Consumer Products & Services

Personal Products Segment Witnesses
Healthy Growth

The U.S. personal products market has experienced steady annual growth over the last five years and is expected to maintain its growth performance at least until 2013. The U.S. market recorded a CAGR of 2.3% over 2004-08 and reached $74.6 billion in 2008. The European and Asia-Pacific markets posted a higher growth of 3.1% and 4.2% (CAGR) over the same period, and reached $125.9 billion and $101.7 billion, respectively, in 2008.

The OTC healthcare segment was the most lucrative segment in this market last year, generating revenues of $25.5 million, or 34.2% of the market's overall value. The skincare segment contributed revenues of $8.5 million, or 11.4% of the market's aggregate revenues. This market is forecast to accelerate at a CAGR of 2.1% during the five-year period 2008-2013, and reach $82.9 billion by 2013.

Increasing pet ownership leading to growth in pet food products business

In the U.S., around 71.4 million homes or 62% of all U.S. households own a pet, according to the 2009/2010 National Pet Owners Survey. This figure is significantly higher than 56% recorded a decade ago (1998).

Accordingly, there is an increasing trend of introducing pet products and services in this market. To meet growing demand from customers, hotels have also started welcoming pets and are adopting pet friendly policies. The facilities provided include a variety of merchandise such as oversized pet pillows, plush doggie robes, check-in gift packages (that include a pet toy, dog treat, ID tag, bone, and turn down treat), and new lines of pet products (pet shampoo, attire, toys, gourmets) from branded companies such as Omaha Steaks, Harley Davidson, and Old Navy. As a result, total sales of pet-related products in the U.S. market are estimated to increase to $45.4 billion in 2009 from $43.2 billion in 2008.