Published Date : May 29, 2017
ALBANY, New York, May 29, 2017: MarketResearchReports.biz has added a new research report to its database on the retail industry. The latest report to be added to this expanding database is titled “Top Trends In Pet Products 2017: Exploring Latest Innovation Trends In Pet Food And Pet Care.” The report is an encapsulation of the key factors influencing the consumer demands for pet care products and pet foods around the world. It explores the more recent innovation trends and their bearing on consumer preferences in the pet food and pet care market.
According to the report, one of the key factors that players in the pet food and pet care market need to look out for is the growing pet ownership across the world. This alone is a big enough reason for players to expand their base of operations towards newer regions. With more and more people adopting pets, the demand for pet food and pet care products is expected to skyrocket over the coming years. The market is also further augmented by the successful marketing tactics employed by the key players in terms of getting consumers aware of their products and the benefits that they bring to the table. As for regional players, a commonly increasing knowledge pool of consumers regarding pet health and care is propelling the demand for their products.
The report provides a high volume of details on the factor of humanization. This continues to be the overriding theme for the pet food and pet care market, which is already highly dependent on the general lifestyles of consumers and the changing consumer habits of their pets and the products that the consumers choose for them.
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According to the statistics provided in the report, the pet food and pet care market is expected to be propelled by the growing pool of consumers who own pets. In 2014, nearly 60% of the global population had owned a pet. This number has gone up to nearly two-thirds of the global population in 2016. The report also shows data on how pet owners are becoming increasingly experimental when looking out for new pet food products, far more than their preferences in pet care products. This factor is likely to promote a greater level of innovation in pet foods than the latter. The report also shows that nearly half of the overall pet owners around the world are extremely wary of the ingredients being used in pet foods and that they check for details on most ingredients before purchasing these food products for their pets.
The report explores the top four trends in the pet food and pet care market while also providing data on the newer ways that players are innovating in their aim towards premiumization and humanization of their products.
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