Despite economic uncertainty, the global pet care market continues to grow in 2012, with retail values approaching US$94 billion, according to Research and Markets' latest report, "Pet Care Forecast Revisit 2012: How Resilient Is the Global Market?"
The report, by Euromonitor International, projects sales will continue to grow between 2012 and 2017, thanks to the humanization of pets and strength in emerging markets, although retail value prospects were downgraded from previous Euromonitor forecasts.
This report, available for purchase online, examines the socioeconomic challenges facing global pet care and how they can be overcome. The report provides insight into the development of the market, and highlights buzz topics, as well as emerging geographies, categories and trends. It also identifies leading and emerging companies and brands, and offers strategic analysis of key factors influencing the market, including background information on pet population, pet ownership by household and prepared gap ratio.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.