Market Size of Pet Care Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 20.02 Billion |
| Market Size (2029) | USD 24.59 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pet Care Market Analysis
The Pet Care Market size is estimated at USD 20.02 billion in 2024, and is expected to reach USD 24.59 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
- The pet care industry has been experiencing positive growth due to a surge in the adoption of pets worldwide. According to Industrieverband Heimtierbedarf (IVH) e.V, the cat population in Germany has increased by 1 million to reach 16.7 million in 2021. This has stimulated the demand for pet services and products and encouraged significant growth in the pet care market.
- Many other major countries, such as the United States, Brazil, and the United Kingdom, have experienced a similar surge in pet populations, increasing the demand for pet care products worldwide. In recent years, many people have invested in pet care products such as accessories, pet health, and pet fashion, as pets are seen as family members. This is even higher in the millennial generation of developing and developed countries worldwide.
- Along with this, the rise in disposable incomes has increased the willingness of pet owners to spend on high-quality products. Therefore, the growing interest in pet humanization, coupled with a rise in demand for premiumization in pet care products, is driving the market growth for pet care products.
Pet Care Industry Segmentation
The pet care market involves products used in pet food and safety, nourishment, exercise, and medical attention. It also includes oral care, veterinary care, dietary supplements, pet grooming, pet fashion products, etc.
The pet care market is segmented by pet type (dog, cat, fish, and other pet types), product type (pet food, pet care, and grooming products), distribution channel (offline retail stores and online stores), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).
The report offers the market size and forecasts in value (USD) for all the above segments.
| Pet Type | |
| Dog | |
| Cat | |
| Fish | |
| Other Pet Types |
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| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Sores |
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Pet Care Market Size Summary
The pet care market is experiencing robust growth, driven by an increase in pet adoption globally and a shift in consumer attitudes towards pets as family members. This trend, known as pet humanization, is significantly influencing the demand for premium and high-quality pet care products, including accessories, health products, and fashion items. The rise in disposable incomes has further encouraged pet owners to invest in these products, particularly among millennials in both developed and developing countries. The market is also seeing a surge in interest for innovative products such as activity tracking collars, which cater to the lifestyle and health-conscious pet owners. This growing demand is prompting market competitors to introduce new and customized offerings, particularly in the pet grooming segment, thereby driving the overall market growth.
In North America, the pet care market is well-established, with a strong focus on premiumization and natural pet food options to address obesity concerns among pets. The presence of multinational companies like Mars Pet Care, Nestle SA - Purina, and Colgate-Palmolive (Hills Pet Nutrition) underscores the competitive landscape, as these firms engage in strategic activities such as acquisitions and product launches to enhance their market positions. The market's concentration and the ongoing trend of pet humanization are expected to sustain growth, with manufacturers increasingly focusing on value-added products to meet the evolving consumer preferences. This dynamic environment is anticipated to continue driving the expansion of the pet care market over the forecast period.
Pet Care Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Pet Type
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2.1.1 Dog
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2.1.2 Cat
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2.1.3 Fish
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2.1.4 Other Pet Types
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2.2 Product Type
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2.2.1 Pet Food
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2.2.1.1 Dry
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2.2.1.2 Wet
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2.2.2 Pet Care
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2.2.2.1 Oral Care
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2.2.2.2 Dietary Supplements
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2.2.2.3 Veterinary Diets
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2.2.3 Grooming Products
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2.2.3.1 Shampoos and Conditioners
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2.2.3.2 Combs and Brushes
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2.2.3.3 Clippers and Scissors
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2.2.3.4 Other Grooming Products
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2.3 Distribution Channel
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2.3.1 Offline Retail Stores
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2.3.2 Online Retail Sores
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Russia
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 South Africa
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle-East and Africa
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Pet Care Market Size FAQs
How big is the Pet Care Market?
The Pet Care Market size is expected to reach USD 20.02 billion in 2024 and grow at a CAGR of 4.20% to reach USD 24.59 billion by 2029.
What is the current Pet Care Market size?
In 2024, the Pet Care Market size is expected to reach USD 20.02 billion.
