Pet Care MarketPet Care Market Unlocking Growth Opportunities: Analysis and Forecast 2024-2032
Pet Care Market by Product Type (Pet Food Products, Veterinary Care, Others), by Forecast 2024-2032
Base Year: 2023
150 Pages
Pet Care Market Unlocking Growth Opportunities: Analysis and Forecast 2024-2032
Key Insights
The Pet Care Market size was valued at USD 246.66 USD Billion in 2023 and is projected to reach USD 382.05 USD Billion by 2032, exhibiting a CAGR of 6.45 % during the forecast period. Animal care includes the oversight of animals with its major intent to maintain their well-being and health. It consists of numerous themes including nutrition, nursing, sports, medical treatment, and being emotionally supportive. Several types of pet care match up with different types of pets from pooches and kitties to birds, snakes, and other small creatures. The care of pets is such that it involves the supply of a balanced diet, regular walks, grooming, and veterinary services that basically contribute to the pets’ physical and psychological well-being. The scope of pet care areas focuses on individual pet owners to professional services like veterinary clinics, pet groomers or pet boarding facilities. Among the most significant advantages of pet care, the list includes creating loving relationships, boosting self-esteem, promoting physical wellness and delivering mental peace all to a pet owner and their pets.
Pet Care Trends
- Humanization of pets: Pet owners are increasingly treating their pets as family members, leading to a demand for premium pet food, treats, and other products.
- Rise of online pet care: E-commerce platforms are making it easier for pet owners to purchase pet supplies and book veterinary appointments online.
- Increased focus on pet health and well-being: Pet owners are becoming more aware of the importance of preventive care and wellness programs for their pets.
- Growing demand for natural and organic pet products: Consumers are increasingly seeking out natural and organic pet products that are free from harmful chemicals and additives.
Driving Forces: What's Propelling the Pet Care Market
- Rising pet ownership rates: Driven by urbanization, smaller family sizes, and disposable income, pet ownership is witnessing a global surge.
- Increased disposable income: Growing disposable income empowers pet owners to invest in premium products and services for their furry companions.
- Enhanced pet health awareness: Pet owners are recognizing the significance of preventive care and wellness programs, enhancing the overall well-being of their pets.
- Technological advancements: Innovations like pet wearables and smart feeders simplify pet care and provide greater convenience.
- Humanization trend: Pets are increasingly viewed as family members, leading to a rise in demand for pet care services that mirror human practices, such as pet spas and pet concierge services.
Challenges and Restraints in Pet Care Market
- Rising veterinary costs: Veterinary costs can be a significant financial burden for pet owners.
- Lack of access to veterinary care: In some areas, there is a lack of access to affordable and convenient veterinary care.
- Pet overpopulation: Pet overpopulation can lead to stray animals, animal welfare issues, and increased costs for animal shelters.
- Competition from online retailers: Online retailers are offering a wide range of pet care products at competitive prices, which can challenge traditional pet stores.
Emerging Trends in Pet Care
- Personalized pet care: Pet care is becoming increasingly personalized, with products and services tailored to the specific needs of each pet.
- Data-driven pet care: Data-driven pet care is using technology to collect and analyze data on pet health and behavior to improve pet care outcomes.
- Sustainable pet care: Pet owners are increasingly looking for sustainable pet care products and services that have a minimal environmental impact.
- Telemedicine for pets: Telemedicine is becoming more popular for pet care, allowing pet owners to consult with veterinarians remotely.
Growth Catalysts in Pet Care Industry
- Increasing adoption of pet insurance: Pet insurance is becoming more popular, providing financial protection for pet owners in the event of unexpected veterinary expenses.
- Government initiatives to promote pet health: Governments are implementing initiatives to promote pet health and well-being, such as mandatory microchipping and pet vaccination programs.
- Investment in pet care research and development: Pet care companies are investing in research and development to develop new and innovative pet care products and services.
- Expansion into emerging markets: Pet care companies are expanding into emerging markets, where there is a growing demand for pet care products and services.
Market Segmentation: Pet Care Analysis
Product Type:
- Pet Food Products
- Veterinary Care
- Others (pet toys, accessories, grooming products)
Leading Players in the Pet Care Market
- Mars Incorporated (U.S.)
- Nestle S.A. (Switzerland)
- Spectrum Brands Inc. (U.S.)
- Diana Group (Thailand)
- The J.M. Smucker Company (U.S.)
- Unicharm Corporation (Japan)
- Hill’s Pet Nutrition, Inc. (U.S.)
- SCHELL & KAMPETER, INC (U.S.)
- Tiernahrung Deuerer GmbH (Germany)
- Heristo AG (Germany)
Significant developments in Pet Care Sector
- November 2022: Nylabone, a prominent brand of Central Garden & Pet Company, launched its innovative range of pet toy products that would provide fun pet activities.
- November 2022: Mars Incorporated acquired Champion Pet Foods, a worldwide supplier and producer of pet foods, in 2022. The acquisition helped the company expand its product portfolio and capture a significant market share in the long run.
- August 2022: Wiggles, an Indian pet care brand, launched its new gluten and sugar-free products for dogs, ‘Every Dawg’ and expanded its product portfolio in terms of pet foods.
- December 2021: Unilever entered the industry by launching its new pet care brand, ‘Cafune’, in Brazil, which includes pet shampoos, conditioners, kitty litter, wipes, home disinfectants, and others.
- January 2021: Paws Inc., a U.S.-based cat wellness products company, acquired Ocado Group’s Fetch, a U.K.-based online pet food store, to expand its business in the European market.
Comprehensive Coverage Pet Care Market Report
Scope: This comprehensive report offers an in-depth analysis of the global pet care market, encompassing key trends, growth drivers, and challenges. Additionally, it provides granular market segmentation and detailed profiles of industry leaders.
Methodology: Our research methodology combines primary and secondary sources. Primary research involved conducting interviews with industry experts and key opinion leaders. Secondary research consisted of scrutinizing company annual reports, industry publications, and government data.
Regional Insight
The global pet care market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America dominates the market, followed by Europe. Asia-Pacific, particularly nations like China and India, exhibits the most rapid growth owing to increasing pet ownership and disposable income.
Consumer Side Analysis
Pet owners are the primary consumers of pet care products and services. Pet owners are typically affluent, educated, and have a strong emotional attachment to their pets.
DROCs
- Demographic: Rising pet ownership rates and increasing disposable income are driving the demand for pet care products and services.
- Regulatory: Government initiatives to promote pet health and welfare are also driving the growth of the pet care market.
- Operational: Technological advancements are making it easier for pet owners to care for their pets, which is also contributing to the growth of the pet care market.
- Consumer: Pet owners are increasingly demanding premium pet care products and services that are tailored to the specific needs of their pets.
- Competitive: Competition in the pet care market is intense, with a number of large, well-established players.
Acqui-Merger
- Mars Incorporated acquired Champion Pet Foods in November 2022.
- Paws Inc. acquired Ocado Group’s Fetch in January 2021.
Acqui-Merger
- Mars Incorporated acquired Champion Pet Foods in November 2022.
- Paws Inc. acquired Ocado Group’s Fetch in January 2021.
Pet Care Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.45% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. High Spending on Pet Care to Favor Market Growth
- 3.3. Market Restrains
- 3.3.1. Higher Cost of High-Quality Products to Restrain the Market Growth
- 3.4. Market Trends
- 3.4.1. Shifting Inclination Toward Dietary Food Items to Accelerate Market Expansion
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 5.1.1. Pet Food Products
- 5.1.2. Veterinary Care
- 5.1.3. Others
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1.
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 6. North America Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Product Type
- 6.1.1 Pet Food Products
- 6.1.2 Veterinary Care
- 6.1.3 and Others
- 6.2. Market Analysis, Insights and Forecast - By Country/Sub-region
- 6.2.1 United States
- 6.2.2 Canada
- 6.2.3 Mexico
- 7. South America Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Product Type
- 7.1.1 Pet Food Products
- 7.1.2 Veterinary Care
- 7.1.3 and Others
- 7.2. Market Analysis, Insights and Forecast - By Country/Sub-region
- 7.2.1 Brazil
- 7.2.2 Argentina
- 7.2.3 Rest of South America
- 8. Europe Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Product Type
- 8.1.1 Pet Food Products
- 8.1.2 Veterinary Care
- 8.1.3 and Others
- 8.2. Market Analysis, Insights and Forecast - By Country/Sub-region
- 8.2.1 Germany
- 8.2.2 France
- 8.2.3 Italy
- 8.2.4 United Kingdom
- 8.2.5 Netherlands
- 8.2.6 Rest of Europe
- 9. Asia Pacific Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Product Type
- 9.1.1 Pet Food Products
- 9.1.2 Veterinary Care
- 9.1.3 and Others
- 9.2. Market Analysis, Insights and Forecast - By Country/Sub-region
- 9.2.1 China
- 9.2.2 Japan
- 9.2.3 India
- 9.2.4 South Korea
- 9.2.5 Taiwan
- 9.2.6 Australia
- 9.2.7 Rest of Asia-Pacific
- 10. MEA Pet Care Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Product Type
- 10.1.1 Pet Food Products
- 10.1.2 Veterinary Care
- 10.1.3 and Others
- 10.2. Market Analysis, Insights and Forecast - By Country/Sub-region
- 10.2.1 Middle East
- 10.2.2 Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2023
- 11.2. Company Profiles
- 11.2.1 Mars Incorporated (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Nestle S.A. (Switzerland)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Spectrum Brands Inc. (U.S.)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Diana Group (Thailand)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 The J.M. Smucker Company (U.S.)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Unicharm Corporation (Japan)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Hill’s Pet Nutrition Inc. (U.S.)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 SCHELL & KAMPETER INC (U.S.)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Tiernahrung Deuerer GmbH (Germany)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Heristo AG (Germany)
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Mars Incorporated (U.S.)
List of Figures
- Figure 1: Global Pet Care Market Revenue Breakdown (USD Billion, %) by Region 2023 & 2031
- Figure 2: Global Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 3: Global Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 4: Global Pet Care Market Forecast (USD Billion), by Pet Food Products 2020 & 2031
- Figure 5: Global Pet Care Market Forecast (USD Billion), by Veterinary Care 2020 & 2031
- Figure 6: Global Pet Care Market Forecast (USD Billion), by Others 2020 & 2031
- Figure 7: Global Pet Care Market Revenue (USD Billion), by Region 2023 & 2031
- Figure 8: Global Pet Care Market Revenue Share (%), by Region 2023 & 2031
- Figure 9: North America Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 10: North America Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 11: North America Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 12: North America Pet Care Market Revenue Share (%), by Country 2023 & 2031
- Figure 13: South America Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 14: South America Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 15: South America Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 16: South America Pet Care Market Revenue Share (%), by Country 2023 & 2031
- Figure 17: Europe Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 18: Europe Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 19: Europe Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 20: Europe Pet Care Market Revenue Share (%), by Country 2023 & 2031
- Figure 21: Asia Pacific Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 22: Asia Pacific Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 23: Asia Pacific Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 24: Asia Pacific Pet Care Market Revenue Share (%), by Country 2023 & 2031
- Figure 25: MEA Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 26: MEA Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 27: MEA Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 28: MEA Pet Care Market Revenue Share (%), by Country 2023 & 2031
- Figure 29: Pet Care Market Revenue (USD Billion), by Product Type 2023 & 2031
- Figure 30: Pet Care Market Revenue Share (%), by Product Type 2023 & 2031
- Figure 31: Pet Care Market Revenue (USD Billion), by Country 2023 & 2031
- Figure 32: Pet Care Market Revenue Share (%), by Country 2023 & 2031
List of Tables
- Table 1: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 2: Global Pet Care Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 3: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 4: Global Pet Care Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 5: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 6: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 7: United States Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 8: Canada Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 9: Mexico Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 10: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 11: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 12: Brazil Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 13: Argentina Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 14: Rest of South America Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 15: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 16: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 17: Germany Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 18: France Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 19: Italy Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 20: United Kingdom Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 21: Netherlands Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 22: Rest of Europe Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 23: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 24: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 25: China Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 26: Japan Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 27: India Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 28: South Korea Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 29: Taiwan Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 30: Australia Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 31: Rest of Asia-Pacific Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 32: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 33: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 34: Middle East Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 35: Africa Pet Care Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 36: Global Pet Care Market Revenue USD Billion Forecast, by Product Type 2018 & 2031
- Table 37: Global Pet Care Market Revenue USD Billion Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.45% from 2018-2032 |
| Segmentation |
|
STEP 1 - Identification of Relevant Samples Size from Population Database
STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
STEP 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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