Looking for that next export niche? Research in the US has pinpointed the pet product industry as a growing market that is projected to surpass $11 billion by 2009.
The Pet Travel and Convenience Products report details trends in the pet supply industry, and claims pet travel, home assistance and on-the-go products that tap into the convenience and emotional needs of pet owners are expected to expand the market.
Convenience leads the way, influencing 85 percent of mass-market shoppers. Two-thirds of pet owners travel with their pets, and more than 30 companies have moved from selling ‘human-only’ products to incorporating pet products.
With items such as pet wipes, pet strollers and calming supplements recently launched on the market, there is growing audience for companies to target the pet-loving market. “More and more products for pets are being made to resemble those for humans,” says Don Montuori, publisher from Packaged Facts, the market research publishing company behind the report. “This trend reflects both practical considerations and the strategy of marketers to strike an emotional chord among pet owners, who are thinking in human terms as they shop and applying their own preferences to the pet products they select.”
