USD 222.93 Billion
Report ID: SQSG30C2037 | Region: Global | Published Date: October, 2022 | Pages: 157
Global Pet Care Market size was valued at USD 222.93 Billion in 2021, and it is expected to reach a value of USD 325.74 Billion by 2028, at a CAGR of 5.6% over the forecast period (2022 - 2028).
Pets are considered members of the family among the vast majority of pet owners. Pet care products are becoming more popular as people get more information about animal welfare and well-being. Animal care items are classified into several categories, including food, cleanliness, toys, and others. Mars Incorporated, Nestle S.A., and other prominent animal food firms are focused on providing nutritional and calorific value in their products. In order to attract pet owners, they are now selling delicious animal food. For example, Champion Petfoods LP debuted ORIJEN small breed, a wild-fish captured & flavored recipe-based dog food item in the United States market in February 2020. Further, companies developing their products by employing 100% natural components in their pet food offerings, as well as companies focusing on providing modern pet care gadgets and toys to attract clients and give enhanced pet fitness and health monitoring, are examples of new industry improvements, that are expected to drive the growth of the pet care market in the upcoming years.
Global Market Size
USD 222.93 Billion
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The global Pet Care market is segmented based on product type, pet type, distribution channel, and region. Based on the product type, the pet care market is segmented into pet food products, veterinary care, and others. Based on the pet type, the market is segmented into dog, cat, and others. Based on the distribution channel, the market is segmented into online and offline. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product Type
Based on the product type, the pet care market is segmented into pet food products, veterinary care, and others. Among these, the pet food segment of the market is projected to hold the most substantial share in the market. According to the European Pet Food Industry Association (FEDIAF), sales of pet food products in Europe reached approximately 8,500 million tons in 2019. Furthermore, people's easy access to a variety of animal food items results in higher income production from this market. Further, Obesity is becoming more prevalent among pet dogs all around the world. This is expected to promote sales of pet dog dietary food items designed to keep them healthy. According to a new study, pets are becoming overweight as a result of poor dietary habits. Changes in animal owners' preferences for feeding plant-based and healthy meals to their pets are also anticipated to stimulate demand for vegan animal food items. Aside from that, the growing popularity of premium service dog and cat toys among pet owners is expected to increase demand for pet dog and cat toys. Rising demand for high-quality animal hygiene products will drive market growth in the coming years.
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In 2021, North America is expected to have the biggest share of the pet care market. Among the region, the US pet care market is projected to hold significant share. One of the key factors in the region's supremacy is the high rate of pet adoption in American households. A poll by the American Pet Products Association (APPA) found that around 85 million American families, or 67% of all households in the country, have pets. The adoption of pet humanization and the favorable public perception of it in North America are fostering market expansion for wholesome pet food products. Further, according to data from the Government of Canada's Statistical Department, Canadian household expenditure on pet insurance, veterinarian, and other associated services reached USD 2,720 million in 2019, up from USD 2,550 million in 2018. Furthermore, the region's significant pet owners' need for premium quality products for their pets’ results in higher income creation from such products. In addition, the trend of treating pets as individuals is driving high spending on safe and sustainable pet food in Europe.
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The pet care market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in Global Pet Care Market are
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global pet care market is segmented based on product type, pet type, distribution channel, and region. Based on the product type, the pet food segment of the market is projected to hold the most significant share in the market. Based on the pet type, the dog segment of the market is projected to hold the most significant share in the market. Based on the distribution channel, the online channel segment of the market is projected to hold the most significant share in the market. Whereas, based on the region, the North American region of the market is projected to hold the most significant share in the market.
|Market size value in 2021||USD 222.93 Billion|
|Market size value in 2028||USD 325.74 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Pet Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pet Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pet Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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