Pet Care Market by Application, and Geography - Forecast and Analysis 2023-2027

Pet Care Market Forecast 2023-2027

The Global pet care Market size is estimated to grow by USD 72.82 billion at a compound annual growth rate (CAGR) of 6% between 2022 and 2027. 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, 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.

What will be the size of the Market During the Forecast Period?

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Market Dynamics

In the bustling world of animal care, ensuring the well-being of beloved dogs and cats is paramount. From providing nutritious food and engaging toys to arranging comfortable grooming sessions and accessorizing with the latest pet accessories, pet owners spare no effort in catering to their furry companions' needs. Veterinary services stand as pillars of support, offering essential animal healthcare market and training guidance. The pet industry thrives on supplying a plethora of pet-products and pet supplies, while pet insurance offers financial security. Additionally, pet adoption initiatives, pet sitting services, and pet transportation services contribute to the holistic care and happiness of pets worldwide. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Drivers

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 forecast period.

Significant Market Trends

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.

Major Market Challenges

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.

Market Segmentation

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.

By Application

The market share growth by the dog 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 73.00 billion in 2017 and continued to grow until 2021. 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. v

Regional Analysis

North America is estimated to contribute 42% 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.

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.

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The region's pet service sector, which offers goods for healthcare, grooming, and accessories, has deterred customers from investing in brand-new facilities for their pets. As modern pet owners are more likely to give their animals the best care possible, pet grooming services are becoming more and more popular. Despite being a rapidly growing attraction, the grooming sector of the pet service industry has historically grown at the fastest rate and will continue to do so in the years to come. As a result, during the forecast period, the demand for pet insurance in the regional market is expected to grow along with the demand for protein and other supplements in animal food. Hence, all these factors will boost the regional market growth during the forecast period. 

Who are the Major Market Companies?

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 growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 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.

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.

Market Analyst Overview

The market is witnessing significant growth, driven by trends like pet humanization and increased consumer spending on household companions. Various pet-care categories, including feeders, bowls, and waterers, cater to the needs of little pets, reflecting the expansion of the pet sector. Cultural shifts, accelerated by shelter-in-place orders and work-from-home advice, have led to a surge in pet adoptions and fostering, especially among Generation Z consumers transitioning into adulthood. The pet care industry emphasizes responsible pet ownership, focusing on companion animal preventive care. Lifestyle upgrades, such as pet furniture tailored for flats and apartments, address the needs of single-person households, marking a shift towards more pet-friendly living environments. Environmental concerns prompt the adoption of sustainable materials and recyclable materials, exemplified by companies like Neo Bites, a carbon-negative dog food company, reshaping the market's revenue share while promoting eco-conscious choices.

Internet purchases have reshaped pet-care, offering convenience for busy pet-owning households. As pet-loving lifestyles evolve, baby boomers and modern generations alike seek sustainable alternatives, mindful of the ecological footprint of traditional pet-products. Heightened awareness of pet health issues drives demand for eco-friendly materials, while pets combat loneliness and promote activity. This fosters a surge in pet services like pet sitting and dog walking, catering to diverse needs. The evolving pet market embraces innovation and customization, promising a dynamic future for pet owners and their companions.

The market encompasses a wide range of offerings spanning household and pet-care categories tailored to the needs of companion animals. With a growing emphasis on animal welfare, pet shelters and technologically-enabled animal care products play pivotal roles. In response to concerns about climate change, there's a surge in demand for eco-friendly pet products, featuring ingredients such as meat, meat byproducts, grains, and cereals fortified with vitamins and minerals. Consumers prioritize quality pet food with clean labeling, supported by home delivery services and online stores. The market also witnesses increased spending on grooming products and veterinary care, reflecting a dedication to ensuring the well-being of beloved pets.

Segment Overview

The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook
  • Dogs
  • Cats
  • Others

• Product Outlook
  • Food
  • Accessories
  • Grooming

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Scope
Market Report Coverage	Details
Page number	168
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6%
Market growth 2023-2027	USD 72.82 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	5.75
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 42%
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 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 forecast period
Customization purview	If our market analysis and report market growth and forecasting 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth drivers of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, APAC, Middle East and Africa, and South America
• Our market trends and analysis report covers a thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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