Pune, 25, Nov 2022: The market is expected to grow from USD 223.50 Billion in 2021 to USD 345.61 Billion in 2029, at a CAGR of 5.61 percent over the forecast period from 2022 to 2029, according to the “Pet Care Market” research released by Maximize Market Research. One of the primary factors propelling the market for Welded Pet Cares is the rise in the rate of industrial growth in developing countries of APAC.
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Pet Care Market Scope and Research Methodology
Primary and secondary data sources both play a significant role in the study report. In the research process, various industry-affecting factors are examined, including governmental regulations, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, technical advancement in related industries, as well as market risks, opportunities, barriers, and challenges. All possible factors that could have an impact on the markets covered by this research study have been taken into account, thoroughly studied, verified through primary research, and reviewed to provide the final quantitative and qualitative data. The market forecast takes into account the influence of variables such as inflation, economic downturns, regulatory & policy changes, and other factors in addition to normalizing the market size for top-level markets and sub-segments.
This data is combined and added with detailed inputs and analysis, and presented in the report. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive market engineering and calculations for market statistics; market size estimations; market forecasts; market breakdown; and data triangulation. Bottom-up technique is widely employed in the whole market engineering process, along with multiple data triangulation methodologies, to perform market estimation and forecasting for the overall market segments and sub-segments covered in this research.
Pet Care Market Overview
Pet food and pet health care are the two industries that dominate the global pet care market. Pet owners buy premium food and cutting-edge grooming supplies to take care of their domestic animals. Due to this, pet owners’ ability to spend has significantly expanded in the industry, fuelling the development of the global market. Dog owners are increasingly considering their dogs to be members of their families due to shifting socioeconomic and cultural factors, and the industry is expected to grow dramatically. Along with the aforementioned elements, it is expected that the rising disposable income of pet owners in the medium income range and the rising trend of nuclear families would create a strong foundation for the market’s growth. Due to strict cultural and legal restrictions, an increase in pet allergies, and rising pricing for pet care products, the pet care sector may face some challenges as it grows.
Pet Care Market Dynamics
Obesity is becoming more common among pet dogs all around the world. This is expected to boost interest in and sales of healthy pet dog food products. A recent study found that dogs’ bad eating habits are to blame for their weight gain. Demand for vegan animal food products is also expected to rise as pet owners begin to want to offer their animals healthy, plant-based diets. In addition, it is anticipated that demand for pet dog and cat toys will rise as a premium service dog and cat toys become more and more well-liked among pet owners. In the upcoming years, increasing demand for high-quality animal hygiene products will propel new markets.
Pet Care Market Regional Insights
North America held the largest market share of 45% in 2021. The largest share of the North American region is related to the significant amounts of money that the populations of Canada and the United States spend on pet care goods and services, which leads to larger earnings from such products from the region of North America. Statistics from the Statistical Department of the Canadian Government show that Canadian household spending on pet insurance, veterinary visits, and other related services increased to USD 2,720 million in 2019 from USD 2,550 million in 2018. Additionally, the region’s large population of pet owners drives up the price of such things because of the need for high-quality items for dogs.
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Pet Care Market Segmentation
By Distribution Channel:
- Offline retail stores
- Online retail stores
By Type:
- Dog Care
- Cat Care
- Fish Care
- Bird Care
- Others
By Product Category:
- Pet Food
- Pet grooming/boarding
- Accessories
- Others
Pet Care Market Key Competitors:
- Ancol Pet Products Limited
- Blue Buffalo Pet Products Inc.
- Central Garden & Pet Company
- Champion Pet Foods
- Heristo AG
- Kong Company
- Mars Inc.
- Nestle S.A.
- Petco Animal Supplies Inc.
- Petmate Holdings Co.
- PetSmartInc.
- The Colgate-Palmolive Company
- PetSmart Inc.
- Trupanion
- Freshpet
- Zoetis Inc.
- Mars Incorporated
- Hill’s Pet Nutrition, Inc.
- The J.M. Smucker Company
- Diana Group.
Key questions answered in the Pet Care Market are:
- What is Pet Care?
- What is the growth rate of Pet Care Market over the forecast period?
- What is the nature of competition in Pet Care industry in developed economies and developing economies?
- Who are the key players in the Pet Care Market?
- Who are the market leaders in Pet Care in Europe
- Who are the market leaders in Pet Care in USA and Canada
- Who are the market leaders in Pet Care in India, China, Japan and South Korea?
- What are the factors affecting growth in the Pet Care Market?
- Who held the largest market share in Pet Care Market?
- What are the factors for the growth of Asia-Pacific region in Pet Care Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Distribution Channel, Type, Product Category and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Raw Pet Food Market – The Raw Pet Food Market accounted for USD 130.55 billion in 2021 and is expected to reach USD 195.84 billion by 2029 at a CAGR of 5.2 % during the forecast period. The Raw Pet Food Market is expected to be driven by Veganism it is expected to drive people toward meat alternatives and plant-based foods
Pet Insurance Market –The Pet Insurance Market size was valued at USD 5.26 Bn. in 2021 and the total revenue is expected to grow at 16.5% from 2022 to 2029, reaching nearly USD 17.86 Bn. The Automotive Heat Exchanger Market is expected to be driven by a number of companion animals would boost the demand for veterinary care facilities. Veterinary services are expensive because they necessitate the hiring of veterinary doctors, competent technicians, and specifically developed diagnostic equipment.
Pet Furniture Market – The Pet Furniture Market size was valued at USD 5.2 Bn. in 2021 and the total revenue is expected to grow at 6.1% from 2022 to 2029, reaching nearly USD 8.35 Bn. Pet Furniture will encourage a great deal of transformation in the Furniture and Home Decor Industry. The Pet Furniture Market is expected to be driven by the trend of introducing and keeping dogs in offices has been growing recently
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