Petcare products include pet accessories, pet dietary supplements, pet foods, pet medical care products, cleaning products, and pet toys. A new report on the global pet care products market, published by Market Research Future (MRFR), estimates this market to feel expansion at 5.8% CAGR between 2020 and 2030. In terms of money value, the market can be worth USD 325.79 Bn by the end of the forecast period.
The most prominent market driving factor for the global pet care products market growth is the increasing awareness of pet health among the pet owners. Increasing nuclear families in the developing nations of the Asia Pacific region has resulted in the growing adoption of pets. Hence, the market for pet care products is expected to accelerate during the pet Care Products Market forecast period. Other factors contributing to the global pet care products market growth include increasing popularity of grain-free pet food products and increasing demand for organic pet food in the developed countries for North America and Europe.
Market Segmentation
The global pet care products market segmentation encompasses distribution channel, pet type, and product type. MRFR’s take on the market surveys various facets of the market in-depth.
Regarding the distribution channel, this market has been segmented into store-based distribution channel and non-store-based distribution channel. The store-based distribution channel segment can be sub-segmented into convenience stores, specialty stores, and supermarkets hypermarkets. Non-store-based distribution channels include e-commerce portals and online retailers. By pet type, the market has been segmented into cats, dogs, and others. In the context of product type, the market has been segmented into pet food, pet grooming products, and others.
Regional Segmentation
A geographical outlining of the global pet care products market covers North America, Asia Pacific, Europe, and rest of the world (RoW).
North America is the largest regional market due to increasing expenditure on pet’s food as well as healthcare by their owners, increasing demand for organic pet food, and the rising trend of pet humanization. Many important market players are also based in North America. In North America, maximum revenue comes from USA, Canada, and Mexico.
Europe is another important regional market due to the high density of population, increasing demand for organic pet food, high disposable income, and quality standards for pet food set by the government. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK. An inspection of the remaining countries in Europe featured in this report speculate the huge contribution to market revenue from many other countries in this region.
Due to the increasing disposable income, the Asia Pacific region is the fastest-growing regional market and India holds the largest market share in this region. Other important country-specific markets in this region are China and Japan. In this report, Australia and New Zealand have been clubbed into one segment. An evaluation of the remaining countries in the Asia Pacific region featured in this report calculates the huge market revenue supply from some other countries.
The RoW segment covers South America, Africa, and the Middle East. Compared to Africa and the Middle East, South America is a bigger market due to economic stability. In the Middle East, the market is decent as rich people do spend more on pet care. However, there can be certain pet care products whose sale might not be allowed due to strict religious laws. In Africa, the market is small due to lack of awareness and low disposable income.
Key Players
Big players in the global pet care products market include Blue Pet Products Inc. (USA), Colgate-Palmolive Company (USA), Champion Petfoods LP (USA), General Mills Inc. (USA), Kong Company (USA), Mars Incorporated (USA), Nestle S.A.(Switzerland), Petco Animal Supplies Inc. (USA), Petmate Holdings Co. (USA), PetSmart Inc. (USA), and Unicharm Corporation (Japan).
Latest Industry News
- Cardinal Pet Care has launched a new line of cannabidiol (CBD) products for dogs. The CBD products are going to be sold under its Remedy+Recovery brand. The line includes calming spray, ear cleaner, hemp oil, hot spot spray, liquid bandage, oral care spray, shampoo, and wound infection lotion. 4 SEP 2019
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