Pet Care Market to Reach $269.4 Billion Globally by 2030 at a CAGR of 6.2%: Allied Market Research
High urbanization and transition to nuclear families in emerging economies along with the rapid growth of pet stores, are driving the growth of the global pet care market.
PORTLAND, Oregon., April 5, 2022 /PRNewswire/ — Allied Market Research released a report titled “pet care market by product type (brushes, shower and bath accessories, toothpaste, grooming wipes, shampoos/conditioners, cat litter, pet comb, tick repellent, dry food, wet food, treats and snacks and others ), Animal Type (Dogs, Cats, Birds and Others) and Distribution Channel (Supermarkets, E-Commerce, Specialty Pet Stores and Others): Global Opportunities Analysis and Industry Forecast 2021-2030“. According to the report, the global pet care industry generated $138.2 billion in 2020, and should generate $269.4 billion by 2030, with a CAGR of 6.2% from 2021 to 2030.
Main determinants of growth
The push of urbanization and the shift towards nuclear families in emerging economies, along with the rapid growth of pet stores, is driving the growth of the global pet care market. However, the strict government standards on the production of pet food and the high death rate of pets are hampering the growth of the market. On the other hand, the growing popularity of pet cafes presents new opportunities in the coming years.
- The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global pet care market, owing to the growing concerns among pet owners regarding their pet’s health.
- The pet care industry has seen a significant increase in sales of pet food and other essential pet accessories during the pandemic.
- The trend will also continue after the pandemic.
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the dry food segment to maintain its leading status throughout the forecast period
Based on product type, the dry food segment held the highest market share in 2020, accounting for almost a third of the global pet care market, and is expected to maintain its leading status throughout. of the forecast period. This is because it provides sufficient nutrition for pets and is good for dental and oral health. Additionally, the cat litter segment is expected to show the highest CAGR of 7.9% from 2021 to 2030, owing to the increase in the adoption of cats as pets globally.
The dog segment to maintain its leading position during the forecast period
Based on animal type, the dog segment accounted for the largest share in 2020, contributing more than a third of the global pet care market, and is expected to maintain its leading position during the period. forecast. This is due to the increase in the trend of pet adoption among Millennials and Gen Z, increase in urban population, shift to nuclear families, adoption of pets companionship by geriatrics and the increasing dog population. However, the bird segment is expected to show the largest CAGR of 7.0% from 2021 to 2030, due to the growing popularity of smaller companions.
North America maintain dominance by 2030
Based on the region, North America held the highest market share by revenue in 2020, accounting for more than one-third of the global pet care market, owing to the increased awareness of pet health. Moreover, the Asia Pacific The region is expected to witness the fastest CAGR of 7.0% over the forecast period, driven by apartment culture, trend of nuclear families and need for companionship.
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Main market players
- Beaphar, B.V.
- Colgate Palmolive Corporation
- EBOS Group Limited
- GeneralMills, Inc.
- Heristo AG
- Nestlé SA
- SA for pets
- Petlife International Ltd.
- Schell & Kampeter, Inc.
- Thai Union Group Plc
- The JM Smucker Company
- Unicharm Corporation
- Versele-Laga SA
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