pets market
Product feasibility
In recent years, since people are greatly satisfied in material life, pet ownership has become an increasingly common phenomenon.
The data shows that cats and dogs are the most ideal companion among animals, because they express kindness to humans in unspoken ways, and they make humans feel respected, admired and needed.
Also, there are some other reasons which make pets become more and more important in the social society,for example,the Improvement of medical level,which can make sure pets’ safty more guaranteed.
“World pet markets are growing at a dramatic rate, with a number of countries witnessing higher than ever pet ownership and spending.
While the U.S. (where pet spending totaled $55.72 billion for 2013) and U.K. have long been the leaders of the world pet market, a number of other countries are emerging as global pet forces with which to be reckoned. In fact, worldwide sales of pet-related products and services reached $81 billion in 2010 despite the global recession.
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Industry insiders attribute the growing world pet market to the global humanization of pets.This means that more and more cultures now regard companion animals as beloved family members.
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And also,except the US and the UK,here are some of the hot, up-and-coming world pet markets.
What is the pet industry?
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As of 2015, 65% of households in the US own at least one pet, and the pet industry is made up of the products and services that keep these pets alive, healthy and happy – food, toys, daycare, training, beds, cages, medical services and a lot more.
What are the best opportunities?
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Hands down, niche or specialty offerings. Among some of the best opportunities are stores selling foods with special ingredients or health benefits, training services and grooming services.
China
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According to news and pet industry reports, China’s pet industry began to take off since the late 2000's. Not only is the trend attributable to the country’s ongoing economic development - affording the average citizen greater disposable income - the Chinese have joined the pet lovers of the world in regarding their critters as beloved family members.
The Chinese pet market continues to grow at rapid rates, in part due to these factors:
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China’s pet legislation was updated and dog licensing fees were lowered from $285 (USD) per year to $42 (USD).
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China has a low birth rate, and a growing number of middle-class adults are choosing to spend money their pets.
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Some reports indicate that the highest increase of pet ownership is with the elderly Chinese population.
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Fish and other aquatic animals have long been revered in the Chinese culture.
Russia
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Another up-and-coming world pet market is found in Russia, which has witnessed dramatic growth in the realm of pet food.
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Nestle in summer 2011 announced that it was investing $48 million into its pet food factory in the town of Vorsino. The goal was to double production of the company’s wet pet food within the following three years.
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Mars, meanwhile, reported that net profits for its Royal Canin Russian subsidiary JSC Roskan increased by a mind-boggling 33 percent in 2010.
It is clear that pets have a significant influence on owners’ choice of holiday. Importantly for Scottishtourism 20% changed holidays in order to take the pet8. Many pet owners base their entire holidayaround how suitable the destination is for their pet and are willing to spend more to do so, despiteit being harder work. The ‘hound pound’ can be profitable for tourism businesses given the desireby many dog owners to take their beloved friend along with them on holiday.
