Dublin, March 29, 2024 (GLOBE NEWSWIRE) -- The "Global Pet Care Market - Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The latest market analysis report on the global pet care industry offers comprehensive insights into the current trends, growth drivers, and market segmentation, highlighting the surge in technological innovations, pet humanization, and demand for chemical-free products shaping the sector's future.
The global pet care market is poised to witness substantial growth, with a projected compound annual growth rate (CAGR) of 5.22% from 2023 to 2028. This growth is attributed to several key trends and drivers that are reshaping the industry landscape, catering to the evolving needs and preferences of pet owners worldwide.
Key Industry Insights and Forecast
- Increasing integration of technology in pet care solutions, such as mobile apps for health monitoring and grooming appointments, is enhancing owner-pet interaction.
- The trend of pet humanization is driving demand for high-quality, humanized pet food and services, reflecting pets' elevated status to family members.
- There is a growing inclination towards chemical-free and natural pet grooming products, influenced by pet owners’ concern for health, hygiene, and environmental sustainability.
Furthermore, the end-user analysis underscores dogs' predominant position as the most domesticated pets, with significant contributions from other segments such as cats and birds. The report comprehensively evaluates the distribution channels, with offline channels maintaining a leading position although online channels continue to emerge strongly.
Geographical Analysis and Competitive Landscape
From a geographical perspective, North America remains the largest market for pet care, particularly due to strong demand and a robust network of specialty stores and retailers in the U.S.
The competitive landscape of the global pet care market is highly fragmented with key players such as Mars Inc., Nestlé Purina, and J.M. Smucker Company leading the way. A thorough analysis suggests an intense competition among brands, pushing innovation and product diversification, especially with increasing consumer preferences for nutritious, minimal-chemical pet care products.
This research dissects the sprawling growth potential of the industry, providing stakeholders with strategic insights to navigate the market's dynamic trajectory. It poses and answers vital questions concerning market size, growth trends, leading regions, and key industry players that can influence decision-making in the global pet care sphere.
SEGMENTATION INSIGHTS
- The dry pet food segment dominated the global pet care market, accounting for a share of over 42% in 2022. By serving dry pet food, pets do not create a mess; hence, pet owners prefer it.
- The veterinary care segment dominated the global pet care market. Veterinary care enjoys a major industry share as pet owners must take them for vaccinations, treatment, and follow-ups.
- The global pet care market by beauty & cosmetics is segmented into hair & skin, dental care, and others. The hair & skin segment held the largest segmental market share in 2022.
- The global pet care market by pet services is segmented into grooming and training services. The grooming services hold the most prominent segmental share and are projected to witness the highest compound annual growth in the pet services segment.
- The global end-user pet care market is segmented into dogs, cats, and birds. Dogs are the most domesticated pets across the globe. Dogs are known to be friendly and protective.
- The offline distribution channel had the highest pet care market share in 2022; factors such as the broader reach in areas that lack better connectivity and high consumer trust associated with touching and experiencing the quality of products are driving the growth of this segment.
KEY QUESTIONS ANSWERED:
- How big is the pet care market?
- What is the growth rate of the global pet care market?
- Which region dominates the global pet care market share?
- What are the significant trends in the pet care industry?
- Who are the key players in the global pet care market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 298 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $295 Billion |
| Forecasted Market Value (USD) by 2028 | $400.4 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Market Overview
- Pet Humanization
- Impact of Pet Humanization on Pet Care Market
- Pet Microchips
- Contribution of Pet Insurance to Pet Care Market
- Ground Breaking Technological Innovation Shaping the Pet Care Market
Market Opportunities & Trends
- Increasing Technological Integration
- Growing Demand for Chemical-Free and Eco-Friendly Products
- Increasing Mobile Pet Grooming Services & Enrolment for Grooming and Expos
- Growth in Pet Adoption
Growth Enablers
- Rise in Pet Humanization
- Increasing Business Opportunity
- Availability of Customized and Superfood Online
Market Restraints
- Product Recalls due to Possible Contamination
- Toxic and Harmful Chemical in Pet Products
Key Company Profiles
- Nestle Purina
- Mars Inc
- J.M Smucker Company
Other Prominent Vendors
- Colgate-Palmolive
- General Mills Inc.
- Diamond Pet Foods
- Simmons Pet Food
- Ainsworth Pet Nutrition
- American Nutrition
- Elmira Pet Products
- Fromm Family Foods, LLC.
- Halo Purely for Pets
- Kriser's
- Camp Bow Wow
- Pet Palace
- Preppie Pooch
- Canine Studio
- Chama's
- Oscar's Pet Resort
- Canine House of Style
- The Zuri Pet Spa & Resort
- Fur Frenzy Pet Spa
- Rush Direct Inc.
- Red Rover
Premium Insights
Key Trends
- Increasing Technological Integration
- Rising Pet Humanization
- Growing Demand for Chemical-Free Products
Product Type
Food Type
- Veterinary & Medication
- Beauty and Cosmetics
- Pet Grooming Services
End-users
- Distribution Channel
- Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/xxh0gm
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