Global Pet Care Market: By Pet Type (Dog, Cat, Fish, Bird and others), Product (Food and Products), and By Geographical Analysis (North America, Europe, Asia-Pacific, South America, Middle East & Africa)—Forecast till 2032

Description

Market Overview:

The global pet care market was worth USD 145.67 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030. The key factors propelling this growth are the growing trend of treating pets as family members and higher household and pet care product consumer expenses. Many individuals prefer adopting smaller pets including cats and dogs as they are easier to treat as family members and pamper than larger animals. Consequently, pet owners are more willing to fund their pets’ well-being, growingthe popularity of pet care products including feeders, bowls, and waterers.

Market Size for Global Pet Care Market on the Basis of Revenues in USD Bn, 2018-2023

Source: Maven Market Research

What Factors are Leading to the Growth of the Global Pet Care Market:

• Rising funding on pet products including food, healthcare, pet insurance, grooming, and several other related items are estimated to foster the consumption rate of these products, thereby driving market growth.
• The rise in disposable incomes has heightened pet owners’ willingness to fund high-quality products. Thereby, the trend of pet humanization, along with the growingrequirement for premium pet care products, is fostering the growth of the pet care market.
• The increasing pet ownership among millennials and Generation Z, combined with the rapid expansion of social media and e-commerce platforms across the globe, is rapidlyfostering the growth of the global pet care market.
• Pet owners across the globe are making different efforts to offer quality care for their pets. This trend is propelled by growing pet humanization and favorable reimbursement policies, leading to higher pet care expenditures and, thereby, expanding the market size.

Which Industry Trends have been Fueling the Growth?

High Investment in Pet Care: Growinginvestmentin pet products including food, healthcare, pet insurance, grooming, and pet ownership is projected to propel market growth by fostering the consumption rate of these products. Different factors, comprising the expansion of infrastructural facilities and growing pet ownership, are probable to drive the growth of the pet care market. Additionally, a pet is considered a considerable status symbol among high-class societies, which will enhance the demand for pet care products during the long term. Moreover, the increased fundingfor pet care incentivizes key market players to expand their product lines and introduce innovative solutions in areas including nutrition, grooming, health, and wellness. This expansion of product offerings will fascinate more customers and further drive market demand.

Global Obsession with Costly Pet Care: There is anincreasing global trend of pampering beloved pets with luxuries. The pet care market is speedily expanding, offering a broadvariety of products and services from premium food and designer clothing to deluxe grooming and spa treatments. This wonder of pet pampering is attaining momentum, with pet owners globally willing to attack their furry companions. The requirement for high-end pet care services is growing, highlighting the lengths to which pet owners will go to confirm their pets’ happiness and health.

Rising Requirement for Sustainable Products: In the pet care market, the increasingrequirement for sustainable and ethical pet care products is introducing new opportunities for innovation. Customers are considerably favoring products that are environmentally friendly and ethically originated. This trend affects not only the traditional pet food and supplies market but also spreads to pet care services, where businesses are striving to decrease their environmental impact and uphold ethical practices. By implementing this trend, key players can distinguish themselves across the market and fascinate consumers who are conscientious about the products and services they select for their pets.

What is the Current Structure for Global Pet Care Market?

By Animal Type, Dogs Segment Dominates the Market Growth

By animal type, dogs and cats were the two most prominent segments, with the dog segment leading the market. However, the cat segment is anticipated to increase the dog segment throughout the forecast period due to the growing popularity of cat adoption across the globe. This shift is accredited to different factors: cats are less expensive to maintain, demand less space, prefer to stay indoors, and are quieter than dogs. Thereby, a cat is often more convenient than owning a dog.

By Product Type, the Pet Food Segment Registers the Largest Market Growth

The largest share of the pet food segment is accredited to the high requirement for tasty and nutritious food items for pets’ daily feeding requirements among owners. According to data from the European Pet Food Industry Association (FEDIAF), sales of European pet food products during 2021 touched 10.2 million tons in volume and USD 27.7 billion in value. Additionally, the easy availability of a diversity of animal food items contributes to considerable revenue generation in this segment.

By Region, North America Dominates the Largest Market Size

The pet care market in North America is well-developed in terms of customers and accessible products. For instance, millennials now represent a third of all pet owners across the United States and are well-informed about the types of products they utilize for their pets. Premiumization plays an important role in propelling the sales of pet care products across North America. There is an increasing requirement for natural pet food among pet owners, propelled by concerns about obesity risks in pets including dogs and cats. According to the Association for Pet Obesity Prevention, 55% of dogs and cats across the United States are obese. This presents a noteworthy opportunity for producers to incorporate superior ingredients and diets, and to launch value-added products to address the growing consumer interest in luxurious products.

Competitive Analysis

Nowadays, key companies are concentrating on developing superior quality and nutritious animal food products to expand their product portfolios. In addition, new product launches are announcing innovative pet care products to the market, catering to the varied requirements and preferences of pet owners. Expanding product offerings not only fascinates new consumers but also motivates existing clients to make additional purchases, thereby expanding the overall market size. Furthermore, players are expanding their introduction bases across global markets to grow their product revenues. Some of the major players include Ancol Pet Products Limited; Blue Buffalo Co., Ltd.; Champion Petfoods LP; Hill`s Pet Nutrition, Inc.; Mars, Incorporated; Nestle Purina PetCare; Petmate Holdings Co; Saturn Petcare GmbH; Tail Blazers and The Hartz Mountain Corporation

Market Segmentation

Global Pet Care Market, By Product Type

• Pet Food Products
• Veterinary Care
• Others

Global Pet Care Market, By Animal Type

• Dog
• Cat
• Fish
• Bird
• Others

Global Pet Care Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Market Players Included

• Ancol Pet Products Limited
• Blue Buffalo Co., Ltd.
• Champion Petfoods LP
• Hill`s Pet Nutrition, Inc.
• Mars, Incorporated
• Nestle Purina PetCare
• Petmate Holdings Co
• Saturn Petcare GmbH
• Tail Blazers
• The Hartz Mountain Corporation