Global Pet Care Products Market to Demonstrate a Strong Growth Over 2027 – MRFR
Market Highlights
Considering the global
trend, pet care industry is one of the emerging markets as majority of pet
owners are often willing to spend extra money on their pet’s healthcare and
other requirements.
In the recent years, a
tremendous technological advancements has been observed in pet care. By taking
pet’s healthcare and their requirements in mind, few technologies have been
introduced, such as, computerized feeders, pedometers, etc. A number of factors
such as, increasing power of e-commerce, rising trend of bringing pets,
increase in pet population, and increasing disposable incomes in middle income
groups are propelling the growth of pet care market size. Furthermore, choosing
prime healthcare and food products for pets by their owners is another key
factor driving the pet care market size to a great extent.
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Despite the growth of
global pet care market size, a number of factors like increasing prices of pet
care products, strict regulations imposed by government, and chances of allergy
from animal-associated allergens may hamper the growth of the market over the
assessment period.
Segmentation
The pet care market
size is classified on the basis of type, and product & services
On the basis of type,
the market is segmented into dog, cat, and others.
On the basis of
product & services, the market is segmented into pet food, pet healthcare
products, and others. Pet healthcare products is further segmented into
medicines, vaccines, and others.
Regional analysis
Geographically, the
global pet care market size is classified into
the Americas, Europe, Asia Pacific, and the Middle East & Africa. The
Americas accounts for the largest share of pet care market size due to rising
trend of pet humanization and increasing expenditure on pet’s food and
healthcare by their owners. According to the American Pet Products Association
(APPA), the actual U.S. Pet Industry Expenditures for the year 2016 is $66.75
billion and the number has increased by 4.2% from the previous year.
Owing to the
increasing disposable income, Asia Pacific is the fastest growing market and
among Asia Pacific region, India commands the highest market share in the
market.
Increasing awareness
about healthy pet foods and altering socioeconomic status may intensify the
growth of the pet care market size in the Middle East also.
Key Players
Some of the key player
in the market are Aller Petfood Llc, Ancol Pet Products Limited, Beaphar, BHJ,
Martin & Martin (Pty) Ltd., earthbath, J.M. Smucker Company, Nestlé,
PetLife LLC and
PLATINUM PETS.
In the last few years,
pet care market size has been experiencing a significant growth in terms of
technological advancements and innovation, for instance, PetLife LLC introduced
a high-tech pet motion, activity and consumption tracker. This high-tech
product is operated via Bluetooth and Wi-Fi.
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