Market Scenario
Global Pet Care Products Market 2020 size is touted to reach USD 115.25 billion in 2024 and mature at 5.25% CAGR by the end of 2024, according to MRFR.
Significant technological progress in pet treatment has been reported in recent years. Taking into account the welfare of pets and their requirements, few innovations have been developed, such as computerized feeders, pedometers etc. A variety of factors such as growing e-commerce strength, rising animal husbandry pattern, growing pet population and rising disposable incomes in middle-income groups are driving the growth of the pet care sector. The worldwide demand for pet care goods is projected to be guided by a variety of factors. The awareness of pet health by pet owners is one of the significant reasons why pet care products are growing. The increasing success of grain-free pet food items is considered one of the significant reasons for the rising demand for pet care goods. Given the growth of the global pet care industry, a range of factors such as increasing pet care goods costs, government-imposed tight regulations, and the possibility of allergy from animal-associated allergens will impede market growth over the evaluation span.
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Competitive Dashboard
General Mills, Inc. (US), Petco Animal Supplies, Inc. (US), PetSmart Inc. (US), Mars, Incorporated (US), Colgate-Palmolive Company (US),Petmate Holdings Co. (US), Nestle S.A.(Switzerland), KONG Company (US), Blue Pet Products, Inc.(US), Champion Petfoods LP (US), and Unicharm Corporation (Japan) are some of the key players in the Global Pet Care Products Market.
Industry Updates
August 2020 – Purina, Nestle’s pet care subsidiary, announced the achievement of its 2020 goal of zero waste for disposal across all manufacturing operations and its corporate headquarter, making pet care products sustainably.
Segmental Analysis
The global market for pet care products has been segmented according to product type, type of pet, mode of distribution and region.
The worldwide demand for Pet Care Products Market has been divided into pet foods, pet grooming products and others, depending on product type.
The worldwide demand for pet care goods has been divided into dogs, cats, and others according to the category of pet.
The worldwide demand for pet care goods has been split into store-based and non-store-based products, depending on the sales route. The sales channel segment centered on the store was further segmented into supermarkets & hypermarkets, convenience stores and specialty shopss.
Regional Overview
Europe was accountable for the largest market share of 30 per cent on the global demand for pet care goods in 2020 across the countries. Development for the region’s pet care products industry is expected to be powered by multiple factors. One of the main aspects for the rising growth of pet care goods is the growing safety awareness of pet owners about the dogs. Main suppliers of pet care products are located in European countries, thus production of pet care products in European countries is extremely high. Organic or herbal pet food items are gaining popularity around the globe among the pet owners in developing countries. Important pet food supplies suppliers are launching many organic pet foods to satisfy the unique needs of the pet owners. Germany is expected to maintain its dominance on the European pet care goods market over the prognosis period.
Nonetheless, during the analysis period Asia-Pacific is expected to develop at the fastest rate of growth. The pet population in emerging economies in countries such as India, China and Indonesia, along with the per capita disposable income among customers, are expected to be the key drivers in the the Asia-Pacific demand for pet care products.
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