NEW YORK, Nov. 5, 2023 /PRNewswire/ — The pet care market is set to grow by USD 72.82 billion from 2022 to 2027. The market is estimated to be progressing at a CAGR of 6% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing popularity of customization in pet care products is an emerging trend in the pet care market growth. Customers are drawn to the variety of pet care products that market competitors are developing and the majority of businesses allow customers to customize their pet care products. The design, color, size, raw material, style, and shape can be changed, according to the needs of pet owners. To meet the unique needs of each customer in the global market features like unique decorations and bedding, portability, personalized accessories, built-in storage space, food and drink holders, seating arrangements, type of raw materials, and other appealing features can be added. Hence, such emerging trends fuel the market growth of pet care products during the forecast period. – Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!
Technavio has announced its latest market research report titled Global Pet Care Market 2023-2027
The pet care market covers the following areas:
Pet Care Market Sizing
Pet Care Market Forecast
Pet Care Market Analysis
The report on the pet care market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Pet Care Market 2023-2027 – Market Dynamics
Key drivers
The market is driven by the increasing pet ownership. This is because of the fact that more people are choosing to keep pets for a variety of reasons recently. The demand for pet care goods and services rises along with the number of pet owners. Pets receive the same level of care and consideration as people as well as being treated as members of the family. To make sure that their pets are well taken care of, pet owners are willing to spend more on pet care goods and services. The market for pet care is estimated to continue to expand as a result of this trend, which is predicted to continue. Therefore, such factors have led to an increase in demand for pet care products and services, which is expected to drive the growth of the global market during the forecast period.
Key Challenges
The increasing competition for pet care products globally is a major challenge that may hinder market growth.
The global market is extremely competitive with a large number of players that provide a diverse range of goods and services.
The development of e-commerce platforms has made it simpler for new players to enter the market and compete with established brands.
This is the main factor fueling increased competition in the global market. Businesses have to compete not only with local retailers but also with international players with significant resources and economies of scale as a result of the growth of online marketplaces.
Hence, such challenges impede the growth of the pet care market during the forecast period.
What’s New?
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial - Buy the report!
Pet Care Market 2023-2027 : Market Segmentation
This pet care market report extensively covers market segmentation by application (dogs, cats, and others), product (food, accessories, and grooming), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The market share growth by the dog segment will be significant for overall market growth during the forecast period. Dogs make up a significant portion of the global pet care market that is currently experiencing growth. Businesses cater to a variety of dog-related categories, which includes food, grooming, healthcare, and accessories. Moreover, dogs are thought to reduce stress, anxiety, and depression, encourage activity, and enhance cardiovascular health and parents frequently keep dogs as pets to teach their children responsibility, the value of kindness, and the importance of sharing. Hence, the segment is expected to grow with an increase in demand for pet dogs in the global market during the forecast period.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
Companies Mentioned
ABP Food Group Ltd.
Agrolimen SA
Aller Petfood Group AS
Ancol Pet Products Ltd.
Beaphar Beheer BV
Champion Petfoods Holding Inc.
Colgate Palmolive Co.
Doskocil Manufacturing Co. Inc.
General Mills Inc.
heristo aktiengesellschaft
Mars Inc.
Monge and C Spa
Nestle SA
Pets Choice Ltd.
saturn petcare gmbh
Schell and Kampeter Inc.
Tail Blazers
The J.M Smucker Co.
Unicharm Corp.
United Petfood Producers NV
Vendor Offerings
Aller Petfood Group AS – The company offers pet care under the brand Affinity Petcare.
Beaphar Beheer BV – The company offers pet care such as Paw Spray, Fly Guard, Fly Free, Anti Mange.
Champion Petfoods Holding Inc. – The company offers pet care under the brand Orijen, Acana.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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