17th March 2020 – The global “Pet
Care market” presents a widespread and elementary study of Pet Care
business at the side of the analysis of subjective aspects which is able to
give key business insights to the readers. World Pet Care Market analysis
report offers the analytical read of the business by learning various factors
like Pet Care market growth, consumption volume, market trends and Pet Care
business price structures throughout the forecast amount from 2014 to 2025.
Global Pet Care Market size is expected
to reach USD 202.6 billion by 2025. The increasing demand for pet care products
including food products, accessories, and pharmaceuticals, rising adoption of
pets and grooming & boarding services are some of the major factors
estimated to drive the market growth. Technology advances in boarding, training
facilities and grooming are feasible to the pet owners. The market size
is anticipated to grow at a CAGR of 4.9% in the upcoming period.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Pet Care Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Pet Care Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
In the market, several technologies do
exist for pet health and nutrition such as pedometers, computerized feeders,
and others. Animal nutrition and health are the most important factors of key
players in the market due to an increasing use of pet care products and
services. Major products and services in pet care are medical devices,
nutritional supplements, vaccines & medicines, pet supplies, diagnostics,
veterinary, and the other services. Therefore, extensive use of these products
is expected to boost the market growth in the next couple of years.
The market size is based on type such as
cat, dog, fish and birds. The “dogs” segment held the largest market share in
2016 due to increasing adoption of dogs and health benefits associated with
them. Dogs are the most popular and preferred pet across the globe. Moreover,
they help in reducing depression, enhancing cardiovascular health & stress,
and encouraging exercise.
In the market, various pet care products
are available such as pet food, OTC medications & supplies, veterinary
care, live animal purchase, pet boarding & grooming services, and others.
The “pet food” segment held the largest market share in 2016 and is anticipated
to grow at a high CAGR in the next couple of years due to growing demand for
premium food products and organic & natural products. Rising disposable
income especially in the developing countries results in the purchase of more
pet products. The “boarding & grooming” services are expected to grow at a
significant growth rate in the years to come. Rising adoption of pet and
growing preference of pet owners regarding pet care are some factors expected
to propel the segment growth.
The factors that play an important role
in the growth of pet care market include increasing demand, growing population,
increasing urbanization & industrialization, increasing demand for pet care
products, growing demand for pet tracking & monitoring devices, rising
emphasis on pet care health & nutrition, increasing pet population, rising
trend of pet care to home, technological advancement in pet care and increasing
disposable income. Moreover, rising adoption of pets and growing demand for
premium care products are main factors driving the growth of market in the
years to come.
However, stringent regulations and
fluctuating prizes of pet care products are negatively impacting the growth of
pet care industry. The market is widely analyzed based on different regional
factors such as gross domestic product (GDP), demographics, acceptance,
inflation rate and others. The market is categorized based on type, product and
geography.
North America has been at the forefront
with regards to pet care market and will continue to rule the roost in the
years to come. The growing number of pet owners, rising adoption of pets,
increasing awareness about good veterinary health, rising governmental animal
healthcare organizations and increasing animal healthcare expenditure are the
major factors expected to boost the growth of the market in this region. On the
other hand, Asia Pacific is expected to hold the highest market share in the
forthcoming period. India is anticipated to witness lucrative growth rate over
the next years owing to increasing pet’s adoption and rising disposable income.
The key players contributing to
the robust development of the pet care market include PetSmart Inc., Nestle,
PetCo Animal Supplies Inc., Just for Pets, Aller Petfood LLC, Ancol Pet
Products Limited, Zoetis, Martin & Martin Ltd., J.M. Smucker Company,
PetLife LLC and Platinum Pets. These market players are focusing on inorganic
growth to sustain themselves amidst fierce competition. As such, mergers,
acquisitions, and joint ventures are the need of the hour.
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