Market for Senior, Weight Management and Special Needs Pet Products to Reach $7B by 2013
The aging pet population and the epidemic of overweight/obese pets are two emergent trends driving much, if not most, of the activity in the health product segment of the recession resistant U.S. pet market, according to "Senior, Weight Management and Special Needs Pet Products in the U.S." by leading market research publisher Packaged Facts.
The $4 billion market for senior, weight management and special needs (SWM) pet products (including pet food, prescription pet medications, pet supplements and devices and other non-food assistance products) is projected to increase 55% over 2008 sales to almost $7 billion in 2013.
"Beyond being conditions themselves, old age and obesity are driving factors in a long list of medical conditions, including joint and back problems, coronary disease and diabetes, calling for targeted therapies," says Tatjana Meerman, Publisher of Packaged Facts. "In light of the humanization and premiumization trends, it's a market segment that will only broaden in the years to come. And market players closely associated with senior health and weight management products will reap the rewards of being viewed as pet health experts at the center of the lucrative pet wellness movement."
Pet food continues to represent the bulk of the market for SWM pet products, accounting for 59% of retail sales in 2008. Not surprisingly, SWM pet foods have established a solid position in most major dog and cat food brand lines as key strategic points for brand extension and competitive segmentation. However, it's the fast growing medications category that is charting double-digit annual sales growth as major global animal health companies increasingly focus on products for companion animals.
"Senior, Weight Management and Special Needs Pet Products in the U.S." conducted by Packaged Facts, September 28, 2009. Website: www.packagedfacts.com.