Pet Care Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Pet Care Market
The pet care market size was valued at USD 246.66 billion in 2023, and the market is now projected to grow from USD 259.37 billion in 2024 to USD 427.75 billion by 2032, exhibiting a CAGR of 6.45% during the forecast period of 2024-2032.
The pet care market is experiencing a boost with the pandemic, witnessing a rise in pet adoption as households look for partners in lockdown periods. A higher number of pets have been bought; hence, a shift has occurred in pet care industry to area such as foods, toys, grooming and veterinary care. In the meantime, pet owners have turned to the latter, of course, and their concern for their animal's health and spiritual welfare is increasing in general. As a result, the demand for high-end and special pet goods is rapidly growing.
The pet care industry, entirely propelled by this growth, is currently experiencing an all-time high, which is aided by the increase in pet ownership that happened during the pandemic. Humans were with their pets most of the time, due to the home quarantine intent, which in turn pushed fandom of pet adoption. The trend has further sparked the demand for a whole array of pet care products including dog food, toys, and health-related stuff. All of these factors are driving the pet care market growth.
Moreover, technology adoption and the health and wellbeing consciousness of pets has triggered the growth of the market. Pet owners are getting more interested in elite and organically produced pet food and services such as online tele-medical consultations and mobile vet clinics that only add on to market growth pace on the other hand.
Comprehensive Analysis of Pet Care Market
Segmentation is the engine of the pet care niche that enable manufacturers to manufacture appropriate products for different group of pet owners. The pandemic certainly altered pet care market dynamics as well as people’s mindset toward pets. Therefore, they are becoming important in people’s everyday life and an integral part of pet-related industry. The segmentation is rolled out to the products type such as pet food products, veterinarian care and others. Besides the consideration of pet type including dogs, cats, and others, allow the market to orchestrate everything knowing that they have specific needs and tastes. Lastly, segmentation by distribution channel, whether online or offline, enables companies to reach customers through their preferred shopping channels, enhancing accessibility and convenience for pet owners.
North America is the major region in the pet care market share, occupied first of all by intensive level of pet ownership and consequently very big expenses on pet products and services in the U.S. and Canada. Furthermore, the area's market strength extends due to the significant presence of major pet care companies and wide acceptance of luxury pet care attitude. Pet well-being innovation potential and improved veterinary services create a new market segment which is a considerable factor in the industry development. Moreover, the cultural values of pet parenting and of humanized pets have taken over the pet market and predict a big growth in that market as well.
The top players in the market play a crucial role in shaping the industry's growth trajectory and setting market standards. These players include: Mars Incorporated (U.S.), Nestle S.A. (Switzerland), Spectrum Brands Inc. (U.S.), Diana Group (Thailand), The J.M. Smucker Company (U.S.), Unicharm Corporation (Japan), Hill’s Pet Nutrition, Inc. (U.S.), SCHELL & KAMPETER, INC (U.S.), Tiernahrung Deuerer GmbH (Germany), Heristo AG (Germany)
In November 2022, Nylabone, which operates under the umbrella of Central Garden & Pet Company, inaugurated its new line of entertaining pet toy products. This line is meant to be an avenue for pets to derive joy in their daily lives. At the same time, Mars Inc conducts the acquisition of Champion Pet Foods, one of the globally known suppliers and manufacturers which will increase the company’s spectrum of the products and provides stability and security of a big market share in the foreseeable future. This will create a stable source of revenue for Mars Incorporated.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.45% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Product Type
Pet Food Products
Veterinary Care
Others
By Pet Type
Dog
Cat
Others
By Distribution Channel
Online
Offline
North America (By Product Type, Pet Type, Distribution Channel, and By Country)
U.S. (By Product Type)
Canada (By Product Type)
Mexico (By Product Type)
Europe (By Product Type, Pet Type, Distribution Channel, and By Country)
Germany (By Product Type)
France (By Product Type)
Italy (By Product Type)
Spain (By Product Type)
The U.K. (By Product Type)
Rest of Europe (By Product Type)
Asia Pacific (By Product Type, Pet Type, Distribution Channel, and By Country)
China (By Product Type)
India (By Product Type)
Japan (By Product Type)
Australia (By Product Type)
Rest of Asia Pacific (By Product Type)
South America (By Product Type, Pet Type, Distribution Channel, and By Country)
Brazil (By Product Type)
Argentina (By Product Type)
Rest of South America (By Product Type)
The Middle East and Africa (By Product Type, Pet Type, Distribution Channel, and By Country)
South Africa (By Product Type)
UAE (By Product Type)
Rest of the Middle East and Africa (By Product Type)
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