Exploring the Opportunities for Local Pet Food and Equipment Production: A Survey from Croatia

Abstract

Pet food and equipment market is very dynamic and complex. On the one hand, there are few leading producers who dominate the market and influence the prices and market trends. On the other hand, pet owners are becoming more demanding regarding the quality and safety of pet food and equipment. They are looking for innovative and customized solutions. There is the opportunity for small and medium size enterprises to enter the market with niche products for specific customer groups. Croatian pet food market is following global trend and is evolving in size and quality. Local producers cannot achieve economy of scale to compete with leading producers, but they can find niche markets and participate with customized, innovative products. This study explores the opportunities for local pet food and equipment producers based on the online survey of 880 pet owners from Croatia. The likelihood of buying local pet food and equipment has been analyzed using logistic regression. The findings revealed that pet owners are willing to pay higher prices for customized, innovative local pet food and equipment. Moreover, the results indicated that younger pet owners buy more local products, and those who prefer online shopping channel buy more foreign products. The findings could help pet food producers and potential investors to adjust their strategies according to the pet owners’ purchasing habits.