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Pet Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 121 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4622477
The pet care market is expected to register a CAGR of 7.4% during the forecast period, 2022-2027.

Although the year 2020 was not found to be very promising for all the other 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. For instance, according to American Pet Products Association’s National Pet Owner Survey, total pet industry expenditures in the United States totaled USD 69.5 billion in 2017, which increased to USD 103.6 billion by the end of 2020. This steady growth in pet products expenditure in the US indicates the rising spending culture among pet owners to create the best experiences for their companion animals.

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.

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.

Premium pet care products are natural, of higher quality, and safer than regular pet care products. With the increasing demand for premium pet grooming products globally, several companies are planning to come up with high-quality pet care products to occupy major market shares in this segment. For instance, in November 2020, BASF Care Creations, North America, launched three formulations specifically for dog grooming: Creamy Co-Wash for Dogs, Fresh Obsessed Dry Shampoo Mist, and Micellar Dog Shampoo.

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.



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 in 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.



Competitive Landscape


The pet care 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.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study and Market Definition
2 RESEARCH METHODOLOGY3 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
5.1.1 Dog
5.1.2 Cat
5.1.3 Fish
5.1.4 Other Pet Types
5.2 Product Type
5.2.1 Pet Food
5.2.1.1 Dry
5.2.1.2 Wet
5.2.2 Pet Care
5.2.2.1 Oral Care
5.2.2.2 Dietary Supplements
5.2.2.3 Veterinary Diets
5.2.3 Grooming Products
5.2.3.1 Shampoos and Conditioners
5.2.3.2 Combs and Brushes
5.2.3.3 Clippers and Scissors
5.2.3.4 Other Grooming Products
5.3 Distribution Channel
5.3.1 Offline Retail Stores
5.3.2 Online Retail Sores
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Incorporated
6.3.2 Colgate-Palmolive
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
6.3.9 Petmate
6.3.10 Tail Blazers
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

Samples

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Companies Mentioned

A selection of companies mentioned in this report includes:

  • Mars Incorporated
  • Colgate-Palmolive
  • Nestle SA (Purina)
  • General Mills Inc. (Blue Buffalo)
  • The J.M. Smucker Company
  • heristo aktiengesellschaft
  • Champion Petfoods LP
  • The Hartz Mountain Corporation
  • Petmate
  • Tail Blazers

Methodology

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