PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535829
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535829
Global Pet Accessories Market is poised for significant growth, with an anticipated 7.7% CAGR from 2024 to 2032. This growth is driven by increasing pet ownership and a rising demand for innovative and high-quality pet products.
According to the 2023-2024 National Pet Owners Survey by the American Pet Products Association (APPA), around 66% of U.S. households, or about 86.9 million families, own a pet. This marks an increase from 56% of U.S. households in 1988, the year the survey was first conducted. As more households adopt pets and prioritize their well-being, the market for pet accessories is expanding rapidly.
The overall pet accessories market is categorized based on Product Type, Pet Type, Price Range, Distribution Channel, and Region.
The Apparel and Clothing segment, a key component of the pet accessories market, will record substantial growth over the forecast period. With pet owners increasingly treating their pets as family members, there is a heightened demand for stylish and functional pet apparel. This includes everyday clothing, seasonal wear, and specialized outfits for various occasions. Innovations in fabric technology and design, coupled with rising consumer spending on pet comfort and fashion, are driving the expansion of this segment. Enhanced focus on personalized and customized pet clothing also contributes to its growth.
The Cats segment will capture a significant share of the pet accessories market by 2032. As the popularity of cats as pets continues to rise, the demand for cat-specific accessories, such as beds, toys, grooming tools, and scratching posts, is also increasing. Pet owners are seeking products that cater specifically to their cats' needs, promoting their health and well-being. The segment's growth is supported by trends in premium pet care products and the increasing recognition of the importance of enriching cats' environments.
Europe pet accessories market will experience robust growth throughout 2024-2032, fueled by a well-established pet care industry, high levels of pet ownership, and significant investments in pet product innovation. European consumers are known for their high standards regarding pet care, driving demand for quality and safety in pet accessories. Additionally, the presence of leading pet accessory manufacturers and strong distribution networks further bolsters market expansion. Government initiatives supporting animal welfare and pet ownership also contribute to the market's positive outlook in the region.