NEWARK, Del, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The Global Pet Care Market is predicted to be valued at US$ 211.1 Billion in 2023 and US$ 430 Billion by 2033. Over the projection period, sales in the pet care market are expected to increase at a CAGR of 7.4%. The integration of technology into pet care is an avenue that remains largely unexplored. From wearable health trackers and smart feeding solutions to virtual pet healthcare platforms, the intersection of pets and technology offers limitless potential.
The rising wave of eco-consciousness extends to pet care. Biodegradable waste products, sustainable packaging, and organic grooming solutions are untapped areas where businesses can cater to the growing environmentally conscious pet owner demographic. As the importance of mental well-being gains traction, the concept of mental health for pets is emerging. Products and services focused on alleviating anxiety, stress, and behavioral issues in pets present an exciting and uncharted frontier.
Pet owners are increasingly treating their furry companions as family members. This trend has led to the rise of premium pet care products and services, including gourmet treats, luxury grooming, and high-end accessories. Personalization is not limited to humans; it is extending to pets too. Customized diets, tailored exercise regimens, and bespoke grooming services cater to the individual needs and preferences of each pet.
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Virtual pet communities and social media influencers are shaping pet ownership. Brands are leveraging these platforms to engage with pet owners, offer advice, and market products directly to engage audiences. The demand for holistic wellness products and practices for pets is on the rise. Natural and herbal remedies acupuncture, and alternative therapies are gaining popularity among pet owners seeking comprehensive well-being for their companions.
Key Takeaways from the Pet Care Market:
- The pet care market is led by the United States, projecting a 7.3% CAGR until 2033.
- China is at the forefront, anticipating 7.1% CAGR growth in protective clothing by 2033.
- The United Kingdom is poised for a 7.2% CAGR by 2033.
- The product segment is set to dominate with a 63% global market share.
- FMI predicts the dogs segment to grow at a remarkable 7.7% CAGR through 2033.
“An FMI analyst notes that the pet care sector is experiencing rapid expansion, propelled by changing consumer inclinations, increased emphasis on pet welfare, and a notable rise in inventive, customized offering,” remarks an FMI analyst.
How Are Key Players Revolutionizing the Manufacturing Pet Care Market?
Key players are spearheading a transformative shift in the pet care market. Through cutting-edge innovations, personalized services, and holistic approaches, they are redefining pet wellness. Advanced technologies like AI-driven nutrition plans and telehealth services ensure tailored care.
Sustainable and organic product offerings cater to eco-conscious pet owners. Collaborations with veterinarians and animal behaviorists enhance comprehensive pet well-being. These players not only address conventional needs but also tap into the emotional bond between pets and their owners, marking a remarkable revolution in the pet care industry.
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Top 10 Manufacturers in Global Pet Care Market
- Procter & Gamble Co.
- JM Smucker Co.
- Nestlé Purina Pet Care Co.
- Monge & C. S.p.a
- Hill’s Pet Nutrition SNC
- Royal Canin SAS
- Affinity Petcare France SA
- Champion Pet Foods LP
- Cargill
- C & D Foods
Product Portfolio
- Offering an exquisite range of premium pet food, Monge & C. Spa provides delectable nutrition solutions for dogs and cats. Their portfolio boasts gourmet creations crafted from high-quality ingredients to ensure the optimal health and well-being of beloved pets.
- Hill’s Pet Nutrition SNC excels in tailored pet care, delivering scientifically formulated food. Their portfolio includes specialized diets catering to specific needs, promoting pets' longevity and vitality through optimal nutrition.
- Royal Canin SAS presents a comprehensive line of breed-specific and age-appropriate pet nutrition. With a commitment to precision, their portfolio encompasses meticulously designed formulas to enhance pets' overall health and contribute to their unique nutritional requirements.
Segmentation Analysis of the Pet Care Market
By Service:
- Pet Care Products
- Pet Food
- Pet Healthcare
- Fashion, Toys, and Accessories
- Pet Care Professional Services
- Day Care
- Grooming Boarding
- Pet Breeding and Training
- Pet Care Value Added Services
- Insurance
- Veterinary Care
- Pharmacies
- Adoption and Charity
- Pet Care Crisis Relief Services
By Pet Type:
- Dogs
- Cats
- Birds
- Fish and Reptiles
- Small Pets
- Horses & Other Livestock
By Service Channel:
- Modern Trade
- Convenience Stores
- Care Services Centers
- Veterinary Clinics
- Online Retails
- Support Care Centers
- Pet Specialty Stores
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East & Africa
More Insights Available
Future Market Insights offers an unbiased analysis of the pet care market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pet care market, the report is segmented on the basis of Service (Pet Care Products (Pet Food, Pet Healthcare and Fashion, Toys, and Accessories), Pet Care Professional Services (Day Care, Grooming Boarding and Pet Breeding and Training), Pet Care Value Added Services (Insurance, Veterinary Care, Pharmacies and Adoption and Charity), Pet Care Crisis Relief Services), Pet Type (Dogs, Cats, Birds, Fish and Reptiles, Small Pets and Horses & Other Livestock), Service Channel (Modern Trade, Convenience Stores, Care Services Centers, Veterinary Clinics, Online Retails, Support Care Centers and Pet Specialty Stores), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).
About the Consumer Products Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Explore FMI's Extensive Ongoing Coverage of Consumer Product Market Insights
Pet Perfume Market Size: The demand for pet perfume is likely to grow to a valuation of US$ 2.3 Billion by 2032 with an anticipated CAGR of 5% through 2032.
Pet OTC Medication Market Share: The global pet OTC medication market is estimated to reach US$ 8.5 Billion in 2022 and is projected to reach US$ 13.2 Billion by 2032, with demand surging at a CAGR of 4.5% from 2022 to 2032.
Pet Monitoring Camera Market Demand: The global demand for pet monitoring cameras is expected to exhibit a CAGR of 5.5% per year to US$ 54.3 million in 2022.
Pet Lodging Market Trends: The pet lodging market is estimated to be valued at US$ 4 billion in 2023 and is expected to total US$ 7 billion by 2033. The adoption of pet lodging likely to advance at a CAGR of 5.7% during the forecast period.
Pet Stain Remover and Odor Control Market Analysis: The pet stain remover and odor control market is estimated to be valued at US$ 9 billion in 2023 and is expected to reach US$ 14 billion by 2033. The adoption of pet stain remover and odor control likely to advance at a CAGR of 4.5% during the forecast period.
Pet Market Forecast: The pet market is estimated to be valued at US$ 18 billion in 2023 and is expected to reach US$ 39 billion by 2033. The adoption pet likely to advance at a CAGR of 8% during the forecast period.
Pet Water Dispenser Market Outlook: The pet water dispenser market is estimated to be valued at US$ 153 million in 2023 and is expected to reach US$ 260 million by 2033. The adoption of pet water dispensers is likely to advance at a CAGR of 5.4% during the forecast period.
Pet Daycare Market Growth: Demand for pet daycare services, in terms of value, is estimated to be around US$ 4.06 billion. Furthermore, it is projected to reach US$ 8.84 billion by 2033, registering a CAGR of 8.1% from 2023 to 2033.
Pet Bathing Supplies Market Values: The market value of the pet bathing supplies market is anticipated to reach a high of US$ 15,338.6 million by the year 2033. The analysts of Future Market Insights have recorded a historical CAGR of 3.0% during 2018 to 2022.
Pet Oral Care Market Sales: The overall pet oral care market share is projected to reach US$ 17,016.0 million by 2033, following a moderate CAGR of 3.3% from 2023 to 2033
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