Pune, India, May 15, 2023 (GLOBE NEWSWIRE) -- The global pet furniture market size was valued at USD 3.81 billion in 2022 and is projected to grow from USD 4.01 billion in 2023 to USD 6.09 billion by 2030, exhibiting a CAGR of 6.14% during the forecast period. Pet beds and furniture, often known as animal-friendly furniture, are made to offer shelter and a place to rest for cats, dogs, and rabbits at home. For the betterment of pets' health, manufacturers are creating novel products like orthopaedic and temperature-controlled electrical heating beds, which is driving up demand for the goods. With its accessibility to the middle class, faux fur and wicker products are in demand all over the world. Fortune Business Insights presents this information in their report titled "Global Pet Furniture Market, 2023–2030."
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List of Key Players Profiled in the Pet Furniture Market Report:
- Go Pet Club (U.S.)
- Ware Pet Products (U.S.)
- Inter IKEA Systems B.V. (Netherlands)
- PetPals Group (U.S.)
- MidWest Homes for Pets (U.S.)
- North American Pet Products (U.S.)
- Aosom LLC (U.S.)
- MiaCara GmbH & Co. KG (Germany)
- Fable Pets, Inc. (U.S.)
- Critter Couch Company (U.S.)
- Furhaven Pet Products (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.14% |
| 2030 Value Projection | USD 6.09 Billion |
| Market Size in 2022 | USD 3.81 Billion |
| Historical Data | 2019-2020 |
| No. of Pages | 189 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Pet Furniture Market Growth Drivers | Availability of Various Multifunctional and Customized Products to Favor Market Expansion |
| Increasing Number of Pet Owners across the Globe is Surging the Demand for Pet Furniture |
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Segments:
Growing Consumer Interest in Pet Sofas and Beds is Driving Market Growth
Based on type, the market is segmented into pet sofas & beds, pet houses, pet trees, and others. Pet furniture is greatly preferred because, in addition to providing comfort for pets, it is frequently seen as a decorative item for homes, are multifunctional, and has a stylish look.
Increase in Dog Population Will Speed Up Product Sales for Pet Furniture
The market is classified based on pet type into dogs, cats, aquatic pets, birds, and others. Global furniture sales are dominated by the dogs. During the lockdown, a rise in the number of pets, particularly dogs, will speed up sales of pet beds and furnishings globally. The pandemic caused a lot of dog ownership in the U.S.
Globally, Growing Number of Offline Retail Stores to Drive Product Sales
Based on distribution channel, the market is classified into offline retail and online retail/e-commerce. In the upcoming years, offline retail sales channels will rule the market. In 2020, the pet sector grew as a result of an increase in the number of pet owners during lockdowns in nations like the U.S., Germany, India, and China.
COVID-19 Impact:
Substantial Increase in the Number of Pets During the COVID-19 Pandemic
The COVID-19 pandemic has reduced several global industries' revenue streams. Large swaths of the world's population experienced loneliness and anguish as a result of the pandemic's global lockdown in 2020. Pets make wonderful companions for pet owners, and in 2020, the pet business will have a lot of growth potential as a result of the widespread adoption of pets. However, the market is still expanding in many areas, and 2020 sales may have been affected by poor awareness.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Numerous Multifunctional and Customized Goods are Available, Favoring Market Growth
Demand for the product is rising as a result of the introduction of high-quality, versatile, and personalized pet beds and furnishings that can accommodate all pet sizes. A key element driving the market's pet furniture product sales is the availability of dog and cat furniture goods that are tailored to consumer tastes, including varied colors, patterns, and features that ensure pet comfort. Innovative multipurpose furniture products that pet owners and animals can use are the manufacturers' main focus, which will result in an increase in the pet furniture market share.
On the contrary, using sustainable and high quality materials for pet furniture results in high costs, which may hamper the pet furniture market growth.
Regional Insights
Increased Pet Population in North America Dominates the Market
Throughout the projection period, it is anticipated that the North America market will expand significantly. One major aspects driving up demand for pet beds and furniture is the increase in the number of pets in the U.S. during the lockdown. U.S. had the largest percentage of households with pets in 2021, according to the American Pet Products Association, are Wyoming (72%), West Virginia (71%), Idaho, Vermont, and Nebraska (70%).
Europe is expected to have a significant growth due to rising population of pets and also increasing demand for pet beds & furniture in European countries such as Germany, the U.K., and France.
Competitive Landscape
Geographic Expansion and Introduction of New Products to Boost Sales and Product Visibility
To preserve their market position, major players in the market have implemented a variety of competitive strategies and are now concentrating on designing and making innovative multipurpose pet goods. To create innovative product designs, the big firms in a fragmented market invest in research and development operations. For example, a French pet care firm called ZOLUX debuted its new line of eco-friendly cat housing in January 2021. Cat trees and little cat houses were offered in the sustainable product line.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain and Regulatory Landscape
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market
- Global Pet Furniture Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Pet Sofas & Beds
- Pet Houses
- Pet Trees
- Others
- By Pet Type
- Dogs
- Cats
- Aquatic Pets
- Birds
- Others
- By Distribution Channel
- Offline Retail
- Online Retail/ E- Commerce
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued...!
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Key Industry Development:
- March 2022 – Aldi, a Germany-based brand, launched new stylish mini velvet chairs available in three colors for dogs.
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Pet Clothing Market Size to Worth USD 7 Billion by 2028 | At 4.4% CAGR
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