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.
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.
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.
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)