Dublin, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The "Garden Centres & Pet Shops in the UK - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Over the five years through 2024-25, the Garden Centres and Pet Shops industry's revenue is expected to grow at a compound annual rate of 1.3% to reach £6.5 billion. In 2024-25, revenue is slated to expand by 2.8%.
Pet ownership picked up after the COVID-19 outbreak, but as people return to work and tight disposable income lingers, more pets are being put up for adoption, hurting demand for pet supplies. However, the continuation of hybrid working allowing younger working adults to spend more time at home than before the pandemic is propping up pet ownership.
Market trends indicate a growing emphasis on pet welfare, with households increasingly treating their pets as beloved family members. This shift has led to higher spending on premium foods and accessories for pets, driving both revenue and profit growth in the industry.
Trends and Insights
- Pet owners are pampering their pets more than ever - They're splurging on premium pet products, prioritising animal welfare, and driving demand for high-priced foods like gluten-free options - all helping keep pet stores profitable despite economic challenges.
- Pet food sales spike - The rise in pet ownership and households' willingness to pay for premium pet food options have driven significant revenue growth in this part of the market.
- The South East's wealth and green spaces drive sales - High disposable incomes help pet supplies and gardening stores stay successful, supported by the region having plenty of private and communal gardens.
- Price and convenience drive competition - Shoppers flock to stores that offer lower prices, speedy click-and-collect or delivery services, a variety of stock and high-quality products that keep up with current trends.
- Quality, not quantity, will be the main driver of revenue growth for pet stores - Despite a rise in abandonment in 2023, the number of pets is in the UK is set to remain relatively constant in the coming years, suggesting demand for basics will be flat.
Company Coverage Includes:
- Pets at Home Group
- Blue Diamond UK Ltd
- Dobbies Garden Centres Ltd
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Major Markets
- Globalisation & Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
For more information about this report visit https://www.researchandmarkets.com/r/o9j025
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