A recent report published by
Infinium Global Research on pet care market provides in-depth analysis of
segments and sub-segments in the global as well as regional pet care market. The
study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional pet care market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of global pet care market. According
to the report, the global pet care market is projected to grow at a CAGR of
5.4% over the forecast period of 2019-2025.
The pet care market comprises of
the products and services such that keep pets healthy and happy. These include
food, toys, daycare, beds, cages, medical services and a lot more. These products
are usually specific to the type of animal and are typically sold in pet stores
and supermarkets. Apart from food and medical health, grooming, training and
providing complete wellness to the pet is also a part of pet care.
The pet industry is booming and is
anticipated to rise continuously. The major reason for the growth of the pet
care industry is the humanization of pets. The growing trend among pet owners
to treat their cats, dogs and even small mammals like members of their family
and growing demand among pet owners to provide their pets with human-like
products or experiences are highly contributing to the growth of the pet care
industry. In addition, the growing adoption of pets in nuclear families has
resulted in substantial development of the pet care industry. On an average
600,000 pets are adopted every year.
Furthermore, growing disposable
income, increasing spending power, easy availability of pet care products and increased acceptance of pets among
the millennials are some factors that are promoting the growth of the pet care
industry. However, the high cost of pet
care products and services are likely to restrain the growth of the pet care
market in some low-income regions. Besides, the growing migration of pet owner
towards online channels is encouraging
e-commerce giants such as Amazon,
Walmart, Chewy.com, and PetCo into pet care industry that is anticipated to
facilitate the growth of the pet care market over the forecast period.
Moreover, the emergence of pet care
services and natural pet care products catering to the wellness and health of
pets are creating fruitful opportunities for the
market growth.
Among the regions, the North America region holds the largest share in
the total addressable market. In the U.S., according to the National Pet Owners A survey conducted by the American Pet Products Association,
68% of U.S. households or about 85 million families own a pet. The increasing
disposable income, the high spending capacity of the people in this region
drives the growth of the North America pet care market. In 2017, $69.51 billion
was spent on pets in the U.S. Additionally; the presence of several pet stores
and major pet care product manufacturers in North America contributes heavily
to the growth of the pet care market in this region. Furthermore, companies
such as PetSmart and PetCo stand out in terms of pet care sales in the US. The Asia Pacific is anticipated to grow at the
fastest rate over the forecast period. The growing adoption of pets, the growth
of the disposable income in nuclear families and growing online retail are contributing to the growth of the
Asia Pacific pet care market.
The report on global pet care market covers segments such as
type, and product. On the basis of type, the sub-markets include dog, cat,
fish, bird, and other types. On the basis of product, the sub-markets include
pet food, veterinary care, OTC/supplies, live animal purchase, and pet
grooming/boarding.
The report provides profiles of
the companies in the market such as Colgate-Palmolive Company, Nestlé, Spectrum
Brands, The J.M. Smucker Company, Mars, Incorporated, Unicharm Corporation,
PetSmart Inc., PetCo Animal Supplies, Ancol Pet Products Ltd, Pet Wants, and
Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of pet care market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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