DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/g6rdqt/pet_market_market) has announced the addition of the "Pet Market Market Assessment 2014" report to their offering.
This market update analyses the UK consumer pet market, subdivided into the two main market sectors of pet food and pet accessories. Pet food consists of any food product designed and manufactured specifically for a specific animal, providing all or some of the nutrients that the pet requires in its diet. Pet accessories is a broad market sector including pet toys, grooming and hygiene accessories, pet restraints, pet housing/bedding, feeding utensils and other miscellaneous products such as pet fashion clothing and accessories.
This report examines the pet market with a particular focus on the 5-year period between 2009 and 2013, in terms of the value of the market and individual sectors; trends and issues impacting competitors in the industry; the position of the UK pet market within the international marketplace; as well as the future of the market over the 5 years to 2018. In the past 5 years, the UK pet market has displayed resilience in the face of the unstable economy, with estimated yearly growth of 7.5% occurring between 2012 and 2013.
The pet food sector is by far the largest sector within the UK pet market, with the nation of pet lovers having a constant necessity for pet food due to the large population of pets in homes across the UK. While some consumers have been forced to resort to the budget end of the market due to economic difficulties, many pet owners have proven unwilling to compromise on the quality of food that they feed their pets, resulting in a market that is largely polarised with expenditure occurring at either the budget or premium end of the spectrum. Pet owners are increasingly humanising their pets and treating them as family members, and so healthy eating trends among humans are increasingly filtering into the pet food market.
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For more information visit http://www.researchandmarkets.com/research/g6rdqt/pet_market_market
Source: Research and Markets