Our latest research report entitled Pet Care Market (by type (dog, cat, fish, bird, and other types), product (pet food, veterinary care, OTC/supplies, live animal purchase, and pet grooming/boarding)) provides complete and deep insights into the market dynamics and growth of pet care. The latest information on market risks, industry chain structure pet care cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential pet care growth factors. According to the report, the global pet care market is projected to grow at a CAGR of 5.4% over the forecast period of 2019-2025.
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The pet care market comprises of the products and services such that keep pets healthy and happy. These include food, toys, daycare, beds, cages, medical services and a lot more. These products are usually specific to the type of animal and are typically sold in pet stores and supermarkets. Apart from food and medical health, grooming, training and providing complete wellness to the pet is also a part of pet care.
The pet industry is booming and is anticipated to rise continuously. The major reason for the growth of the pet care industry is the humanization of pets. The growing trend among pet owners to treat their cats, dogs and even small mammals like members of their family and growing demand among pet owners to provide their pets with human-like products or experiences are highly contributing to the growth of the pet care industry. In addition, the growing adoption of pets in nuclear families has resulted in substantial development of the pet care industry. On an average 600,000 pets are adopted every year.
Furthermore, growing disposable income, increasing spending power, easy availability of pet care products and increased acceptance of pets among the millennials are some factors that are promoting the growth of the pet care industry. However, the high cost of pet care products and services are likely to restrain the growth of the pet care market in some low-income regions.
Besides, the growing migration of pet owners towards online channels is encouraging e-commerce giants such as Amazon, Walmart, Chewy.com, and PetCo into the pet care industry that is anticipated to facilitate the growth of the pet care market over the forecast period. Moreover, the emergence of pet care services and natural pet care products catering to the wellness and health of pets are creating fruitful opportunities for market growth.
North America Region Holds the Largest Share in the Pet Care Market
Among the regions, the North America region holds the largest share in the total addressable market. In the U.S., according to the National Pet Owners A survey conducted by the American Pet Products Association, 68% of U.S. households or about 85 million families own a pet. The increasing disposable income, the high spending capacity of the people in this region drives the growth of the North America pet care market. In 2017, $69.51 billion was spent on pets in the U.S. Additionally; the presence of several pet stores and major pet care product manufacturers in North America contributes heavily to the growth of the pet care market in this region.
Furthermore, companies such as PetSmart and PetCo stand out in terms of pet care sales in the US. The Asia Pacific is anticipated to grow at the fastest rate over the forecast period. The growing adoption of pets, the growth of the disposable income in nuclear families and growing online retail are contributing to the growth of the Asia Pacific pet care market.
The report on the global pet care market covers segments such as type, and product. On the basis of type, the sub-markets include dog, cat, fish, bird, and other types. On the basis of product, the sub-markets include pet food, veterinary care, OTC/supplies, live animal purchase, and pet grooming/boarding.
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The report provides profiles of the companies in the market such as Colgate-Palmolive Company, Nestlé, Spectrum Brands, The J.M. Smucker Company, Mars, Incorporated, Unicharm Corporation, PetSmart Inc., PetCo Animal Supplies, Ancol Pet Products Ltd, Pet Wants, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the pet care.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.