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The pet care market size is estimated to grow by USD 98.4 billion at a CAGR of 7.44% between 2023 and 2028. The growth of the market depends on several factors, including increasing pet ownership, shifting preference toward natural and organic products, and the humanization of pets. However, increasing competition for pet care products globally is a major challenge that the companies are trying to overcome. User, dogs, cats, grooming, food, toys, pet accessories, health, training, veterinary services, pet supplies, pet industry, pet-products, pet insurance, pet adoption, pet sitting, pet sitters, pet grooming, pet training, pet boarding,pet daycare, pet walkers, pet transportation, and pet wellness all play crucial roles in shaping the dynamics of this ever-expanding market.
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The market is flourishing with a focus on little pets' well-being, encompassing feeders, bowls, and waterers that promote pet health and comfort. Pet shelters and adoption services play crucial roles in fostering and adopting pets, addressing pet health issues, and promoting lifestyle upgrades. The market emphasizes reducing the ecological footprint by using sustainable and recyclable materials in products such as Neo Bites treats and pet furniture. Anxiety, stress, and depression in pets are addressed through exercise and specialized products designed to alleviate loneliness and enhance mental well-being. As the sector grows, there is a heightened awareness of integrating sustainable practices and innovative solutions to cater to the diverse needs of pet owners and their furry companions, particularly cats. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing pet ownership is notably driving market growth. This is due to the fact that more people are choosing to keep pets for a variety of reasons as pet ownership has increased recently. The demand for pet-care goods and services rises along with the number of owners. Pets receive the same level of care and consideration as people and are treated as members of the family. In order to make sure they are taken care of, owners are therefore willing to spend more on goods and services. The market will continue to expand as a result of this trend, which is predicted to continue.
It has become simpler for people to keep pets as landlords and employers increasingly value pet adoption. The rise in pet ownership can be attributed to several factors, including humanization, the availability of pet-friendly homes and workplaces, and the COVID-19 pandemic. Hence, such factors have led to an increase in demand for pet care products and services, which is expected to drive market growth and trends during the market analysis and report period.
The growing popularity of customization in products is an emerging trend in the market growth. Customers are drawn to the variety of products that market competitors are developing. The majority of businesses allow customers to customize their products. According to the needs of owners, the design, color, size, raw material, style, and shape can be changed. In order to meet the unique needs of each customer in the global market, features like unique decorations and bedding, portability, personalized accessories, built-in storage space, food and drink holders, seating arrangements, type of raw materials, and other appealing features can be added.
Pet owners can also request customized pet accessories like leashes, collars with name tags, and harnesses made from specific raw materials, such as leather. Due to the fact that leading manufacturers are providing designer, specially-made products to meet consumer demand, the global market is anticipated to experience significant growth as a result of growing consumer demand during the forecast period.
The increasing competition for products globally is a major challenge impeding market growth. The global market is extremely competitive, with a large number of players providing a diverse range of goods and services. The development of e-commerce platforms, which have made it simpler for new players to enter the market and compete with established brands, is the main factor fueling increased competition in the global market . E-commerce has played a crucial role in the expansion of the market, allowing owners to conveniently purchase products online. Businesses now have to compete not only with local retailers but also with international players who have significant resources and economies of scale as a result of the growth of online marketplaces.
Businesses must invest in R&D, marketing, and branding to develop cutting-edge products that meet shifting consumer demands while also addressing logistical and supply chain issues if they want to succeed in this environment. The only way the market can hope to succeed in is by remaining flexible and adapting to shifting market conditions. Hence, owing to the increasing competition among the players in the global market is expected to impact growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABP Food Group Ltd. - The company offers beef, lamb, and sausage product provider nationally. The key offerings of the company include pet-care under the brand C and D Foods Ltd.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The application segment of the market is driven by various factors, including consumer spending trends, technological advancements, and a growing awareness of responsible pet ownership. With a significant portion of household spending allocated to pet-care categories, the market sees continuous growth driven by the increasing adoption of pets and fostering initiatives, supported by pet shelters worldwide. Pet owners are increasingly investing in exercise equipment such as feeders, bowls, and waterers, catering to the well-being of their furry companions. Moreover, advancements in technology have led to the emergence of internet purchases of pet-products, offering convenience and accessibility to pet owners. Furthermore, there is a rising focus on addressing pet-health issues, including anxiety, stress, and depression, as these factors not only impact the pets' well-being but also the cardiovascular health of their owners. Companies like Neo Bites are introducing innovative products made from sustainable and recyclable materials, aligning with the growing demand for eco-friendly pet-care solutions. As consumers seek lifestyle upgrades for their pets, the pet care industry continues to evolve, offering a wide range of pet furniture and accessories to enhance their pets' living spaces. This trend reflects a shift towards responsible pet ownership and a desire to reduce the ecological footprint associated with traditional pet-care products.
The market share growth by the dogs segment will be significant during the forecast period. Dogs make up a significant portion of the global market, which is currently experiencing growth. Businesses cater to a variety of dog-related categories, including food, grooming, healthcare, and accessories. The dog segment was valued at USD 77 billion in 2018. Dogs are thought to reduce stress, anxiety, and depression, encourage activity, and enhance cardiovascular health. Parents frequently keep dogs as pets to teach their children responsibility, the value of kindness, and the importance of sharing. Dogs also give elderly people company when their children and other family members live elsewhere. Additionally, to keep their dogs healthy even when they are not home, working couples with nuclear families frequently purchase dog-care supplies. Thus, the segment is expected to grow with an increase in demand for pet dogs in the global market during the forecast period
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Cats tend to be more social than dogs, they can usually adapt to living alone better. Those who enjoy owning pets but do not have to give them a lot of attention tend to prefer them. Cats take less care than dogs do. Most cat owners buy cat furniture, which is anticipated to drive this area of the global market. Having a cat as a pet can be very rewarding. Your nervous system can be instantly calmed and given an immediate outlet for play and enjoyment by a cat. Cats are independent creatures who enjoy foraging and exploring on their own, but they also have a very affectionate side when it comes to their owners and other individuals they can trust. The fascinating aspect of cats is that they require less maintenance and money than dogs, which require frequent grooming, training, walking, and more toys and care. Cats are also ideal for urban or flat life.
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North America is estimated to contribute 43% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the largest region in the market globally. The industry in the area is currently being impacted by technology. One of the trends currently dominating the market is the creation of specific pet apps. It enables pet owners to keep an eye on their animals' eating habits, playtime, and health regimens. People's desire for a friend is the main factor fueling the expansion of the industry. In North America, the market is currently growing. The demand for pet-related services is rising, including grooming, training, and adoption. Millennials play a significant role in pet adoption in this regard because they perceive their pets as human beings and want to care for and provide for them. Moreover, pet food is the biggest category of pets in North America. A significant market trend has been the rising consumer interest in organic, whole-food, and healthy foods. Over the years, the market for pet food in North America has grown significantly, with dog and cat food accounting for the majority of sales.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market encompasses a wide array of products and services catering to pet owners and their beloved animals. From dogs and cats to reptiles, turtles, freshwater & saltwater fishes, birds, horses, and small animals, the sector addresses diverse companion animals' needs. Adoptions and fostering initiatives in pet shelters promote responsible pet ownership and animal welfare, while veterinary care and grooming products ensure pet health and hygiene. Sustainable and recyclable materials are increasingly used in pet accessories and quality pet food, aligning with consumer demand for eco-friendly options. Online stores and home delivery services provide convenience, offering everything from cardboard pet feeder devices to smart laser cat toys. Despite challenges like animal-borne diseases and health issues such as abdominal pain and diarrhea, the pet care industry continues to innovate, driven by a growing focus on pet well-being and lifestyle upgrades for pet owners.
Moreover, the pet sector is evolving with a focus on sustainability and pet welfare, integrating sustainable materials into products ranging from pet treats and foods to grooming & hygiene items. As more people opt for apartments and flats, innovations in pet care cater to urban living, with products designed for compact spaces like location tracker devices and clean-label pet foods. The Pet Advocacy Network plays a vital role in promoting responsible pet ownership and advocating for animal welfare. Restraint factors such as limited lawn or porch access are addressed through specialized products that meet pets' dietary needs with meat, grains, cereals, vitamins, and minerals. Pet stores and supermarkets continue to adapt, offering a diverse range of pet care solutions that prioritize both environmental sustainability and pet health.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market growth 2024-2028 |
USD 98.4 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.41 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 43% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABP Food Group Ltd., Agrolimen SA, Aller Petfood Group AS, Ancol Pet Products Ltd., Beaphar Beheer BV, Champion Petfoods Holding Inc., Colgate Palmolive Co., Doskocil Manufacturing Co. Inc., General Mills Inc., heristo aktiengesellschaft, Mars Inc., Monge and C Spa, Nestle SA, Pets Choice Ltd., saturn petcare gmbh, Schell and Kampeter Inc., Tail Blazers, The J.M Smucker Co., Unicharm Corp., and United Petfood Producers NV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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