INTRODUCTION
REASONS FOR DOING THIS STUDY
The pet industry is a major segment of the U.S. economy. In 2008, American pet owners spent more than $43 billion on their small companions, and in 2009, this figure is expected to surpass $45 billion. Since BCC published its last report on the pet industry in 2006, continued growth in all segments of the pet industry has provided an opportunity for both existing players and new entrants. A growing number of players, as well as consolidation among manufacturers, retailers, and service providers, and globalization of the American economy have transformed the maturing pet industry into a dynamic, highly competitive environment. This BCC Research report analyzes these new developments and their potential impact on the future of the pet industry.
OBJECTIVES OF THIS STUDY AND ITS CONTRIBUTION
The objective of this research is to provide a comprehensive analysis of all segments of the pet industry in the U.S. and to forecast future trends. The study analyzes developments in all animal segments, including bird, fish, small mammal, and reptile products. Due to the increasing importance of international markets for U.S. manufacturers and retailers, the report includes an analysis of global trends, with an overview of key export markets for U.S. pet products.
INTENDED AUDIENCE
The report is intended for executives and consultants in the pet food, pet supplies, veterinary, and other pet services segments of the pet industry. It will also be of interest to financial analysts, venture capitalists, and investors.
SCOPE AND CONTENT OF THE REPORT
This report covers the market for pet food, pet services, and pet supplies in the U.S. and analyzes major foreign markets for U.S. pet products. The report is divided into the following eight sections:
- Introduction
- Summary
- Pets and Their Owners
- Pet Industry Overview
- Pet Food Segment
- Pet Services Segment
- Pet Supplies Segment
- International Aspects
In addition, the report contains an appendix listing the major trade and professional organizations that are concerned with the pet care industry in the United States and selected foreign markets.
METHODOLOGY AND INFORMATION SOURCES
BCC analyzed historical growth trends in the U.S. pet population and developed a simple pet demographic model to projects future population trends. BCC also analyzed historical trends in the market for pet care products and services in the context of pet population trends and other variables, such as economics, consumer trends, competition, and price pressures. Based on its analysis, BCC projected the future market for each major segment and subsegment of the U.S. pet care industry through 2014.
The data on which these projections are based are, in some cases, open to different interpretations. Therefore, BCC has made a point of documenting its analytical assumptions and methodologies as explicitly as possible in order to enable readers to evaluate them and test the impact of substituting alternative assumptions.
In preparing this report, BCC obtained and analyzed information from trade and mainstream publications, industry and pet ownership surveys, company directories and databases, annual reports, and government sources. The U.S. Government Census, Consumer Expenditure Surveys from Bureau of Labor Statistics, and U.S. Department of Commerce provided demographic, consumer expenditure trends, and foreign trade data. Personal interviews were conducted with representatives from major companies, U.S. trade associations and publications, industry experts, and government officials. Foreign government offices, trade associations, and trade publications were contacted for information on international markets.
ANALYST CREDENTIALS
The analyst responsible for preparing this report is Andrew McWilliams, a partner in the Boston-based international technology and marketing consulting firm, 43rd Parallel LLC. Mr. McWilliams was the author of BCC’s 2006 report on the pet industry and has written a number of other BCC consumer-oriented market studies, including IAS031A Home Automation and Security Technologies, Products, and Markets; SMC058A The Digital Home Entertainment Revolution: Technology Enablers; AVM053A Materials and Devices for High-Performance Sports Products; NAN037A Nanotechnology for Consumer Products; AVM050B Smart and Interactive Textiles; and FOD013A Evolving Nutraceutical Business.
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DISCLAIMER
The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
Report Code: FOD007J, Published: January 2010, Analyst: Andrew McWilliams
