Launch of anti- parasite remedies in the form of spot-on or tablets has been observed in 2016. These remedies are generally available to consumers only if they have a prescription from a vet and they are mostly recommended by veterinarians. There is an increase in competition between prescription-bounded and prescription-free players in the market. It has further led to fall in sales of prescription free anti- parasite remedies. But, overall health performance of pets may be harmed.
There is a new trend in Denmark households of multi-pets. A rising number of households have been seen with more than one pet. It is being viewed as a good practice of owning pets in households. There are approximately 70000 cats and 60000 dogs in Denmark and it will further increase in future as there is increase in health trends. There are many companies which spread awareness and give more knowledge about the nutrition, nurture, care and animal behavior to pet owners. Consequently, 100℅ quality food for cats and dogs is being manufactured by the Dutch, family owned company.
According to the report, “Pet Products in Denmark”, manufacturers have been continuously trying to make up the demand for premium, healthy and natural products for pets. Zantry, Essential Foods and Chem Vet A/S are some manufacturers of pet food in Denmark. The market size had augmented well in previous years, but in 2016, a fall in retail value of pet products has been registered.
Manufacturers of flea/tick treatment have been noticed to be discouraged due to decline in the value share of health care, which eventually has led to loss in the share of pet products. In future years as well, no changes are expected to be seen even in the competitive landscape. In 2017, constant prices in retail value have been encountered. Growth of pet products will take place gradually. The reason behind this slow growth is the estimation of fall in value shares of pet health care which is second largest category in the pet products market in future years. Overall performance will be impacted if there is fall in value share of any other sub-category.
Denmark will see an expected decline in sales of pet products in 2017. Still there is scope that by the end of 2017, there will be a slight growth in retail volume as there is a considerable increase in pet care retail volume which will somehow lead to sale in pet product industry as well.
In the coming years, premium products will become popular among pet owners because of increasing trends to healthy lifestyle of their pets. Despite the busy schedule in fast growing world, pet owners would be taking out time and spending it with their pet with love and care and they are also foreseen trying to fulfill their needs and becoming conscious about their health. The overall humanization trend will be well influenced by the changing trend. Pets would be regarded as their family member by the pet owners in Denmark. As a result, the demand for pet products will definitely rise ultimately leading to the overall growth and development of the market in the coming future despite all the challenges.
To know more about the research report:
Ankur Gupta, Head Marketing &Communications