Growing awareness of pet care and industrialization are key factors expected to drive the global market by 2028.
PUNE, MAHARASHTRA, INDIA, November 8, 2022 /EINPresswire.com/ — Global pet care market Size to reach USD 290.37 million in 2028. A key factor expected to drive the growth of the global market between 2022 and 2028 is the focus on maintaining and improving pet food intake.
Market Size: USD 162.08 million in 2021, Market Growth: at a CAGR of 8.69%, Market Trends: Rising pet adoption amid the COVID-19 pandemic.
The global pet care market size was USD 290.37 million in 2028 and is expected to register a rapid revenue CAGR of 8.69% during the forecast period. Key factors such as the rising trend in the humanization of pets, increased spending in pet care categories, and the strong focus of pet lovers on providing the best care services for pets are expected to drive the revenue growth of the global market over the forecast period.
Pets are all animals that are kept by human beings as a source of companionship, comfort and happiness. Being around pets is said to help overcome loneliness and depression. Over the years, there has been a rapid increase in the adoption of pets such as cats, dogs, fish and birds across the world due to changing lifestyles and attitude towards pets, and the availability of better grooming, training and boarding facilities. However, just like humans, pets need care in terms of health and hygiene. With the increasing availability of veterinary services and the internet, people are becoming more aware of how to take care of pets. This has led to a growing popularity of pet care products such as pet food, medicine, hygiene products, toys and grooming accessories.
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However, the high cost of top quality pet care services, the growing neglect of pet care among many people around the world, and the availability of counterfeit and poor quality pet products at cheaper ones are expected to hamper the overall market growth over the forecast period.
Pet Grooming Segment to Record Quick Income CAGR:
The pet grooming segment is expected to register a rapid revenue CAGR during the forecast period. This can be attributed to the growing number of pets around the world, the growing awareness of pet health and hygiene, the growing number of grooming centers around the world, and the increasing availability of various types of pet grooming and hygiene products and accessories.
The dog segment accounts for the largest share of revenue:
The dog segment is expected to account for the largest share of revenue between 2022 and 2028. Factors such as the growing adoption of dogs for companionship, increased awareness of canine diseases, and the importance of grooming, medical care and pet food, and the availability of a plethora of pet care products in pet stores, grocery stores, and major e-commerce platforms are expected to drive the segment’s revenue growth during the forecast period .
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North America leads in terms of revenue share:
North America is expected to lead in terms of revenue share during the forecast period due to factors such as increasing number of pet owners, high adoption of all kinds of pets, the growing awareness of companionship and pet care, the availability of a wide range of pet and pet care. food products and the presence of strong key companies.
Recent Pet Care Market Developments:
• In January 2021, Unilever plc, a UK-based multinational consumer goods company, announced the launch of its first-ever pet care brand, Cafuné in Brazil to keep all pets healthy and happy.
• In June 2021, Mars, one of the world’s largest pet food companies, announced the expansion of Whiskas Tasty Mix Wet Cat Food into India. The new product line is available at pet stores, e-commerce platforms and grocery stores.
Pet Care Market by Company:
• JM Smucker
• Hill’s Pet Nutrition
• Blue buffalo
• Thai Union Group
• Total Alimentos
• Carozzi Companies
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The global pet care market has been segmented on the basis of type, application and region:
Pet Care Market Segment By Type:
• Animal food
• Medical care for pets
• Pet Accessories
• Pet grooming
Pet Care Market Segment By Application:
Pet Care Market Segment By Region:
• North America (United States, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Colombia, Rest of South America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria, South Africa, Rest of MEA)
Reasons to buy this report:
• Estimates of Pet Care Market dynamics, development and trends 2021-2028
• Detailed market overview including market size, share, growth opportunities and challenges in the coming years
• Analysis of market segmentation with qualitative and quantitative research integrating the impact of economic and political aspects
• Competitive landscape focusing on detailed information about each market player along with the new projects and strategies adopted by them
• Comprehensive company profile analysis covering product offerings, recent developments, SWOT analysis, licensing agreement, and other strategies adopted by leading players in the global pet care market
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Chapter 1: Pet Care Market definition, introduction, current and emerging market trends, market driver, restraints, challenges and opportunities.
Chapter 2: Basic information about the global pet care market.
Chapter 3: Impact of COVID-19 outbreak on overall market dynamics. Pre-COVID and post-COVID analysis.
Chapter 4: Details about the major manufacturers of the Global Pet Care Market including full player profile, competitive landscape, peer group analysis and BCG matrix.
Chapter 5: Pet Care Market Factor Analysis, Porter’s Five Forces Analysis, Supply/Value Chain, PESTLE Model, Market Entropy and Patent Analysis.
Chapter 6: Detailed overview of market segments, regional analysis by sales, revenue and price.
Purpose of the report:
• To analyze and forecast the global Pet Care market size by value and volume.
• Estimate market size, share, revenue CAGR.
• To analyze and study the micro markets in terms of Pet Care market contributions, their individual trends and growth prospects.
• Accurate insights into useful details about the factors driving and affecting the Pet Care Market growth.
• Comprehensive overview and profiles of key players, including business strategies such as research and development investments, collaborations, partnerships, mergers and acquisitions, product launches and joint ventures.
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