Market Trends of Pet Hair Care Industry
The Dog Segment is Expected to Hold a Significant Market Share During the Forecast Period
The dog segment is expected to hold a significant market share owing to the rising dog population, which is leading to high expenditure on dog health products and driving the market growth. For instance, according to the Pet Food Manufacturing Association (PFMA) commissions in 2021, it was estimated that 17 million (59% of) households have pets, out of which 12.5 million are dogs (33%). The increasing pet adoption is expected to boost the demand for pet hair care products for dogs, thereby boosting segment growth.
Furthermore, human-centric personal care brands have entered the pet grooming space, with Hempz, Wet Brush, and Waterpik all releasing successful pet product crossovers. However, retailers and brands need to offer easy-to-use, comprehensive product kits that satisfy a variety of grooming needs as consumers familiarize themselves with at-home pet care. For instance, in November 2021, Faith in Nature released a new dog shampoo range for pooch pampering.
The rising launches for dogs by market players are contributing significantly to the market growth during the forecast period. For instance, in August 2022, Friday's Dog Holdings Inc., a line of scientifically-grounded pet care and grooming products for dogs, launched six grooming products in America. Also, in March 2021, the luxury hair-care brand Ouai launched its Fur Bébé pet shampoo to coincide with National Puppy Day. These launches are expected to expand the dog hair care offerings, thereby propelling the segment's growth.
Thus, owing to the aforementioned factors, the studied segment is expected to witness significant growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America is anticipated to hold a significant market share owing to the factors such as increasing pet adoption and rising spending on pet healthcare and insurance and increasing launches by market players to expand the pet hair care offerings in the region.
The rising number of pet insurance in the region indicates the high spending on pets for their overall care, which is expected to propel the market growth. For instance, according to the 2022 statistics published by the Insurance Information Institute, in the United States, 3.9 million pets were insured in 2021, with an increase of 20% compared to the previous year. Also, in Canada, 432.5 thousand pets were insured in 2021, with an increase of 22.7% as compared to the previous year. The rising number of pet insurance in the region signifies a higher pet adoption and spending by pet parents, which is further anticipated to fuel market growth over the forecast period.
The launches by market players and partnerships to expand the pet hair care offerings are expected to propel the market growth. For instance, in December 2021, Grove Collaborative launched the pet care brand, Good Fur, a new line of cruelty-free pet grooming products offering shampoos, conditioners, accessories, and more, bringing its sustainable innovation to consumers' furry families.
Furthermore, in August 2022, Friday's Dog partnered with Best Friends Animal Society. Under the partnership, for each grooming product purchased by Friday's Dog, the company will wash one dog in a Best Friends Animal Sanctuary in an effort to give them a better chance at finding a loving forever home. Such partnerships and launches are expected to boost the demand for pet care, propelling the market growth during the forecast period.
Therefore, owing to the above-mentioned factors such as the high spending on pet care and rising product launches and partnerships by market players, the growth of the studied market is anticipated in the North America Region.
