Pet Care Market Insight
The global pet care market is projected to grow at the rate of 5.8% during the forecast period 2018 to 2023 owing to increasing product innovation, customization, affordable pricing of pet care products especially pet food across the globe. Growing demand for more transparency in pet care product ingredients from pet owner is changing the market dynamics from last few years. To cater to this consumer demand, major players in the market have developed special pet food products. For instance, Wild Earth is being marketed as a vegan pet food line that provides dogs with the protein sources. The main ingredient in the company’s first cultured protein product is koji, a fungus that is also found in miso soup and soy sauce.
Product Innovation Likely to Drive the Pet Care Market Growth
Growing inclination towards safeguarding pets from sickness and injury is driving the market growth across the globe. For instance, bird groomers keep feathers clean and dry, trim beaks and nails, and help with uncomfortable molting. Demand of pet accessories such as pet toys and training instruments are majorly driven by affordability and availability of the products. However, increasing the preference for toys that are eco-friendly is playing key role to increase the sales of pet care accessories across the globe. Moreover, increase in number of product offerings from key players and development in distribution channel is also supporting the market growth. However, lack of awareness regarding the importance of specific pet food products is restraining the global pet care market at some extent.
Pet Food to Witness Significant Growth during the Forecast Period
Pet food segment is expected to hold significant market share during the forecast period followed by pet grooming products. Controlling the negative impact of food in the form of diseases and allergies is essential for the growth of the pet food industry. The major challenge here is to find and avoid the food ingredients responsible for skin and/or gastrointestinal conditions, allergies, and diseases. Additionally, key players are more focusing on specialty pet food which includes grain-free, non-GMO, allergen-free pet foods. This factor is supporting the pet care market. For instance, in 2018, Fiberstar, Inc. launched Citri-Fi 150 natural citrus fiber to improve the texture, enhance nutrition and provide cost savings in pet food and treats. Citri-Fi is sustainably produced from byproduct of the citrus fruit. The patented technology is a mechanical process which is free from chemicals and opens up the fiber to provide high water holding capacity.
Asia-Pacific Region to Witness Fastest Growth Rate in Pet Care Market during the Forecast Period
In Asia-Pacific, robust economic growth and rising household incomes are expected to increase consumer spending on pet care products in Asia-Pacific. In developing economies, growing spending capacity along with high internet penetration is changing the way consumers are buying pet care products. Growing government animal healthcare organizations and the rising awareness for veterinary health are driving the market growth in developed economies. In developing economies, growth of the market is attributed by growing pet ownership and rise in spending on premium pet care products like accessories and foods. Furthermore, the consumers in the developed region treat their pets as family members and are willing to spend on them liberally. Factors such as the premiumization of pet care products is expected to drive the growth of the market during the forecast period.
Key Developments in the Pet Care Market
- Jan 2018: Nestle entered in Indian pet care market with dog food under Supercoat brand. The Supercoat is includes range of complete and balanced food offers a wholesome combination of high quality natural ingredients free from added artificial colors, flavors or preservatives.
- Aug 2018: Vegan pet food startup Wild Earth partnered with Mars Petcare and secures USD 650,000 investment.
Competitive Landscape of Pet Care Market
- PetSmart Inc
- Petco Animal Supplies, Inc.
- Nestle S.A
- Ancol Pet Products Limited
- Mars Inc.
- Blue Buffalo Pet Products, Inc.
- Champion Pet Foods
- The Colgate-Palmolive Company
- Heristo AG
- Petmate Holdings Co.
- Kong Company
- Central Garden & Pet Company
Reasons to Purchase Pet Care Market Research Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Pet Care Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1.1 Scope of Study
1.2 Study Deliverables
1.3 Study Assumptions
1.4 Research Phases
2. Pet Care Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness – Porter’s Five Forces Analysis
2.3.1 Bargaining Power of Suppliers
2.3.2 Bargaining Power of Consumers
2.3.3 Threat of New Entrants
2.3.4 Threat of Substitute Products and Services
2.4.5 Degree of Competition
3. Pet Care Market Dynamics
3.1 Pet Care Market Drivers
3.2 RPet Care Market estraints
3.3 Pet Care Market Opportunities
4. Pet Care Market Segmentation
4.1 Pet Care Market By Pet Type
4.2 Pet Care Market By Product Category
4.2.1 Pet Food
4.2.2 Pet grooming/boarding
4.3 Pet Care Market By Distribution Channel
4.3.1 Offline retail stores
4.3.2 Online retail stores
5. Pet Care Market By Geography
5.1 North America Pet Care Market Size (2018-2023)
5.1.1 US Pet Care Market Size (2018-2023)
5.1.2 Canada Pet Care Market Size (2018-2023)
5.1.3 Mexico Pet Care Market Size (2018-2023)
5.1.4 Rest of North America Pet Care Market Size (2018-2023)
5.2 Europe Pet Care Market Size (2018-2023)
5.2.1 Spain Pet Care Market Size (2018-2023)
5.2.2 UK Pet Care Market Size (2018-2023)
5.2.3 Germany Pet Care Market Size (2018-2023)
5.2.4 France Pet Care Market Size (2018-2023)
5.2.5 Italy Pet Care Market Size (2018-2023)
5.2.6 Russia Pet Care Market Size (2018-2023)
5.2.7 Rest of Europe Pet Care Market Size (2018-2023)
5.3 Asia-Pacific Pet Care Market Size (2018-2023)
5.3.1 China Pet Care Market Size (2018-2023)
5.3.2 Japan Pet Care Market Size (2018-2023)
5.3.3 India Pet Care Market Size (2018-2023)
5.3.4 Australia Pet Care Market Size (2018-2023)
5.3.5 Rest of Asia-Pacific Pet Care Market Size (2018-2023)
5.4 South America Pet Care Market Size (2018-2023)
5.4.1 Brazil Pet Care Market Size (2018-2023)
5.4.2 Argentina Pet Care Market Size (2018-2023)
5.4.3 Rest of South America Pet Care Market Size (2018-2023)
5.5 Middle East & South Africa Pet Care Market Size (2018-2023)
5.5.1 South Africa Pet Care Market Size (2018-2023)
5.5.2 Saudi Arabia Pet Care Market Size (2018-2023)
5.5.3 Rest of Middle East & Africa Pet Care Market Size (2018-2023)
6. Pet Care Market Competitive Landscape
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
7. Pet Care Market Company Profiles
7.1 PetSmart Inc.
7.2 Petco Animal Supplies, Inc.
7.3 Nestle S.A.
7.4 Ancol Pet Products Limited
7.5 Mars Inc.
7.6 Blue Buffalo Pet Products, Inc.
7.7 Champion Pet Foods
7.8 The Colgate-Palmolive Company
7.9 Heristo AG
7.10 Petmate Holdings Co.
7.11 Kong Company
7.12 Central Garden & Pet Company