|Study Period:||2016 - 2026|
|Fastest Growing Market:||Latin America|
|Largest Market:||North America|
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The pet care market is expected to register a CAGR of 7.4% during the forecast period, 2021-2026.
Although the year 2020 was not found to be very promising for all the industries, in the case of the pet care market, it was a boon, as due to repeated lockdowns, people stayed mostly at home and took good care of their pets. This stimulated the demand for pet services and products and encouraged significant growth in the pet care market.
The growing interest in pet humanization, coupled with a rise in demand for premiumization in pet care products, is one of the factors driving the market growth for pet care products. North America holds a prominent share in the pet care market. There are significant opportunities in the market despite the increasing maturity and greater competition prevailing in the region. Colgate-Palmolive, Nestle SA (Purina), and General Mills Inc. (Blue Buffalo) are some of the pet care manufacturers with a significant share in the market.
Scope of the Report
The pet care market depicts the detailed analysis of products used in food and safety, nourishment, exercise, and medical attention. It includes services, vaccination, pet sitting, pet grooming, pet feeding, pet training, and others.
The pet care market is segmented by pet type (dog, cat, fish, and other pet types), product type (pet food, pet care, and grooming products), distribution channel (offline retail stores and online stores), and geography (North America, Europe, Asia-Pacific, South America, Middle-East and Africa). The report offers the market size and forecasts in value (USD) for all the above segments.
|Other Pet Types|
|Offline Retail Stores|
|Online Retail Sores|
Key Market Trends
The Pet Humanization Trend is Driving the Market
The pet humanization trend has a positive influence on the market growth, with rising consumer interest in treating pets as part of their family. Urbanization is forcing people into smaller spaces where larger pets are not economical as their maintenance costs are high compared to smaller pets. Small pets are much more likely to be indulged and humanized than larger pets. The popularity of pet fashion among pet owners has a positive impact on the market and is expected to contribute to significant growth during the forecast period. Some pet owners are very particular about representing their lifestyles by spending on comfortable and luxurious products for their pets. This encourages market competitors to launch numerous new and customized products in the pet grooming service segment. Consumers are looking to plug the familial gap with a pet companion. These factors have led to a marketplace led by small animals such as cats and dogs, as indulgent pet owners are happy to spend heavily on ensuring the best quality of life for their pets, which has driven the demand for pet care products. The pet humanization trend is supporting the market growth with a number of companies investing in R&D to create new and interesting products.
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North America is Leading the Pet Care Market
The pet care market in North America is well matured in terms of consumers and available products in the market. Premiumization is playing a key role in driving the sales of pet care products in North America. There is a growing demand for natural pet food, which is gaining traction among US consumers, owing to obesity risks in pets such as dogs and cats. According to the Association for Pet Obesity Prevention, an estimated 55% of dogs and cats in the United States are obese. This presents a greater opportunity for manufacturers to add quality ingredients and diets and launch added value products to cater to the growing consumer interest toward premium products. With more product launches with value-added quality ingredients, the demand for pet care products is expected to grow further during the forecast period.
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The market is highly concentrated with the presence of international brands such as Mars Incorporated, Colgate-Palmolive, Nestle SA (Purina), and General Mills Inc. (Blue Buffalo). These companies are using acquisition as their key strategy to consolidate their market shares and strengthen their positions in the market. For instance, in May 2016, Agrolimen acquired Nature's Variety, a manufacturer of pet food, to improve the quality of pet food products by incorporating high-quality ingredients in its products.
In June 2020, Pedigree, a subsidiary of Mars Inc., launched three new dental care products, “Dentastix”, for dogs. Dentastix Chewy Chunx helps prevent plaque build-up throughout the day. It was launched in chicken and beef flavors, with mini or maxi options for smaller or larger dogs.
In June 2020, Royal Canin, a subsidiary of Mars Inc., launched “Royal Canin Yorkshire Terrier Adult 8+” for dogs. The mini kibble is adapted to the mature Yorkie’s small jaw in terms of size, shape, and texture and contains calcium chelators to support oral health.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study and Market Definition
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Pet Type
5.1.4 Other Pet Types
5.2 Product Type
5.2.1 Pet Food
5.2.2 Pet Care
126.96.36.199 Oral Care
188.8.131.52 Dietary Supplements
184.108.40.206 Veterinary Diets
5.2.3 Grooming Products
220.127.116.11 Shampoos and Conditioners
18.104.22.168 Combs and Brushes
22.214.171.124 Clippers and Scissors
126.96.36.199 Other Grooming Products
5.3 Distribution Channel
5.3.1 Offline Retail Stores
5.3.2 Online Retail Sores
5.4.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.4.4 South America
126.96.36.199 Rest of South America
5.4.5 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Incorporated
6.3.3 Nestle SA (Purina)
6.3.4 General Mills Inc. (Blue Buffalo)
6.3.5 The J.M. Smucker Company
6.3.6 heristo aktiengesellschaft
6.3.7 Champion Petfoods LP
6.3.8 The Hartz Mountain Corporation
6.3.10 Tail Blazers
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Pet Care Market market is studied from 2016 - 2026.
What is the growth rate of Global Pet Care Market?
The Global Pet Care Market is growing at a CAGR of 7.4% over the next 5 years.
Which region has highest growth rate in Global Pet Care Market?
Latin America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Pet Care Market?
North America holds highest share in 2020.
Who are the key players in Global Pet Care Market?
Mars incorporated, Colgate-Palmolive, General Mills Inc (Bluebuffalo), The J.M. Smucker Company, Nestle Purina are the major companies operating in Global Pet Care Market.