PUBLISHER: Meticulous Research | PRODUCT CODE: 1504153
PUBLISHER: Meticulous Research | PRODUCT CODE: 1504153
Pet Care Market Size, Share, Forecast, & Trends Analysis by Offering (Pet Food & Nutrition [Dry Food, Treats, Vitamins, Supplements] Pet Products [Grooming {Shampoo, Conditioner, Brushes}, Oral Care] Pet Services) Sales Channel-Global Forecast to 2031
The pet care market is expected to reach $287.96 billion by 2031, at a CAGR of 5.9% from 2024 to 2031.
Following thorough secondary and primary research and in-depth analysis of the market scenario, the report discusses key industry drivers, restraints, challenges, opportunities, and trends.
The growth of this market is driven by rising expenditures on pet health & insurance, a surge in pet adoption rates, and increasing disposable incomes in developing nations. Additionally, the introduction of new pet product categories and a shift towards premium pet products are expected to create market growth opportunities.
Based on offering, the pet care market is segmented into pet food, pet products, and pet services. The pet food segment is projected to register the highest growth rate of 7.0% during the forecast period of 2024-2031. This segment's growth is driven by the increasing pet adoption rates in developing countries, a rising shift towards premium pet food products, growing awareness in developing nations regarding the nutritional value of pet food over homemade alternatives, and ongoing innovations by pet food companies in terms of ingredients, taste, and palatability.
Based on animal type, the pet care market is segmented into dogs, cats, fish, birds, and other animals. In 2024, the dogs segment is expected to account for the largest share of the pet care market. This segment's large market share can be attributed to the higher preference for dogs as pets compared to other animals.
Based on sales channel, the pet care market is segmented into offline and online. In 2024, the offline segment is expected to account for a larger share of the market. The online segment is projected to register a higher CAGR during the forecast period 2024-2031. This segment's growth is driven by factors such as the increasing number of smartphone users, initiatives by companies to establish their own e-commerce platforms for pet products, attractive discounts and offers provided by online stores, and the availability of subscription models for pet foods and other recurring pet care products.
Based on end user, the pet care market is segmented into pet owners, pet breeders & groomers, and veterinary professionals. In 2024, the pet owners segment is expected to account for the largest share of the pet care market. This segment's large market share can be attributed to the rising expenditures on pet health, a growing inclination of pet owners towards premium pet products, and the rising trend of pet humanization.
An in-depth analysis of the geographical scenario of the pet care market provides detailed qualitative and quantitative insights into five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is expected to account for the largest share of the global pet care market in 2024, followed by Europe and Asia-Pacific. However, the market in Asia-Pacific is projected to register the highest CAGR of 7.7% during the forecast period of 2024-2031. The growth of this market is driven by rising pet adoption rates, increasing demand for pet care products fueled by growing disposable incomes, growing awareness regarding companion animal health and well-being, and the increasing availability of pet care products from international brands within the region.
Key companies operating in the global pet care market are Mars, Incorporated (U.S.), Hill's Pet Nutrition, Inc. (U.S.), Blue Buffalo Company, Ltd. (U.S.), Ancol Pet Products Limited (U.K.), Saturn Petcare GmbH (Germany), Nestle S.A. (Switzerland), Doskocil Manufacturing Company, Inc (U.S.), The Hartz Mountain Corporation (U.S.), Tail Blazers (Canada), J.M. Smucker Company (U.S.), Petco Animal Supplies, Inc. (U.S.), A Place for Rover, Inc. (U.S.), American Pet Resort, LLC (U.S.), Wag Labs, Inc. (U.S.), Pooch Dog SPA (Italy), AirPets International (U.S.), Groomer's Choice (U.S.), Coastal Pet Products Inc. (U.S.), World 4 Pets Pty Ltd (Australia), SynergyLabs (U.S.), and 4-Legger, LLC (U.S.).
Pet Care Market Assessment-by Offering
(Other dog vitamins & supplements include optics & vision supplements, multivitamins, and general supplements)
(Other cat vitamins & supplements include anxiety, immunity, and general supplements & vitamins)
(Other dog care products include beds, litter boxes, collars, leashes, toys, and fashion accessories)
(Other cat care products include collars, toys, fashion accessories, and nail clippers)
(Other dog oral care products include mouthwash, additives, oral gels, oral care spray, and dental wipes)
(Other cat oral care products include mouthwash, additives, oral gels, oral care spray, and dental wipes)
(Other pet products include bird & small mammal cages, cage covers, tunnels & hideouts, nesting cages, exercising wheels, play toys, and terrariums)
Pet Care Market Assessment-by Animal Type
(Other animals include small mammals and exotic pets)
Pet Care Market Assessment-by Sales Channel
Pet Care Market Assessment-by End User
Pet Care Market Assessment-by Geography
(Note: SWOT analyses of the top 5 companies will be provided.)