Pet Care Market – Global Industry Analysis and Forecast (2023-2029)

Pet Care Market was valued at USD 236.02 Billion in 2022, and it is expected to reach USD 345.61 Billion by 2029, exhibiting a CAGR of 5.6 % during the forecast period (2023-2029)
Market Overview:
On a global scale, the pet care market is dominated by pet health care and pet food. Pet owners are purchasing high-quality food and innovative grooming items to care for their domestic pets. This has greatly increased the spending limit of pet owners in the business, contributing to the global market's growth. Because of changing cultural and socioeconomic reasons, pet owners are increasingly recognising their dogs as family members, and the market is expected to develop significantly. In addition to the above factors, the rising disposable income of pet owners in the middle income bracket and the growing trend of nuclear families are expected to build a solid basis for the market's growth. The pet care market may face certain challenges in its expansion due to rigorous cultural and regulatory laws, an increase in pet allergies, and growing pet care product prices.To know about the Research Methodology :- Request Free Sample Report

The increasing trend of pet humanization is expected to enhance consumer expenditure in the home and pet care sectors. People are increasingly adopting cats, dogs, and other pets because they are simpler to humanise and pamper than larger animals. They are prepared to spend a lot of money to provide their dogs the greatest possible living environment. As a result, pet care items such as feeders, bowls, and waterers have gained popularity. The great majority of pet owners consider their pets to be part of their family.

Pet care products are becoming more popular as people get more information about animal welfare and well-being. Animal care items are classified into several categories, including food, cleanliness, toys, and others. Mars Incorporated, Nestle S.A., and other prominent animal food firms are focused on delivering nutritional and calorific value in their products. In order to entice pet owners, they are now selling delicious animal food. For example, Champion Petfoods LP debuted ORIJEN small breed, a wild-fish captured & flavoured recipe-based dog food item in the United States market in February 2020.
Research Methodology
The research report highly depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalised, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast.

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 Dynamics
Shifting Trends Towards Pet Dietary Food Items & Subscription-based Pet Toys:

Obesity is becoming more prevalent among pet dogs all around the world. This is expected to promote sales of pet dog dietary food items designed to keep them healthy. According to a new study, dogs are becoming overweight as a result of poor dietary habits. Changes in animal owners' preferences for feeding plant-based and healthful meals to their pets are also expected to stimulate demand for vegan animal food items. Aside from that, the growing popularity of premium service dog and cat toys among pet owners is expected to increase demand for pet dog and cat toys. Rising demand for high-quality animal hygiene products will drive market growth in the coming years.

Ever-increasing Spending on Pet Care Products across Geographies:

People's growing expenditure on pet care items such as food, healthcare, grooming, and others is expected to stimulate consumption, hence promoting pet care market growth. Furthermore, the development of pet care store infrastructure in numerous nations throughout the world is expected to increase consumption of pet-related items, hence boosting market expansion. Having a cat is regarded a status symbol in upper-class communities. As a consequence of changing lifestyles among the global population, demand for cat care products is expected to rise.



Pet Humanization Trend Driving Demand for Pet Grooming & Accessories:

The pet humanization trend is helping market growth by increasing pet owners' interest in treating their dogs as family members. Because larger pets require more maintenance than smaller pets, urbanisation is driving people into smaller places where larger pets are not appropriate. Because of this, little pets are considerably more likely than larger creatures to be petted and humanised. There are natural, higher-quality, and safer pet care products on the market.

With an increasing global demand for luxury pet grooming products, several firms are attempting to manufacture high-quality pet care products in order to gain a large market share. The popularity of pet fashion among pet owners has a positive influence on the business and is expected to lead to significant market growth during the forecast period. This encourages market participants to launch a flurry of unique and tailored pet grooming solutions. The pet humanization wave is boosting market growth, with numerous manufacturers investing heavily in R&D to produce new and creative products.

Introduction of Personalized Pet Grooming Services: With an increasing emphasis on climate change, more environmentally friendly pet items will be introduced to the market throughout the projection period. Pet owners are becoming increasingly conscious of their pets' carbon "pawprint." Furthermore, almost half of millennials and Generation Z choose environmentally friendly companies. The growing popularity of pet fashion among pet owners has a positive influence on the industry and is expected to lead to considerable market growth during the forecast period. Some pet owners are quite particular about how their dogs represent their lifestyles by buying them comfortable and luxurious stuff. This forces market rivals to launch a flurry of novel and individualised pet grooming service products.

High Cost of Prime-quality Pet Care Services:

The rising expense of high-quality pet care products is expected to limit demand among people with lower incomes. Furthermore, the unknown occurrence of animal-borne diseases such as stomach discomfort, diarrhoea, and others to owners as a result of their dogs' filthy living habits is predicted to hinder market expansion. Furthermore, firms' profit margins are expected to be impeded by confusing rules governing the labelling and advertising of pet care products.
Pet Care Market Segment Analysis
Based Pet Type, the dogs segment accounted for about 40% of the market share in 2022. The most popular pets are dogs, followed by cats. Dogs are well-known for alleviating anxiety, stress, and depression, as well as loneliness, promoting cardiovascular health, and encouraging exercise, all of which add to their appeal. People who live in flats and apartments and do not have a yard or porch where their dogs may dwell frequently choose pet furniture. Because of these characteristics, this category is expected to increase market growth. However, the cat pet type sector is expected to grow at a quicker CAGR of 5.2% between 2022 and 2030. Cats are the favoured form of pet in high-population-density countries and cities with tiny populations, such as Indonesia and Malaysia, where cat ownership (47% and 34%, respectively) outnumbers dog ownership (10% and 20% respectively).

Based on Product Type, the highest share of the pet food category is linked to the high demand among owners for tasty and healthy food items for their daily feeding needs. According to the European Pet Food Industry Association (FEDIAF), sales of pet food products in Europe reached approximately 8,500 million tonnes in 2019. Furthermore, people's easy access to a range of animal food items results in higher income production from this market. The rising commercial settings associated to animal veterinarian care clinics in many nations throughout the world are driving the consumption rate of animal vet-related items, resulting in faster expansion of the veterinary care segment.

According to the American Veterinary Medical Association, there were over 95,000 veterinary medical groups in the United States in 2019. Furthermore, rising public awareness of the importance of health care and cleanliness is expected to fuel segmental expansion. Other segments, such as pet grooming and hygiene, toys, and so on, are largely driven by rising consumer knowledge of the availability of animal care items. Furthermore, increasing consumption of on-demand video content related to pet grooming and cleanliness is expected to support segmental growth.

During the forecast period, the pet care services sector is expected to expand at the quickest rate. The veterinary clinics sector retained one of the largest market shares in the pet care services category in 2022, owing to the corporatization of veterinary clinics and the formation of veterinary clinic chains that improve access to excellent veterinary services. Furthermore, veterinary clinic investments are expanding, allowing veterinarians to provide advanced therapies to pet owners. Furthermore, several private pet care companies, such as Mars, Inc., are increasing their investments in veterinarian clinics to better serve pet owners.

Based on Distribution Channel, the offline segment, including the pet stores and supermarkets, is expected to exhibit the largest share of the global market due to the availability of various pet products at these stores. Furthermore, expanding infrastructural setups associated to pet stores are projected to promote the consumption rate of pet items from these stores, consequently supporting segmental expansion. For example, Pet Lovers Centre (PLC), Singapore's largest pet retail chain, opened two additional outlets in the Philippines in October 2019.

The rising popularity of online subscription-based services connected to animal feeding items among pet owners globally is ascribed to the fastest development of an online category. This will drive online product sales via subscription-based services, resulting in segmental growth. Companies can now easily track the sales success of several categories of pet items from their e-commerce sites. This helps businesses to expand their operations via the internet channel mode, resulting in segmental revenue growth.
Pet Care Market Regional Insights
The biggest proportion of the North American region is linked to the considerable spending of the Canadian and United States populations on pet care products and services, which results in higher revenues from such items from the North America area. According to statistics from the Government of Canada's Statistical Department, Canadian household expenditure on pet insurance, veterinarian, and other associated services reached USD 2,720 million in 2019, up from USD 2,550 million in 2018. Furthermore, the region's significant pet owners' need for premium quality items for their pets results in higher income creation from such products.

The Asia Pacific region's rapid growth may be ascribed to the increasing presence of significant firms like as Mars Incorporated, Nestle S.A., and others in manufacturing sites in countries such as India and China. This is anticipated to make it easier for enterprises in the Asia Pacific area to supply such items. Nestle S.A., for example, invested USD 103.2 million in May 2020 to debut its two manufacturing facilities of pet products in China. Furthermore, the region's growing middle-class population is expected to drive market expansion.

Because of the enormous presence of infrastructure settings associated to pet stores and veterinarians in the European region, the European region is predicted to develop at a significant rate for the worldwide industry. This is anticipated to facilitate the provision of large quantities of animal accessories and food products to pet owners, consequently encouraging market growth in the region. According to the European Pet Food Industry Association, there were 200,000 doctors and 60,000 specialist pet businesses in Europe in 2019.

Furthermore, the presence of more pet cats in households in countries such as Portugal, Germany, and France leads in a higher consumption rate of cat food products among such families in the region. According to data published by the Central Association of German Zoological Companies, there were 14.7 million pet cats in German households as of 2019. A significant portion of the South America area is linked to the vast presence of aquaculture-related production facilities in countries such as Brazil and Chile, leading in more massive profits from such facilities in the region. According to the Food and Agricultural Organization of the United Nations (FAO), inland water capture production output in Brazil reached 0.22 million tonnes in 2018.

Furthermore, increased hygiene and cleanliness awareness among the Middle Eastern and African populations is expected to fuel demand for dog tissues, cat litters, pet deodorizers, and other pet hygiene and grooming related goods among Middle Eastern and African homes.

Report Scope:

The Pet Care Market research report includes product categorization, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the most recent dynamic analysis, among other things. The study discusses the worldwide market's drivers, opportunities, and limitations. It discusses the influence of various drivers, trends, and constraints on market demand during the forecast period. The research also outlines market potential on a global scale.

The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of significant Pet Care Market firms in terms of production bases and technologies. The more precise research also contains the key application areas of market and consumption, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an analysis of the industry chain relationship. This report's study also contains product specifications, manufacturing processes, cost structure, and data information organised by area, technology, and application.
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Global Pet Care Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 236.02 Bn.


Forecast Period 2023 to 2029 CAGR:
5.6%
Market Size in 2029:
US $ 345.61 Bn.


 Segments Covered:
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, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Pet Care Market Key Players
1. Ancol Pet Products Limited
2. Blue Buffalo Pet Products Inc.
3. Central Garden & Pet Company
4. Champion Pet Foods
5. Heristo AG
6. Kong Company
7. Mars Inc.
8. Nestle S.A.
9. Petco Animal Supplies Inc.
10.Petmate Holdings Co.
11.PetSmartInc.
12.The Colgate-Palmolive Company
13.PetSmart Inc.
14.Trupanion
15.Freshpet
16.Zoetis Inc.
17.Mars Incorporated
18.Hill’s Pet Nutrition, Inc.
19.The J.M. Smucker Company
20.Diana Group
Frequently Asked Questions:
1] What segments are covered in Global Pet Care Market report?
Ans. The segments covered in Global Pet Care Market report are based on Type, Product Category, and Distribution Channel.

2] Which region is expected to hold the highest share in the Global Pet Care Market?
Ans. North America is expected to hold the highest share in the Global Pet Care Market.

3] Who are the top key players in the Global Pet Care Market?
Ans. Ancol Pet Products Limited, Blue Buffalo Pet Products Inc., Central Garden & Pet Company, Champion Pet Foods, Heristo AG, and Kong Company are the top key players in the Global Pet Care Market.

4] Which segment holds the largest market share in the Global Pet Care market by 2029?
Ans. Dog Care segment hold the largest market share in the Global Pet Care market by 2029.

5] What is the market size of the Global Pet Care market by 2029?
Ans. The market size of the Global Pet Care market is US $ 345.61 Bn. by 2029.

6] What was the market size of the Global Pet Care market in 2022?
Ans. The market size of the Global Pet Care market was worth US $ 236.02 Bn. in 2022