Pet owners across Europe have helped the pet care sector remain buoyant during 2013, despite challenging economic conditions that continue to impact many shoppers.
This is according to the latest Pulse Report, launched during the UK’s National Pet Month, which provides trends and insights for the most popular retail categories across the UK and Europe, published by IRI.
Worth €8.5 billion last year, the pet market still grew in value by +1.7% across six key markets – France, Germany, the Netherlands, Spain and Italy and the UK – during a recession.
However, according to IRI, this growth was driven by an increase in price rather than volume sales. Price inflation and the fact that there are more premium branded products available in small sizes have also helped grow the sector, which saw slower growth than the previous year.
Pet industry expert Ryan O’Meara commented on the growth saying, “Pets have always been a huge industry. You can choose to buy a new game for your PS3 or X-Box, or a new iPod or album, but you can’t choose whether you feed your pets for example, so pets will always be a part of the family you spend the money necessary to make sure they’re happy and healthy.”
Photo by paul david (busy running!)