New York - Trends in pet travel, home assistance and convenience will catapult the pet-supplies market to $11 billion by 2009.
NEW YORK — Trends in pet travel, home assistance and convenience will catapult the pet-supplies market to $11 billion by 2009.
That's according to a new report from Packaged Facts, a market-research firm. The buzzword is convenience, signaled by the entrance of more than 30 human-only companies into the pet-products arena, the research firm reports.
"In both mass and pet-specialty channels, convenience leads the pack over most other purchasing factors, influencing 85 percent of mass-market shoppers in 2006, up from 83 percent in 2005," Packaged Facts says. "New pet convenience-product lines grew by nearly 20 percent between 2005 and 2006, and the number of pet convenience-product lines specifically positioned as 'upscale' jumped from seven in 2002 to 41 in 2006."
Two-thirds of pet owners reportedly travel with their pets, opening up more opportunities for the pet-products market to capitalize "on the growing bond between owners and their pets," Packaged Facts says.