Fast Market Research recommends "Pet Products in Norway" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 11/19/2014 -- The pet humanisation trend continues to fuel strong growth within pet products. Pet owners want to treat their pets, not just by feeding them, but also by providing them with additional gifts and accessories, much like they do with their own children. The industry has responded by introducing an increasingly diverse range of products for dogs, cats and other pets, including toys, leashes, bedding and clothing. In addition, more and more healthcare and dietary products are becoming available through specialist retailers and veterinary clinics. Overall, the trend is towards pre-treatment and prevention as opposed to medicines after the pet becomes sick. This is clear through the availability of products like toothpaste for dogs and vitamin supplements for all pets. In general, most growth in this area is coming from additional accessories for dogs and cats and this trend is set to continue over the forecast period.
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The key development within pet products over the last 2-3 years has been the entrance of new players. For example, the entrance of Plantasjen in 2012 within pet departments had a big impact on the distribution of certain products. Kruuse AS is the key distributer, with the company?s pet products sales share gradually increasing to 3%. As much of the growth in the overall pet industry is coming from pet products, particularly other pet products, many major brands are entering the area. Unlike pet foods, customers have very little loyalty to pet products and are willing to shop around for the highest quality and best value. Overall quality is thus improving rapidly and pet products is an area which is likely to undergo much change and will be liable to fierce competition during the forecast period.
Pet products accounted for a large part of overall growth in the pet industry in 2013, particularly through other pet products. This trend is likely to continue over the forecast period, with the area having a projected constant 2014 price value CAGR of 6% and sales set to reach NOK647 million by 2019. The huge potential of the area is likely to encourage most of the major players in the area to place more emphasis on pet accessories like dog leashes, feeding trays, and cat boxes as well as some niche products that have become more prominent like clothing and beauty products. Customers in Norway have no brand loyalty for pet accessory products and this leaves the area open for any company with a commitment to innovation to take advantage of a market with huge potential. The recent entrance of sports shops like XXL and G-Max has brought some external knowledge to the industry and this has the potential for synergy products which are focussed on sports and fitness for pets and owners. Norway is still a small market and new innovations within pet products are likely to be introduced after they have been established in larger European markets like Germany and the UK.
Discover the latest market trends and uncover sources of future market growth for the Pet Products industry in Norway with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Pet Products industry in Norway, our research will save you time and money while empowering you to make informed, profitable decisions.
The Pet Products in Norway market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Pet Products in Norway?
- What are the major brands in Norway?
- What are the key product launches?
- How have worming and flea product fared against other products within pet healthcare?
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