media, via frequent news coverage and pet-themed network programming.

Combining Packaged Facts' extensive monitoring of the pet market with an exclusive pet owner survey, Canadian Pet Market Outlook, 2014 is the go-to source for a complete understanding of the Canadian pet industry. In its first Canadian edition, 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, nonfood pet supplies, and non-medical pet services (grooming, boarding, training, etc.). Building on the market tracking, forecasting, and analysis of U.S. editions, the report forecasts market size and growth for each category, examines new product activity, surveys retail channel trends, and analyzes trends and shifts in the needs of today's pet parents. The report tabulates pet product sales and market penetration using data from sources including the Pet Industry Joint Advisory Council of Canada (PIJAC Canada) and Statistics Canada, as well as Packaged Facts' exclusive 2013 survey data. The report contains dozens of numerical tables and charts, as well as numerous photographs of new products and in-store promotional and merchandising initiatives across key channels.

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