Pet Care Market Size to Grow by USD 48.94 Billion | Market Research Insights Highlight Shifting Preference Toward Natural and Organic Pet Care Products as Key Driver | Technavio

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NEW YORK, Jan. 18, 2022 /PRNewswire/ -- According to the research report "Pet Care Market by Application, Product, and Geography - Forecast and Analysis 2021-2025", the market will witness a YOY growth of 4.09% in 2021 at a CAGR of 5.18% during the forecast period. The report is segmented by application (dogs, cats, and others), product (food, accessories, and grooming), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

Attractive Opportunities in Pet Care Market by Application, Product, and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Pet Care Market by Application, Product, and Geography - Forecast and Analysis 2021-2025

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Vendor Insights

The pet care market is fragmented, and the vendors are deploying growth strategies such as expanding their presence worldwide to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Beaphar Beheer BV

  • Colgate-Palmolive Co.

  • heristo AG

  • Inter IKEA Holding BV

  • Laroy Group

  • Mars Inc.

  • Nestle SA

  • Spectrum Brands Holdings Inc.

  • The J.M. Smucker Co.

  • Unicharm Corp.

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Geographical Market Analysis

The pet care market will be dominated by North America. According to Technavio, the region will account for 36% of the market's growth during the forecast period. The US is a key country for the pet care market in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions. The high demand for natural and premium products will drive the pet care market growth in North America during the forecast period.

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Key Segment Analysis

The dogs segment will have significant market share growth of the pet care market during the forecast period. Dogs are the most popular pets, followed by cats. They are known to reduce anxiety, stress, and depression; ease loneliness; improve cardiovascular health, and encourage exercise. People who live in flats and apartments and do not have a garden or porch where their pets can live prefer pet furniture. These factors are expected to drive the global pet care market through this segment.

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Key Market Drivers & Challenges:

The shifting preference toward natural and organic pet care products is one of the key factors that are driving the growth of the pet care market. Due to pet humanization, pet owners have become increasingly conscious of their pets' health. This has led to an increase in the demand for natural and organic pet care products, which are perceived to be of high quality, safety, and nutrition. Such factors are considered by market competitors while manufacturing pet care products in order to differentiate themselves from their competitors and cater to customers' requirements. Pet food is one of the major segments of the global pet care market. This segment has witnessed an increase in the number of natural and organic offerings from market competitors.

The growing awareness of pet allergies among people is expected to be a major challenge for the pet care market. Animals can be carriers of harmful bacteria, such as Campylobacter jejuni and cryptosporidiosis, due to their exposure to polluted wind and water. These diseases can be transmitted to humans, especially children. Many animals with fur and feather, namely cats, rodents, and birds, cause allergies such as pet dander in humans. Such allergies affect people who have a weak immune system. Hence, some people do not prefer to adopt pets. All these factors can potentially have an adverse effect on the pet care industry. This, in turn, can affect the sales of pet care products during the forecast period.

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Related Reports:

Pet Insurance Market by Pet Type and Geography - Forecast and Analysis 2022-2026

Pet Accessories Market by Distribution Channel, Product, End-user, and Geography - Forecast and Analysis 2021-2025

Pet Care Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.18%

Market growth 2021-2025

USD 48.94 billion

Market structure

Fragmented

YoY growth (%)

4.09

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 36%

Key consumer countries

US, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Aller Petfood LLC, Ancol Pet Products Ltd., Beaphar Beheer BV, BOSHEL Store, Champion Petfoods, Colgate-Palmolive Co., General Mills Inc., heristo AG, Inter IKEA Holding BV, Laroy Group, Mars Inc., Nestle SA, Nicoluzzi Industria de Racoes Ltda, Schell and Kampeter Inc., Spectrum Brands Holdings Inc., The J.M. Smucker Co., Unicharm Corp., WellPet LLC, Woofies Pet Sitters, Dog Walkers Mobile Pet Spa

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio