2014-01-09 13:15:01 - Pet Care in South Africa - a new market research report on companiesandmarkets.com
The pet care market in South Africa continued to experience strong value growth in 2012: the market increased by a CAGR of 8.7%. Growth in 2012 was slightly higher than the preceding year where 8% growth was recorded in current terms. Despite socio-economic issues, including escalating food and fuel prices, rand volatility, job insecurity and rising household debt, growth was maintained. New product innovation and unit price increases in 2012 supported value growth in most categories. On top of this, rising demand for prepared pet food and Premiumisation is further driving an increase in unit prices in the country.
The growing pet humanisation trend continues to be one of the key drivers for growth within the South African pet care market.
South African pet owners are increasingly humanising their pets and treating them more like any other member of the family; healthcare, nutritional food and increased spending on pampering with non-essential items such as toys is the result. Rising disposable incomes coupled with increasing rates of urbanisation and a rising black middle-income population continues to support household spending on pet care in South Africa.
Supported by retailers including Woolworths and Pick ´n Pay Retailers, growth in private label continued to increase significantly in 2012. The private label ranges vary in each retailer, with a various consumer groups catered for by different priced products. Consumers have continued to respond positively to private label, with significant growth expected to be seen within this segment as retailers push for sales.
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