Pet Carriers Market is expected to rise at a CAGR of 3.95% during the forecast period
Market Forecast
The global pet
carriers market size is projected to reach approximately USD
851.5million by 2028, at a CAGR of 3.95% from 2021 to
2028. The increasing interest in pet humanization, coupled with a growing
demand for innovative fashionable accessories for pets, is one of the factors
driving the market growth for pet carriers market. Growing consumer spending in
the household and pet products categories is expected to be the rising trend of
pet humanization. Consumers treat their pets as family members, this upsurge
pet humanization trend, which in turn influences the growth of the global pet
carriers market. Consumers are adopting small pets such as cats, dogs, and
gunnies pigs, as they are more likely to be humanized. Owing to this, consumers
are spending heavily for ensuring the best quality life for their pets. This
leads to growing adoption of pet related products such as pet carriers. Owing
to the increasing pet adoption, consumers are now spending huge amounts of
their income on pet products thereby boosting the demand for pet carriers.
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However, the global
pet carriers market has been challenged by the corona virus pandemic and the
slight effects of the pandemic may continue to be experienced over the coming
years. Owing to the COVID-19 crisis, the short-term effects of the pandemic
have affected the supply and demand of pet products, investors are skeptical
whether the upsurge in pet products spending will alter or remain the same.
Regardless of some disturbances caused by COVID-19 lockdown measures across the
globe, the long-term growth potential of the sector remains unharmed. The
current flow in pet ownership in a few countries is driven by increasing
adoption and nurturing by people restricted to their homes.
Moreover, in some
developing countries, there is a lack of awareness about pet related products
among consumers which can hamper the growth of the pet carriers market. Per
capita income of middle and lower middle-class population in developing
countries is less compared to developed countries. Owing to this, people with
lower income do not consider pet accessories as a priority that may restrict
the spending on pet related products, subsequently hindering the growth of the
pet carriers market. On the other hand, the presence of several small &
private label players in the developing and under-developed economies is
anticipated to restrict the growth of the market during the forecast period.
Market USP
Convenience and
safety.
Growth Opportunities
in the Market
Increasing
technological innovations: Pet industry is growing with an increasing number of
pet owners who are prioritizing their pets. Owing to this, there have been
recent advancements in technologies. Several innovations have stimulated the
market in the last couple of years. For instance, Jcpet Carrier concept helps
in growing of pet transportation industry. There are many unpleasant
experiences of traveling with pets, the concept of Jcpet carrier helps in providing
pet owners with new way to travel with their pets both inside and outside
environments. Pet owners want to stay connected and stay closer with their
pets, and provide them a better living condition. This creates opportunities
for manufactures in creating more caring, more functional and more intelligent
products, which will help in creating a better bonding experience between
humans and pets. As a potential solution for this, Jcpet Carrier helps in
fulfilling these expectations. Jcpet Carrier represents a new generation of pet
transport product. The carrier has smart management features which help pet
owners in managing their pets and stay connected when they are not at home.
Such innovative products create a huge growth opportunity for the manufacturers
in global pet carriers market.
Pet
humanization: The pet humanization trend is influencing the market growth, with
increasing consumer interest in treating pets as part of their family. The
popularity of pet accessories among pet owners is increasing at a great speed,
which has a positive impact on the market and is expected to contribute to
significant growth during the forecast period. Some pet owners like
representing their lifestyles by spending on comfortable and luxurious products
for their pets. This creates growth opportunities for market competitors in
global pet carriers market for launching
numerous new and customized products in the pet transport products segment.
Key Players
Manufacturers in the
pet carriers market focuses the preference and demands of consumers.
Manufacturers are focused on fulfilling demands of pet owners and launching
various innovative, different and interesting products for pets. Pet humanization
is majorly influencing the pet carriers market growth that leads to increasing
number of companies investing in R&D to create new products. The objective
of manufacturers is to focus on an acquisition strategy to strengthen their
market position globally. Some of the key players working in the global pet
carriers market are.
- K&H Manufacturing (US)
- Sherpa Pet (US)
- Quaker Pet Group (US)
- Paws& Pals (US)
- EliteField (US)
- Snoozer (US)
- Sleeko (US)
- Prefer Pets Travel Gear (US)
- Gen7Pets (US)
- Outward Hound Home (US)
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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