Pet care market size worth $232.14 billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, April 20, 2022 /PRNewswire/ — The Global pet care market the size should reach $232.14 billion by 2030, according to a new report from Grand View Research, Inc. 2020 hasn’t been a very promising year for most industries, but it’s been a boon for the pet care industries due to repeated shutdowns and working from home, which has led people to better take care of their pets. This has stipulated the demand for pet services and products a significant increase in the market.
Main information and conclusions of the report:
- During the forecast period, the companion dog segment is expected to account for the largest market share. This growth is attributed to an expected huge increase in dog adoption in the coming years due to changing lifestyles and growing awareness of the benefits of canine companionship.
- The pet care services segment is expected to register growth at a CAGR of 5.2% during the forecast period. Innovation in products such as moisturizers, creams and lotions is likely to propel the growth of the segment.
- North America contributed the majority of the revenue share of the global revenue in 2021. During the forecast period, the growing demand for natural and premium products is expected to drive the growth of the regional market.
Read the 80-page market research report, “Pet Care Market Size, Share and Trends Analysis Report by Pet Types (Dog, Cat, Fish, Bird), by Type (Products, Services, Foods), by region and segment forecast, 2022-2030“, published by Grand View Research.
Pet Care Market Growth and Trends
Additionally, growing awareness of the humanization of pets and increasing consumer spending power, coupled with an increase in demand for high-end pet care products, is driving the growth. of the market. Due to urbanization, people are living in smaller residential spaces, however, this has increased the adoption of smaller pets such as dogs, fish, hamsters, cats, etc. Consumers are looking to bridge the family gap with their pet.
Premium pet care products are natural, higher quality, and safer than regular pet care products. With the increase in demand for high-end pet grooming products around the world, several companies are trying to capture the majority of shares in this segment. For example, in 2020, BASF Care Creations at North America launched 3 formulations for the dog grooming segment: Creamy Co-Wash for Dogs, Fresh Obsessed Dry Shampoo Mist and Micellar Dog Shampoo. Likewise, in 2021, Pure and Natural Pet, a US-based pet care company, added new USDA-certified products to its line of pet health and care products.
According to Pet Biz Marketer, pet food accounts for about 3/4 of all sales in the pet industry. There has been a noticeable increase in the trend for pet food brands to gain market share through niche pet foods. One of the fastest growing niche food categories is freeze dried dog food, it is dog food that is freeze dried to extend shelf life. Petfoodindustry.com reports that sales of non-traditional pet food formats are growing faster than traditional pet food.
Take care of an animal Market segmentation
Grand View Research has segmented the global pet care market based on animal type, type and region:
Pet Care Pet Type Outlook (Revenue, USD Million, 2017 – 2030)
Pet Care Type Outlook (Revenue, USD Million, 2017 – 2030)
- pet litter
- Pet grooming products
- Fashion, toys and accessories
- boarding for pets
- Animal training
- Veterinary care/ Medical care
- Pet grooming service
- Dry foods
- Wet/ canned
Pet Care Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of Pet Care Market Key Players
- Ancol Pet Products Limited
- Blue Buffalo Co., Ltd.
- Champion Petfoods LP
- Hill`s Pet Nutrition, Inc.
- March, Incorporated
- Nestle Purina PetCare
- Petmate Holdings Co
- Saturn Petcare GmbH
- Tail Blazers
- The Hartz Mountain Corporation.
Check out other related studies published by Grand View Research:
- US Surgical Pet Collars Market – The U.S. Surgical Pet Collars Market Size is Expected to Reach $219.0 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.2% from 2021 to 2028. Rising healthcare expenditures for pets, growing demand for insurance and increase in pet adoption rate is expected to propel the growth of the market.
- Inflatable Pet Collars Market – Global Inflatable Pet Collars Market Size is Expected to Reach $107.2 million by 2027, according to a new report from Grand View Research, Inc., growing at a CAGR of 5.0% from 2020 to 2027. Growing adoption of pets, coupled with higher consumer spending on pets, is driving the demand for animal welfare products driving market growth. The negative impositions of electronic collars on pets regarding self-trauma, discomfort, and mishaps also pave the way for increased adoption of inflatable pet collars in the event of injury.
- pet sitting market – The global pet sitting market size is expected to reach $5.0 billion by 2027, according to a new report from Grand View Research, Inc., expanding at a CAGR of 8.7% from 2020 to 2027. In addition, increased spending by pet owners on various pet services owing to the high indulgence of millennial pet owners and their high spending power has fueled the demand for animal care services.
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About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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