Advertisement

Pet Food News
On May 6, 2013

IBISWorld offers report on UK petfood stores, garden supply market

Economic factors have caused industry's revenue to fall, report says

The UK garden supply and petfood stores industry has faced a number of factors over the past five years that caused the industry's revenue to fall, according to IBISWorld's research report.

The report says sustained recessionary economic conditions have led to a significant decrease in disposable income for consumers, who subsequently reduced discretionary purchases. Additionally, p et owners faced with financial restrictions and the rising costs of utilities, food and transportation were forced to reduce expenditure on pet supplies or give up their pets entirely.

Over the five years through 2013-14, the report estimates industry revenue to be decreasing at a compound annual rate of 3.3 percent.

“The industry's poor performance has been mitigated by consumers with a great affection for their pets, and unwilling to cut back on pet expenditure," says IBISWorld industry analyst Temitope Onabanjo.

The industry is expected to recovery steadily and slowly over the next five years in line with the eventual recovery of the UK economy. The full report can be purchased online .

Comments powered by Disqus

Advertisement

Advertisement

Advertisement

Read the May issue of Petfood Industry!

May 2015

The May 2015 issue of Petfood Industry focuses on the expanding pet food company, Pipeline Pet Products, and how new product development is helping the company to grow in the US market. Also, learn about emerging pet food markets like Asia-Pacific as expenditures on pet products continue to grow. And as specialty pet foods continue to grow in all markets, products claiming “natural” or “organic” status are climbing to the top of consumers’ lists.

READ MORE in Petfood Industry magazine

Advertisement