Pet Care Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Pet Care Market 
Industry / Sector Trends

Pet Care Market size was valued over USD 190.1 billion in 2018 and is expected to witness 5.2% CAGR from 2019 to 2025.

U.S. pet care market, by product, 2018 & 2025 (USD Million)

Growing pet adoption for companionship has led to increase in spending on pet care. Also, high disposable income and rising prevalence of zoonotic diseases has augmented spending on pet animal healthcare. Majority of pet owners consider their pet as a family member; hence they undertake numerous efforts to take proper care of their pets. According to recent data, nearly 68% of households in the U.S. at present have a pet. Hence, above mentioned factors will be responsible for the growth of pet care market over the forecast period.

Increase in pet adoption across the globe will be a major factor driving the business growth in the near future. There were around 7 million pet animals in India in 2006 which grew to 10 million in 2014. Growing usage of pets in films and ad campaigns has triggered the notion of pet adoption among general population. Furthermore, pet fair trades including the India International Pet Trade Fair (IIPTF) showcasing wide range of pet care products will positively impact industry growth.

However, high cost associated with pet care is one of the major growth impending factors. As per the American Pet Products Association (APPA), in 2017, pet care expenditure in America reached to 70 billion USD. It has been estimated that major chunk of the expenditure is associated with pet foods. As owners are comparatively more concerned about their pets health, they tend to invest in food products that are nutritious and healthy.

Market Segmentation, Outlook & Regional Insights: Pet Care Market

Pet Care Market, By Type

Germany pet care market share, by type, 2018

Pet food market was valued at USD 81,241.7 million in the year 2018.  Growing pet ownership, especially in developed nations will highly impact the adoption rate of pet food over the future years. Moreover, rising expenditure on pet care will offer high growth potential to the market. As per the American Pet Products Association, the U.S. population spent approximately USD 72.5 billion in the year 2018 as compared to 69.5 billion in 2017. Hence, increase in number of pet adoption and pet care expenditure will augment the business growth in the near future.

The global pet care services market is projected to witness a considerable growth at 7.8% owing to rising pet care service centers across the globe as well as increasing demand for pet adoption. In the recent years, positive cultural change among the population regarding pet adoption has fueled the global pet care services market. Pet care services include grooming/boarding and live animal purchase services. These services are provided with an aim to take proper care of pets in absence of their owners. Hence, growing rate of pet humanization and adoption will result in boosting the pet care services market over the upcoming years.

 Pet Care Market, By Animal

Dogs pet care market was valued at USD 81,618.5 million in the year 2018.  Growing adoption of dogs for companionship coupled with increasing expenditure for dog health will boost market growth in the future. Growing disposable income in developing economies and launch of advanced dog specific products will spur segment growth during the forecast timeframe.

Birds pet care market is estimated to grow at 6.3% over the forecast period. Birds are preferred as pets or companion animals owing to their brilliant colors, ability to communicate, intelligence and graceful aerial skills. One of the major reasons for adopting birds as pets is companionship. More than 190 million birds are adopted as pets in Brazil. Birds act as one of the major stress relievers. Growing adoption of birds as companion animals will drive market for bird care products in the future.

 Pet Care Market, By Distribution Channel

Distribution via stores held majority market share and was valued at USD 130,216.3 million in the year 2018. Pet stores segment is expected to witness steady growth during the forecast timeframe owing to increasing expenditure on pet care coupled with growing adoption of cats, dogs, fish and other species as companion animals. For instance, as per the American Pet Products Association (APPA) estimates, in 2018, pet care spending in America reached up to USD 72 billion. Hence, increase in number of people opting for pet adoption will ultimately result in growing distribution of pet care products via stores, thereby augmenting the market growth.

Distribution via e-commerce segment such as online retailers and websites is estimated to grow rapidly at 9.4% over the estimation period. Preference for e-commerce websites for pet care products is growing among pet owners as they are willing to spend more on pet care and grooming products. Also, various pet care brands are opting to sell their products online as they get a greater number of customers online. Hence, the distribution or sales of pet food and pet care products via e-commerce is estimated to grow significantly in the near future.

 Pet Care Market, By Region

Europe pet care market, by country, 2025 (USD Million)

U.S. dominated the North America pet care market and was valued at USD 72,140.0 million in the year 2018. As per the National Pet Owners Survey 2017-2018, around 68% of the American households own a pet. Also, increase in humanization of pets along with several pet grooming services available will result in boosting the country market growth. Numerous established and new market players in the region along with increasing initiatives to expand their footprint in the pet care industry will highly impact the business size.

China pet care market is estimated to show fastest growth at 14.0% over the estimation period. As per the recent research article, the total number of pet dogs and cats in China exceed around 90 million currently. Also, the number of people opting for pet adoption is increasing at a rapid rate in China, resulting in boosting the business growth.

Key Players, Recent Developments & Sector Viewpoints: Pet Care Market

Major industry players involved in the pet care market include Nestle S.A., Mars, Colgate-Palmolive Company, PetSmart Inc. and Petco Animal Supplies, among other market players. These industry players have incorporated certain strategic initiatives such as new product launches, collaborations, acquisitions that have enhanced their financial stability and helped them evolve as major industrial players.

Pet Care Industry Viewpoint

Pet care industry is growing and changing at a significant rate on a global level. The major reason for the growth of pet care market is due to growth in pet population, increase in trend of pet humanization along with growing demand of pet care in developed and emerging markets. Major pet care business segments include pet food, pet products, and pet services. Pet food is estimated to have a future focus on old and obese pets; whereas pet products will have more technological implementations in the future. Over the last few years, the sales of pet care products has increased, that has resulted due to increase in the pet population, greater variety of diets, increase in use and consumption of pet food along with the benefits and value for money that pet foods offer. Scientific advancements in pet nutrition and medicated food has resulted in increase in demand and adoption rate of pet foo

Key Insights Covered: Exhaustive Pet Care Market

1. Market size (sales, revenue and growth rate) of Pet Care industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Pet Care industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Pet Care industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Pet Care industry.

Research Methodology: Pet Care Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.