Global Pet Care Market Is Expected to Grow at A CAGR of 7.4% In The Forecast Year of 2021-2026

Global Pet Care Market Is Expected to Grow at A CAGR of 7.4% In The Forecast Year of 2021-2026

Auguest 10, 2021, New York, USA – The Global Pet Care Market comprises a detailed analysis of the different pet products which are required for the grooming of the pets. It includes the product which is used in nourishment, food, exercise, and the medical attention which is required. It also includes vaccination, pet grooming, training of the pet, and others types of pet grooming industry products.

The previous year was surprisingly a conducive one for the pet grooming industry, things are somewhat looking up for this industry in the year 2021. This is because of the lockdowns and most of the people staying at home for almost all the time, they took good care of their pets and which in turn stimulated the demand for pets and at the same time gave a big boost to the pet care market globally.

The Global Pet Care market is divided by the cat, dog, fish, and other pet animals, by the product type, by the grooming type, different distribution channels, and geography wise.

The Global Pet Care Market Forecast-

The Global Pet Care Market is expected to grow at a CAGR of 7.4% in the forecast year of 2021-2026. It is expected to reach a market valuation of $US94.2 billion in the year 2021-2027 with a focus on higher demand for protein-rich diets for pets.

North America holds a prominent share in the Global Pet Care Market and will see the highest growth in the forecasted period. Europe, Asia-Pacific, South America, Middle East, and Africa are the other prominent and emerging markets.

In North America, there is particularly a growing demand for pets such as dogs and cats owing to the prevalence of the natural pet food available in the market.

The largest share of pet products goes to pet dogs and they hold the highest revenues for pet care products. The US has the highest number of pet dogs and this is also helpful to prevent the robberies and petty thefts which can take place if there is a well-trained canine in the house. Further, it is likely to catapult the immunization growth which can be divided into various segments.

The cat segment is expected to increase at a considerable rate and this can be attributed to the online sales of the various cat products from popular e-commerce store websites such as Walmart, Amazon, and the rest of the others. According to research, the demand for cat care products reached more than 40% as compared to the earliest of 27% in the previous years. Along with that the popularity and the demand for cat litter products are likely to fuel the segmental growth.

The fish market is another popular product that is driving the growth of the Global Pet Care Market.

If online sales are picking up the offline market is also fast catching up. The offline market is expected to exhibit the largest share of animal care products among the global population and also the growing awareness of the rising pet care products regarding their availability.

Which are the key market trends in the Global Pet Care Market?

Pet Humanization is on the rise-

Increasing demand for pets and their vaccination is one of the rising trends and the rising consumer interest in treating pets as their family members. Here also there has been the preference for small pets as their grooming and maintenance is easier as compared to large animals and the popularity of pet fashion is having a highly positive impact on the Global Pet Care Market.

This is also encouraging various competitors to launch new and innovative products in the market and along with that various luxurious products for pets.

Social Isolation-

Isolation and lockdowns have been triggering factors for the growth of pets. This is because many citizens who lived alone have been increasingly buying pets and consequently the demand for pet products has been on the rise.

Some of the top companies in the market include-

The market for Global Pet Care Market is a highly segmented market with top players using key market strategies for consolidating their market share and providing different solutions for strengthening their market shares.

  • Mars Incorporated
  • Colgate-Palmolive
  • General Mills INC
  • Nestle Purina
  • JM Smucker Company

Some of the recent innovations include-

  • In the year 2020, Pedigree an off-shoot of Mars Inc launched a new range of dental care products for dogs along with chicken and beef flavors which with minimum to maximum options for dogs.
  • During the same period, another subsidiary of Mars Inc launched another product that will be useful to the Yorkshire Terrier Adult Dogs 8+ dogs.

The Restraining factors

There are some factors which in the market which can

Pets and their grooming products are exceptionally costly. It requires a sufficient amount of money along with the vaccination for taking care of pets as they should care like any other family member. So this puts a somewhat restraint on the income bracket of some of the people. People with higher-income families are likely to buy pets as opposed to lower-income and middle-income families.

Likewise, there are some highly uncertain regulations which still rule the market such as the labeling of the pet care products is not done professionally at times and can hamper the overall growth of the market; Secondly not much done for the marketing efforts of the products which can also be a big restraining factor.

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