A recent report published by Infinium Global Research on pet furniture market provides in-depth analysis of segments and sub-segments in the global as well as regional pet furniture market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pet furniture market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global pet furniture market. According to the report, the global pet furniture market is projected to grow at a CAGR of 6.9% over the forecast period of 2019-2025.
Nowadays people treat their pets as a family member. New innovations and designs in pet furniture are in high demand. Companies manufacturing pet furniture are focusing on mergers and acquisitions to expand their market share. Manufacturers are promoting high-quality products. Companies are adopting advent technology such as smart pet beds that can monitor the pet’s health. People are adopting pets and it is becoming a part of the societal lifestyle. As the American Pet Products Association, almost 85 million households have a pet.
The availability of a broad range of fashionable and multifunctional pet furniture drives the growth of the pet furniture market. The desire to provide pets a better lifestyle stimulates the pet owners to spend more on pet furniture that promotes the growth of the pet furniture market. The growing demand for customization in pet furniture stimulates the growth of the pet furniture market. Customization gives a personal touch to the pet furniture. Innovations such as smart pet bed contribute to the growth of pet furniture market. The rising number of pet adoptions fuels the growth of the pet furniture market. The rising awareness about animal welfare and strict rules and regulation regarding animal safety and welfare propel the growth of pet furniture market. On the other hand, the high costs of smart pet furniture hinder the growth of the pet furniture market. Moreover, development and innovations create new opportunities for the growth of the pet furniture market.
On the basis of geography, the global pet furniture market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have the largest share in the global pet furniture market. The increasing adoption of pets in the North America region contributes to the growth of the North America pet furniture market. Europe has a significant share in the pet furniture market. Asia-Pacific region is expected to grow in the furniture market with a healthy CAGR over the forecast period.
The report on global pet furniture market covers segments such as product type and application. On the basis of product type, the sub-markets include beds & sofas, houses, trees & condos, and other product types. On the basis of application, the sub-markets include cats, dogs, and other applications.
The report provides profiles of the companies in the market such as Go Pet Club LLC, North American Pet Products, PetPals Group, Inc., MidWest Homes For Pets, Inkgrid, Ware Pet Products, Inter IKEA Systems B.V., Nest Bedding, Ultra Modern Pet, Taizhou Huamao Handicraft Article Co., Ltd, 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 furniture 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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