Pet Care Market Overview:
The Pet Care Market size is estimated
to reach $253 billion by 2030, growing at a CAGR of 8.0% during the forecast
period 2023-2030. Pet care encompasses a vast range of services and products,
ranging from pet essentials like canned Pet Food and pet care clinics to luxury
pet grooming visits and pet accessories. Owners are now more focused on the
quality and specific nutritional requirements of their pets and they depict
the luxury of their pets as a symbol of their style statement. This combination
is set to be a definitive indicator of the bright future of the Pet Care Market.
Pet owners' co-dependence on their pets has led to a situation where, regardless of the cost, they agree with any product that makes their pets happy. Due to this trend of humanization of pets, high-end products like pet treadwheels and treadmills, smart feeders, GPS pet trackers, etc. are increasingly becoming mainstream. This aids significantly in the expansion of the pet care industry. Additionally, the rising popularity of organic and canned pet food items, which are on average almost 50% more expensive than conventional ones, is set to boost the pet care market's growth. This represents the Pet Care Industry Outlook.
Market Snapshot:
Pet Care Market - Report Coverage:
The “Pet Care Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Pet Care Market.
Attribute | Segment |
---|---|
By Pet Type |
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By Product Type |
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By Sales Channel |
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By Geography |
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COVID-19 / Ukraine Crisis - Impact Analysis:
- The pet frenzy was started by the pandemic and the Pet Care industry is anticipating long-term benefits from it. A study claims that since the pandemic started, spending on pet necessities has increased by 11% and is also becoming "increasingly inelastic," which bodes well for the market.
- Due to operational uncertainties and trade barriers, the Ukraine crisis has had a severe effect on the pet care market. This has led to a disparity between the worldwide supply and subsequent demand. It is because the nations that were the main exporters of Russian canned pet food now need to look for another possible market.
Key Takeaways:
The dominance of the North America Region
Dog Segment Holding Largest Pet Care Market Share
The dominance of the Pet Food Segment
Increasing Popularity of Premium Organic Food Brands
Entry of Pet Care Insurance Policies
Prevalence of Pet Related Allergies
Pet Care Market: Market Share
(%) by Region, 2022
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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions,
partnerships and collaborations are key strategies adopted by players in the Pet
Care Market. The top 10 companies in this market are:
- Mars Petcare, Inc. (Pedigree)
- Nestle Purina Pet Care (Purina felix)
- J.M. Smucker Company (9Lives ®)
- Cargill (Bestmin Gold)
- Unicharm Corporation (Unicharm Pet Deo-Toilet Refill Zeolite
Pellet)
- Spectrum Brands Inc. (DreamBone ®)
- Blue Buffalo Co. Ltd., (Blue Bits)
- Royal Canin SAS (Royal Canin Puppy Maxi)
- Hill’s Pet Nutrition, Inc. (Science diet)
- Petmate Holdings Co. (Aspen Pet)
Scope of Report:
Report Metric | Details |
---|---|
Base Year Considered | 2022 |
Forecast Period | 2023–2030 |
CAGR | Growing at the rate of 8.0% |
Market Size | 253 billion USD |
Segments Covered | Pet Type, Product Type, Sales Channel and Region |
Geographies Covered | North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America), the Rest of the World (the Middle East and Africa). |
Key Market Players | 1. Mars Petcare, Inc. 2. Nestle Purina Pet Care 3. J.M. Smucker Company 4. Cargill 5. Unicharm Corporation 6. Spectrum Brands, Inc. 7. Blue Buffalo Co., Ltd. 8. Royal Canin SAS 9. Hill’s Pet Nutrition, Inc. 10. Petmate Holdings Co. |