Global Pet Furniture Market - 2022-2029

Global Pet Furniture Market - 2022-2029

Market Overview

The global pet furniture market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Pet furniture is the furniture that manufacturers develop according to the requirements of different types of pets like dogs, cats and others. The industry is likely to benefit from the increased availability of a wide range of multipurpose and fashionable pet furniture on a global scale. Pet furniture offers comfort to the pets and gives them a cozy feeling when they sit or sleep, and it is a specialty product designed according to the suitable needs for pet animals like dogs, cats, rabbits and others. Furthermore, increased pet-care spending is an important market trend in developed nations such as Germany, the United Kingdom, and France.

Market Dynamics:

Customized pet furniture is becoming increasingly popular in the marketplace.

The practice of keeping pets and treating them as family members is becoming increasingly popular worldwide. Customers prefer customization because it provides a personal touch to pet furniture, and this element will play a significant part in the growth of the pet furniture market. Pet furniture is made from organic or natural materials by manufacturers. Customers can create sections of pet furniture and choose the material and color of the finished product, resulting in product innovation through personalization. Customized pet furniture also includes amenities such as bedding, built-in storage, and seating combinations, which is expected to boost the global pet furniture market's growth over the next five years.

Additionally, domestic animal spending has been steadily increasing over the world. Toys, apparel, beds, travel equipment, collars, leashes, bowls, medicine, presents, grooming services, and veterinary services are among the most expensive items purchased by pet owners. The millennial population is increasing its spending relatively higher than other age groups. As of 2018, around 35.0% of owners belonged to the millennials age group globally. The rise in spending and the overwhelming passion of the millennial age group is fueling industry growth across the globe. Generally, domestic animals are treated like family members, encouraging the owners to spend more time on them. Introducing and keeping dogs in offices has been growing in recent years. Shortly, these pet-friendly offices are projected to increase demand for the product.

Another key trend that has motivated manufacturers to invest in multi-functional beds is the growing demand. These multi-functional beds are designed to keep track of the animal's weight while also controlling the climate to ensure the pet's comfort. Furthermore, some products might benefit both the pet and the owner. This furniture combines a pet bed and owner's furniture in one unit, including a coffee table, bedside table, and chair. Consumers with limited space are driving up demand for this type of furniture.

Market Segmentation:

Beds and Sofas is the dominating segment in global pet furniture market

Beds and sofas accounted for more than a percent of the market. In the industry, there are a variety of mattresses and sofas that are made to fit the user's weight, size, and shape. Temperature control and orthopedic beds have seen a significant increase in demand in recent years due to their health benefits. Orthopedic beds provide the backbone, muscle, and joint support while preventing joint disorders. On the other hand, Electrical heating beds come in both thick and thin cushioning options. Gel packs are also offered to keep the bed cool in the summer. Over the years, donut beds, bolster beds, pillow or cushion beds, and outside cots have all gained popularity. Beads consisting of polypropylene, silica, and glycerin are also used for ornamentation.

Based on the application, dogs held the highest market revenue share of XX% in 2020. Dogs are human friendly, and they often love being playful with human beings around, and the trends of keeping them and treating them much like family are rising globally. The United States, China, Russia, Japan, the Philippines, India, Argentina, and the United Kingdom have the world's largest dog populations. In 2018, more than 60 million households in the United States possessed over 89 million dogs. Manufacturers have introduced various customizable and comfortable features in the furniture, including kennel beds, donut beds, and standard dog beds that suit their requirements. Pugs, bulldogs, and French bulldogs are popular dog breeds in the United States and the United Kingdom. In 2018, cat furniture accounted for a large portion of the market. The United States, China, Russia, Brazil, France, Germany, the United Kingdom, and Italy have the most cats. Cat ownership is estimated to be over XX percent in the United States, with spending on these animals increasing over time.

Geographical Penetration:

North-America is the dominating segment during the forecast period

In the United States, pet parents are spending more on their pets' health and safety. According to the American Pet Productions Association , pet care spending reached USD 90.5 billion in 2018, up 20% from the previous year. The United States and Europe have traditionally dominated the global pet market. Another significant force in the pet industry is the Asia Pacific, which has seen rapid expansion in the pet industry. Increasing disposable income, which has led to increased spending on pets, rising concerns towards the health and fitness of pets, and increasing demand in developing nations across the globe, are some of the key elements expected to prompt the demand for pet furniture over the forecast period.

Asia Pacific is the fastest-growing market, with a CAGR of XX percent. India boasts the world's fastest-growing dog population. In India, rising per capita income has allowed people to spend more on luxury items like pet furniture. Another emerging market for the product in China. The most important marketplaces in this economy are Beijing, and Shanghai.92 percent of cats and 76 percent of dogs in Australia are kept indoors, implying a substantial need for pet furniture in this country

Competitive Landscape:

The global pet furniture market is fragmented. The global pet furniture market is a competitive market and comprises numerous regional and international competitors. Players are also extensively focusing on providing consumers with innovative offerings while including functional benefits in each of their products. Furthermore, while engaging the consumers with innovation and expansion strategies, key players are capitalizing on the market revenue. North American Pet Products, Go Pet Club, MidWest Homes For Pets, PetPals Group, Inc., Ware Pet Products, Ultra Modern Pet, Inkgrid, and Inter IKEA Systems B.V. are some of the leading companies in this market. The product's internet sales have expanded dramatically during the last several years around the world. As a result, e-commerce distribution channels are being prioritized by manufacturers in this business. In recent years, online sales in China and the United States have grown. Players have also boosted their spending on products created with natural and environmentally friendly raw materials in recent years. Inter IKEA Systems B.V., for example, offered a large assortment of eco-friendly furniture and toys made of sisal, paper rope, and water hyacinth in May 2018. Particleboard has been used as a significant raw material for cat furniture with a weight capacity of more than 40 lbs.

COVID-19 Impact:

Positive impact on the global pet furniture market

Despite the global pandemic of Covid-19, pet furniture sales have increased as pet adoptions have surged during the era, and new pet owners want their pets to feel at peace in their new homes. In the United States, sales of pet beds and furnishings have increased by roughly 20%. Internet sales of pet furniture soared during Covid-19, as consumers were compelled to cut back on their shopping trips due to the lockdown limitations. Despite initial logistical and demand uncertainties, the pet furniture sector saw considerable growth during the pandemic. Pet furniture is a specialty item made to meet the needs of various types of pets, including dogs, cats, and other animals. Pet furniture is sold at pet specialist businesses and retail outlets worldwide, including supermarkets, hypermarkets, and online. Pet furniture is primarily popular in developed countries of the Americas and Europe, where producers are developing new products to assist pet owners in adapting to a more convenient lifestyle. The category of dogs and cats is critical to the market's success. The introduction of innovative, cost-effective, and customized furniture, as well as increased worries about pet care and a rise in animal healthcare spending, have all contributed to an increase in demand for pet furniture around the world. The impact of the COVID-19 crisis on consumer behavior and manufacturing trends has increased the importance of digitalization and automation for the furniture industry. Online customers looking for personalized shopping experiences and competitive prices are pushing pet furniture manufacturers to innovate on their existing products and workflow. Advances in digital technology and communication tools empower pet furniture manufacturers to respond faster to the changes in consumer demand, gain cost-saving benefits and boost their operational efficiency.Leading countries in the pet furniture business, such as India and China, are projected to see a rapid resurgence in demand.Almost every country's government is concentrating on restoring normalcy to its industry.Hence, the several underway efforts may provide support to the industry in 2021.

Why Purchase the Report?

Understand the current market scenario and viability of global pet furniture over the forecast period

Visualize the composition of the global pet furniture market in terms of type, pet type and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the Global Pet Furniture Market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The Global Pet Furniture Market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages

Target Audience:

Pet Care Companies

Pet Welfare Association

Veterinary Clinics

Industry Investors

Education & Research Institutes

Research Professionals