Business View Magazine - October 2016 19
and minerals, antioxidants, all-natural ingredients, and
no preservatives, artificial colors, or flavors.
Analysts forecast the global pet care market to grow
at a CAGR of 4.72% during the period 2016-2020. Ac-
cording to the report, high profit margins for manu-
facturers are an important driver contributing to this
market’s growth. Pet care manufacturers are leverag-
ing on the growing number of pet owners and their
willingness to pay for premium products by offering
a wide range of innova-
tive, specialized, and
premium products. Pet
retail stores are estimat-
ed to have gross profit
margins of 35%-45%.
Pet food manufacturers
are experiencing high
profitability as pet own-
ers continue to purchase
special food formula-
tions to maintain the
health and well-being of
their pets.
North America will be
the highest revenue-
generating region in the pet care market and is antici-
pated to occupy more than 40% of the total market
share. Much of the market’s growth can be attributed
to the rising pet ownership and increased spending
on premium pet care products like food and acces-
sories. Moreover, the consumers in this region treat
their pets as family members and are willing to spend
for them, liberally.
The global pet care market is extremely competitive,
where several vendors compete in terms of product
differentiation, product portfolios, quality, and pric-
ing. Many vendors in the market are extending their
businesses to emerging markets such as Central
and South America, and APAC. The intense compe-
tition prevailing in the market will lead to consolida-
tion among market vendors in the coming years. The
growing demand for pet food that is grain-free, organ-
ic, natural, and with low-glycemic content are gaining
popularity among pet owners, which has pushed the
manufacturers to formulate new products to meet
consumer requirements.
The following companies are the key players in the
global pet care market: Ancol Pet Products, Beaphar,
JM Smucker, Mars, and Nestlé Purina. Other promi-
nent vendors in the market are: Aller Petfood, Barking
Heads and Meowing Heads, BHJ Pet Food, Blue Buf-
falo, Bob Martin, BOSHEL, Chelsea Dogs, Diamond
Pet Foods, Earthwhile Endeavors, Ferplast, Inaba Pet-
food, Just for Pets, Oster, Pet Brands, Pettex, Plati-
num Pets, Rolf C Hagen, Rosewood Pet Products,
Tetra, The Hartz Mountain, Vitakraft, and Yantai China
Pet Foods.
