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Pet Care Market Size, Share, Forecast, & Trends Analysis by Offering (Pet Food & Nutrition [Dry Food, Treats, Vitamins, Supplements] Pet Products [Grooming {Shampoo, Conditioner, Brushes}, Oral Care] Pet Services) Sales Channel - Global Forecast to 2031
Report ID: MRHC - 1041224 Pages: 310 Jun-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 Hours Download Free Sample ReportThe Pet Care Market is expected to reach $287.96 billion by 2031, at a CAGR of 5.9% from 2024 to 2031. The growth of this market is driven by rising expenditures on pet health & insurance, a surge in pet adoption rates, and increasing disposable incomes in developing nations. Additionally, the introduction of new pet product categories and a shift towards premium pet products are expected to create market growth opportunities.
As pets increasingly become integral members of families, owners are investing more in their pets' health and well-being. This trend is benefiting various segments of the pet care industry, including pet food, grooming products, and veterinary care. Additionally, the humanization of pets has prompted owners to seek high-quality products and services for their pets. As a result, companies in the pet care market are innovating to meet evolving demands driven by rising pet expenditures. According to the American Pet Products Association, pet expenditure in the U.S. is projected to increase from USD 147.0 billion in 2023 to USD 150.6 billion in 2024. This expenditure encompasses spending on pet food, veterinary care, grooming, training, pet sitting, and walking, among other services.
An increasing number of people consider their dogs or cats as members of the family. From small startups to major pet retailers, companies are leveraging the trend of pet humanization to introduce innovative pet care products. Pet spending witnessed a significant increase during the COVID-19 pandemic, with 23 million U.S. households adopting new pets. According to data from the American Pet Products Association, pet-related expenditures rose from USD 90 billion in 2018 to USD 123 billion in 2021.
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Organic pet food is gaining popularity due to increased pet humanization and higher spending on pet products. Pet owners are increasingly prioritizing their pets' health and well-being and are more aware of the impact of diet on their pets' health. Organic pet food is preservative-free and offers optimal nutrition tailored to individual pets' needs. It contains high-quality proteins and grains that support a pet's immune system, promoting healthy growth. The increasing shift towards organic pet food is expected to drive the growth of the pet care market during the forecast period.
Pet owners are continuously seeking innovative ways to provide their pets with nutritious, satisfying, and vitamin-rich foods. As a result, manufacturers are increasingly utilizing premium ingredients to produce high-quality pet foods. Similarly, grooming products for pets, including shampoos and conditioners are now being formulated organically with natural ingredients, devoid of chemicals such as parabens and sulfates. This rising preference for premium pet products is expected to create market growth opportunities.
Based on offering, the pet care market is segmented into pet food, pet products, and pet services. In 2024, the pet food segment is expected to account for the largest share of 62.3% of the pet care market. This segment’s large market share can be attributed to the large pet population, rising awareness regarding the importance of nutrition and supplements for pet health, and the wide availability of various types of pet food tailored to meet diverse dietary needs.
Moreover, the pet food segment is projected to register the highest growth rate of 7.0% during the forecast period of 2024–2031. This segment’s growth is driven by the increasing pet adoption rates in developing countries, a rising shift towards premium pet food products, growing awareness in developing nations regarding the nutritional value of pet food over homemade alternatives, and ongoing innovations by pet food companies in terms of ingredients, taste, and palatability.
Based on animal type, the pet care market is segmented into dogs, cats, fish, birds, and other animals. In 2024, the dogs segment is expected to account for the largest share of 57.2% of the pet care market. This segment’s large market share can be attributed to the higher preference for dogs as pets compared to other animals.
Moreover, the dogs segment is projected to register the highest growth rate of 6.3% during the forecast period of 2024–2031. This segment’s growth is driven by the increasing adoption of pet dogs and the growing humanization of dogs, leading to an increased demand for accessories and clothing for dogs.
Based on sales channel, the pet care market is segmented into offline and online. In 2024, the offline segment is expected to account for a larger share of the market. This segment’s large market share can be attributed to the benefits offered by offline sales channels, such as easy accessibility and no waiting times. However, the online segment is projected to register a higher CAGR during the forecast period 2024-2031. This segment’s growth is driven by factors such as the increasing number of smartphone users, initiatives by companies to establish their own e-commerce platforms for pet products, attractive discounts and offers provided by online stores, and the availability of subscription models for pet foods and other recurring pet care products
Based on end user, the pet care market is segmented into pet owners, pet breeders & groomers, and veterinary professionals. In 2024, the pet owners segment is expected to account for the largest share of the pet care market. This segment’s large market share can be attributed to the growing inclination of pet owners towards premium pet products and the rising costs of pet care products.
Moreover, the pet owners segment is projected to witness the highest growth rate during the forecast period of 2022–2031. The rising expenditures on pet health and the rising trend of pet humanization drive this segment’s growth.
In 2024, North America is expected to account for the largest share of 39.2% of the pet care market, followed by Europe and Asia-Pacific. Furthermore, in 2024, the U.S. is expected to account for the largest share of the pet care market in North America. The country’s significant market share can be attributed to the high disposable incomes resulting in increased spending on pet care products and services, high awareness among the populace regarding pet health, and the availability of high-quality pet products and services across the country.
However, the market in Asia-Pacific is projected to register the highest growth rate of 7.7% during the forecast period. The growth of this market, particularly in countries such as China and India, is driven by rising pet adoption rates, increasing demand for pet care products fueled by growing disposable incomes, growing awareness regarding pet health and well-being, and the increasing availability of pet care products from international brands within the region.
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and financials and the key growth strategies adopted by them over the past 3–4 years. Some of the key players operating in the pet care market are Mars, Incorporated (U.S.), Hill`s Pet Nutrition, Inc. (U.S.), Blue Buffalo Company, Ltd. (U.S.), Ancol Pet Products Limited (U.K.), Saturn Petcare GmbH (Germany), Nestlé S.A. (Switzerland), Doskocil Manufacturing Company, Inc (U.S.), The Hartz Mountain Corporation (U.S.), Tail Blazers (Canada), J.M. Smucker Company (U.S.), Petco Animal Supplies, Inc. (U.S.), A Place for Rover, Inc. (U.S.), American Pet Resort, LLC (U.S.), Wag Labs, Inc. (U.S.), Pooch Dog SPA (Italy), AirPets International (U.S.), Groomer’s Choice (U.S.), Coastal Pet Products Inc. (U.S.), World 4 Pets Pty Ltd (Australia), SynergyLabs (U.S.), and 4-Legger, LLC (U.S.)
Particulars |
Details |
Number of Pages |
310 |
Format |
|
Forecast Period |
2024–2031 |
Base Year |
2023 |
CAGR (Value) |
5.9% |
Market Size (Value) |
USD 287.96 Billion by 2031 |
Segments Covered |
By Offering
By Animal Type
By Sales Channel
By End User
|
Countries Covered |
North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Ireland, Switzerland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa |
Key Companies |
Mars, Incorporated (U.S.), Hill`s Pet Nutrition, Inc. (U.S.), Blue Buffalo Company, Ltd. (U.S.), Ancol Pet Products Limited (U.K.), Saturn Petcare GmbH (Germany), Nestlé S.A. (Switzerland), Doskocil Manufacturing Company, Inc (U.S.), The Hartz Mountain Corporation (U.S.), Tail Blazers (Canada), J.M. Smucker Company (U.S.), Petco Animal Supplies, Inc. (U.S.), A Place for Rover, Inc. (U.S.), American Pet Resort, LLC (U.S.), Wag Labs, Inc. (U.S.), Pooch Dog SPA (Italy), AirPets International (U.S.), Groomer’s Choice (U.S.), Coastal Pet Products Inc. (U.S.), World 4 Pets Pty Ltd (Australia), SynergyLabs (U.S.), and 4-Legger, LLC (U.S.) |
The Pet Care Market is characterized by robust growth driven by rising expenditures on pet health, increasing pet adoption rates, and a shift towards premium pet products.
The Pet Care Market is anticipated to reach a substantial $287.96 Billion by 2031, reflecting significant growth in the sector.
The Pet Care Market is forecasted to expand at a CAGR of 5.9% from 2024 to 2031, indicating strong and consistent growth in the industry.
The Pet Care Market size is projected to grow to $287.96 billion by 2031, highlighting the sector's considerable expansion and increasing investment.
Major companies in the Pet Care Market include Mars, Inc., Hill’s Pet Nutrition, Blue Buffalo, Nestlé S.A., and Petco Animal Supplies, among others.
Trends in the Pet Care Market include the humanization of pets, the rise of organic pet food, and an increasing shift towards premium pet products.
Key drivers of the Pet Care Market include increased expenditures on pet health, rising pet adoption rates, and growing disposable incomes worldwide.
The Pet Care Market is segmented into pet food, pet products, pet services, and further by animal type and sales channels, including offline and online.
The global outlook for the Pet Care Market is positive, with North America holding the largest share and Asia-Pacific experiencing the highest growth rate.
The Pet Care Market is experiencing robust growth with a projected CAGR of 5.9%, expected to reach $287.96 billion by 2031, driven by rising pet expenditures.
The Pet Care Market is projected to grow at a CAGR of 5.9% from 2024 to 2031, showcasing significant expansion and development opportunities.
North America holds the highest market share in the Pet Care Market, thanks to high disposable incomes and significant spending on pet care products and services.
Published Date: Jun-2024
Published Date: Jun-2024
Published Date: Jun-2024
Published Date: May-2024
Published Date: May-2023
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