Pet Care Market to Garner $269.4 Billion, at 6.2% CAGR, by

Wilmington, Delaware, Nov. 10, 2023 (GLOBE NEWSWIRE) — Allied Market Research released a report, titled “Pet care market by product type (brushes, shower and bath accessories, toothpaste, grooming wipes, shampoo/conditioner, 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 Shops, and Others): Global Opportunity Analysis and Industry Forecast 2021-2030According to the report, the global pet care industry reached $138.2 billion in 2020, and is expected to earn $269.4 billion by 2030, registering a CAGR of 6.2% from 2021 to 2030.

Primary determinants of growth

The growth of the global pet care market is driven by increasing urbanization and the shift towards nuclear families in emerging countries along with rapid growth of pet stores. However, high pet death rate and strict government norms on pet food production are hindering the growth of the market. On the other hand, the growing popularity of pet cafes creates lucrative opportunities in the coming years.

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tea dogs segment to to dominate during the forecast period

On the basis of animal type, the dog segment generated the largest share in 2020, holding more than one-third of the global pet care market, and is expected to maintain its leading position during the forecast period. Factors such as increasing population urbanization, increasing dog population, increasing trend of pet adoption among millennials and generation Z, the shift towards nuclear families, and pet adoption by geriatricians lead the segment. However, the bird segment is expected to show the largest CAGR of 7.0% from 2021 to 2030, due to an increase in popularity of small companies.

The dry food segment to keep up his lead throughout the forecast period

On the basis of product type, the dry food segment contributed the highest market share in 2020, holding nearly one-third of the global pet care market, and is expected to dominate the entire forecast period, since it offers sufficient nutrition to animals. and is good for dental and oral health. On the other hand, the cat litter segment is recorded to grow at the highest CAGR of 7.9% from 2021 to 2030, owing to the increasing adoption of cats as pets in the globe

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North America to lead the track by 2030

On the basis of region, North America contributed the largest market share in terms of revenue in 2020, holding more than one-third of the global pet care market, attributed to the increase in animal health awareness. However, the market across the Asia-Pacific region is expected to exhibit the fastest CAGR of 7.0% during the forecast period, owing to the trend of nuclear families, apartment culture and the need for companionship.

Major market players

• General Mills, Inc.
• Petlife International Ltd.
• Schell & Kampeter, Inc.
• Thai Union Group Plc
• The JM Smucker Company
• Unicharm Corporation

• Beaphar, BV
• Colgate Palmolive Company
• EBOS Group Limited
• Heristo AG
• Nestle SA
• Pet AG
• PetEdge
• Versele-Laga NV

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The report provides a detailed analysis of these key players of the global travel retail market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements and others to increase their market share and maintain the dominant share in various regions. The report is valuable in highlighting the company performance, operating segments, product portfolio and strategic moves of the market players to show the competitive landscape.

Country reports we have in this industry:

• Pet Pull Ropes Market : Global Opportunity Analysis and Industry Forecast, 2023-2032
• The US Pet Travel Accessories Market : Industry Forecast and Opportunity Analysis, 2021-20311
• United States Animal Market : Industry Forecast and Opportunity Analysis, 2021-2031
• The US pet clothing market : Industry Forecast and Opportunity Analysis, 2021-2031
• Functional US Pet Treat Market: Global Opportunity Analysis and Industry Forecast, 2022-2032

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Pawan Kumar, the CEO of Allied Market Research, leads the organization to deliver high-quality data and insights. We are in professional corporate relations with various companies and this helps us to dig the market data which helps us to generate accurate research data tables and confirms the maximum accuracy in our market forecast. All data presented in the reports published by us are extracted from primary interviews with the main officials of the main companies of the domain concerned. Our secondary data acquisition methodology includes in-depth online and offline research and discussions with industry experts and analysts.

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