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The pet accessories market size is estimated to increase by USD 16.02 billion and grow at a CAGR of 6.99% between 2024 and 2028. The rise in ownership and increased spending on pets drives the market. The availability of a wide range of fashionable and multifunctional accessories caters to diverse consumer preferences, further fueling market growth. Moreover, technology innovation and portfolio extension enhance product offerings, leading to product premiumization. However, challenges persist, including the growing awareness of pet allergies among humans, which may impact purchasing decisions. Additionally, the availability of counterfeit products undermines market integrity and consumer trust. Furthermore, infrequent purchases and a low replacement cycle pose challenges to sustained growth. Overcoming these obstacles requires robust strategies to address pet allergy concerns, stringent measures to combat counterfeit products, and innovative marketing approaches to encourage repeat purchases. By adapting to evolving consumer needs and maintaining product quality, the market can continue to thrive amidst challenges.
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This market report extensively covers market segmentation by End-user (dogs, cats, and others), Product (pet toys and others), Distribution Channel (offline and online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
The dogs segment is estimated to witness significant growth during the forecast period. The market encompasses a wide range of products designed to enhance the health, comfort, and lifestyle of various pets, including Dogs and Cats. This market includes the sales of feeds, toys, grooming accessories, and Pet furniture. Dogs, being the most commonly owned pets, demand significant attention and space. Working couples in nuclear families often invest in furniture to provide their Dogs with a comfortable living environment, especially in apartments where outdoor spaces are limited. Cat owners also prioritize their pets' well-being, leading to the increasing demand for Cat-specific products such as grooming accessories, odor-free litter boxes, and stylish clothes.
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The dogs segment was the largest segment and valued at USD 13.69 billion in 2018. A healthy lifestyle and longer lifespan are essential considerations for owners, leading to the adoption of preventive products like health care items and grooming services. Pet obesity is a growing concern, necessitating the need for basic hygiene practices such as regular bathing, brushing, clipping, trimming hair, cleaning ears, and trimming nails. These grooming services can be time-consuming and painful, leading to the popularity of Pet grooming accessories that make these tasks more comfortable and efficient. The larger consumer base, driven by adoption, has led to the emergence of E-retail platforms and online brands offering a wide range. The market for designer accessories is also growing, with owners seeking attractive and stylish products for their pets. Pet adoption is on the rise, leading to an increase in the demand for toys, feeds, and health care products. The convenience of online shopping and the availability of a diverse range of products catering to various pet needs have further fueled the growth of the Market. In conclusion, the Market is a significant and growing industry, catering to the diverse needs of pets and their owners. The market includes a wide range of products, from Pet feeds and Pet toys to Pet grooming accessories and Pet furniture, all designed to ensure the health, comfort, and happiness of pets while meeting the evolving preferences of their owners.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is experiencing significant growth, particularly in urban areas with high-rise buildings, where ownership is on the rise. This market caters to various types, including hamsters and small animals, and offers a wide range of products. Connected collars and smart feeders are popular choices among tech-savvy owners, aligning with current trends. Recycled and plant-based fabrics, such as hemp and cotton, are increasingly used in clothing to humanize pets and align with eco-conscious consumer preferences. The e-commerce industry plays a pivotal role in the market, with online platforms providing convenience and accessibility to customers. The market includes product types ranging from pet clothing and grooming/services to pet hygiene items. The mass segment targets the average pet owner, while the luxury segment caters to premium consumers. Pet services, including blow pens and nail clipping, are also gaining popularity, as pet owners seek to provide their pets with the best care. The market is driven by increasing internet penetration and LTE service availability, enabling online payment applications for seamless transactions. The target audience is diverse, with varying needs and preferences, making innovation a key factor in market growth.
The market experiences significant growth due to the increasing pet adoption rate and the prioritization of pet wellbeing by owners. Pet expenditure on accessories such as Collars, Leashes, Harnesses, Beds, Toys, Grooming supplies, Vitamins, and Organic food reflects the commitment to providing a healthy lifestyle for pets. New product varieties cater to hygienic needs, ensuring an odor-free and dander-free environment. Pet grooming accessories, including grooming services, are essential for maintaining hygiene and managing hair loss and tangles. The focus on wellbeing and lifespan drives the demand for high-quality ones, making it an essential market for businesses.
The increase in the number of people owning pets and increased spending on pets is notably driving the market. The market experienced notable growth in 2021, with an increasing number of households owning pets and the per capita expenditure on pet care continuing to rise. According to organizations, approximately two-thirds of US households have adopted pets, leading to a surge in demand. Pet owners are no longer limiting their investments to essentials like food and grooming services but are also purchasing innovative and specialized products to ensure their pets' wellbeing. New product varieties, such as automatic pet feeders, collars, leashes, harnesses, beds, toys, grooming supplies, vitamins, organic food, and smart accessories, have gained popularity among pet owners. These accessories are not just essential for regular chores but also serve to pamper and humanize pets, making them valued members of the family.
Also, the market includes a wide range of products, from collars and leashes to smart beds and automatic feeders, catering to the diverse needs of dogs, cats, and others. The production cost, including raw materials, has increased due to the high demand, presenting both challenges and opportunities for businesses in the sector. Despite the rising production costs, the market is expected to continue its growth trajectory, offering significant business opportunities for entrepreneurs and investors.
The advent of smart accessories is an emerging market trend. The market has experienced significant growth due to the increasing adoption rate and subsequent expenditure on wellness. New product varieties catering to owners' needs have emerged, including automatic pet feeders, smart collars, and advanced pet beds. Households with dogs and cats have become a substantial customer base for this business. These smart accessories offer features such as built-in scales, thermostatic climate control, and automatic temperature adjustment, ensuring optimal comfort and safety. Per capita expenditure on care continues to rise, with pet organizations identifying numerous business opportunities in this sector.
Leading manufacturers like Cycle Dog have launched innovative products, such as smart beds and collars, to cater to the pet humanization trend. The production cost of raw materials remains a crucial factor for manufacturers. The merger of businesses and product launches have added to the market's diversity, offering a wide range of products, including leashes, harnesses, toys, grooming supplies, vitamins, organic food, and adoptions. Pet wellbeing and vitamins have gained prominence, further fueling the demand for smart accessories in the business.
The infrequent purchases and a low replacement cycle for accessories is a major challenge. The market caters to the growing expenditure on pet care and wellness, with an increasing number of households owning dogs and cats. Despite concerns over harmful bacteria and allergens, the market continues to thrive due to the new product variety and the humanization of pets. Pet owners invest in a range of accessories, including automatic pet feeders, collars, leashes, harnesses, beds, toys, grooming supplies, vitamins, organic food, and smart accessories. Per capita expenditure is on the rise, making the business an attractive opportunity for entrepreneurs. Adoptions and pet wellbeing are key priorities for pet organizations, leading manufacturers like Cycle Dog continually launching new products to meet these needs. Raw materials and production costs are closely monitored to maintain affordability while ensuring high-quality products. Key product categories include collars, leashes, harnesses, beds, toys, grooming supplies, vitamins, organic food, and smart accessories. Automatic pet feeders, for instance, simplify regular chores for busy owners, while smart collars and beds offer advanced features for enhanced care.
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.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 market is a significant sector, encompassing a wide range of products designed to enhance the well-being and comfort of pets. These include harnesses, leashes, collars, pet beds, toys, and more. The market is driven by the growing trend of pet humanization and the increasing awareness of pet health and welfare. Pet owners are willing to invest in high-quality accessories to ensure their pets' happiness and safety. The market is diverse, with various categories catering to different pet types and preferences. Pet beds, for instance, come in various sizes and materials to suit different breeds and owner preferences. Similarly, toys are designed to stimulate pets mentally and physically. The market is expected to witness continuous growth due to the increasing pet population and the rising disposable income of pet owners.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.99% |
Market growth 2024-2028 |
USD 16.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.06 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ancol Pet Products Ltd., Blueberry Pet, Designer Pet Products, Dobbies Garden Centres Ltd., Ferplast Spa, Go Pet Club, Hagen Group, Honest Pet Products LLC, Inter IKEA Holding BV, K and H Pet Products, Laroy Group, Petcraft, Pets Choice Ltd., Platinum Pets, Prevue Pet Products, Rosewood Pet Products Ltd., Spectrum Brands Holdings Inc., Tailpetz, Unicharm Corp., and Ware Manufacturing Inc. |
Market dynamics |
Parent market analysis, Market forecasting, 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 the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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