Trends and lucrative insights into the $241.1 billion pet care industry, with detailed profiles of 197 competitors including Hill’s Pet Nutrition, Mars, Nestle Purina PetCare and Unicharm – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Pet Care – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

The emergence of pets as family members drives consumer spending on pet care. The increase in the number of pet owners has driven global spending on pet care products like treats, health care, toys and other accessories. Stay-at-home restrictions due to the COVID-19 outbreak have presented the perfect opportunity to own a pet and spend time with pets. These benefits are creating a high demand for pets and driving pet adoption rates.

Factors such as higher disposable incomes and nuclear families are driving the adoption of pets, which is driving the pet care market. Additionally, the growing popularity of online channels along with the ability to remotely connect with professionals such as veterinarians via telehealth or other online options is driving the pet care market. Pet owners are opting for premium products for their pets, including products like organic pet food and pet grooming services, among others.

Market growth is facilitated by an increasing shift from traditional foods to gourmet options, prompting brands to come up with innovative products. Additionally, the involvement of millennial customers who are willing to buy organic products and spend on high-end pet hotels should present new growth opportunities. Technology enables advanced pet care products, including pet cameras, automated feeders, wearable pet tracking devices, and pet tracking apps to track maintenance pets.

Global Pet Care Market to Reach $241.1 Billion by 2026

Amid the COVID-19 crisis, the global pet care market estimated at US$179.4 billion in 2020 is expected to reach a revised size of US$241.1 billion by 2026, growing at a CAGR of 5.2% over the analysis period. Pet Food, one of the segments analyzed in the report, is expected to register a CAGR of 4.8% and reach US$113.9 billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the veterinary care segment is readjusted to a revised CAGR of 5.1% for the next 7-year period. The increase in the number of pets in the world and the increase in the disposable income of people over the years is driving the growth of the pet food market. The demand for pet food is also driven by the trend towards online shopping for pet food and the growing influence of clean labeling regulations. Veterinary care is becoming an increasingly important aspect of pet care. The segment covers routine veterinary care and sales of pharmaceutical products.

The US market is estimated at $79.3 billion in 2021, while China is expected to reach $7.9 billion by 2026

The pet care market in the United States is estimated to be worth US$79.3 billion in 2021. China, the world’s second largest economy, is expected to reach a projected market size of US$7.9 billion from by 2026, with a CAGR of 7% over the analysis period. Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 4.2% and 5.6% respectively over the analysis period.

In Europe, Germany is expected to grow around 4.1% CAGR. Developed economies in North America and Europe spend the most on pet care. Higher disposable incomes and nuclear families have led to widespread pet adoption in these markets. Additionally, established pet care services in these markets are contributing to the growth of the market. The humanization trend further contributes to the demand for a range of pet care products and services. China represents a promising regional market for companion animal care, due to the growing adoption of pets and pets in the country.

OTC/Supplies segment to reach $51.3 billion by 2026

The growing awareness of pet health and diseases is leading to an increase in the demand for over-the-counter pet medications. The availability of over-the-counter drugs at competitive prices and through various distribution outlets contributes to increased sales. Among the various medications, demand is high for flea and tick products, painkillers and arthritis. This is because flea allergy, dermatitis, and Lyme disease are the most common illnesses in pets, which are transmitted by fleas and ticks.

In the global OTC/Supplies segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 5.4% for this segment. These regional markets representing a combined market size of US$32.2 billion in 2020 will reach a projected size of US$46.4 billion by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$4.2 billion by 2026, while Latin America will grow at a CAGR of 6.8% over the analysis period.

Select competitors (total of 197 featured)

  • Ancol Pet Products Limited

  • Blue Buffalo Co. Ltd.

  • Champion Petfoods LP

  • Hill’s Pet Nutrition, Inc.

  • Mars Incorporated

  • Nestle Purina PetCare

  • Petmate

  • Saturn Petcare GmbH

  • Tail Blazers

  • The Hartz Mountain Corporation

  • The JM Smucker Company

  • Unicharm Corporation

Main topics covered

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Overview of the influencer market

  • Global Market Trajectories

  • Impact of the COVID-19 pandemic on the pet industry

  • Disruptions in the meat and poultry supply chain affecting the pet food market

  • Online channels appear as a bright spot

  • An introduction to pet care

  • Global Pet Care Market: Outlook and Prospects

  • Dogs and cats: main categories of the pet care market

  • Pet Food dominates the global pet care market

  • Developed regions lead developing economies to spearhead future growth

  • Rise in Pet Ownership Drives Demand for Pet Care Products

  • Facts About Pets Around the World: Snapshot

  • Millennials Lead Pet Ownership

  • Competition

  • Players Eye Acquisitions to strengthen its portfolio

  • Recent M&A Activities in the Global Pet Food Market

  • Global brands

  • Recent market activity

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Notable trends with major importance for the global pet care market

  • Transition to sustainable products

  • Tailor-made foods and products with healthy ingredients

  • Telemedicine is gaining importance

  • Advanced wearable collars

  • Earnings for private labels

  • Online ordering and social media

  • Pet Humanization Trends Are Driving Pet Owners to Increase Their Spending on Pet Care Products

  • Humanization of pets paves the way for premiumization

  • Pet dogs used as stress relievers in organizations

  • Pet Health and Wellness: A Dominating Theme in the Pet Care Market

  • Functional pet treats are gaining in importance

  • Pet food segment: driven by passion for pets

  • Premiumization Trends Find Favor Intensify in Pet Foods

  • Preferred dry foods over wet foods

  • Rise in preference for raw pet foods and animal protein

  • Growing demand for pet nutraceuticals creates new growth opportunities

  • Due to the increasing prevalence of zoonoses and foodborne illnesses, spending on pet care is increasing

  • Over-the-Counter Pet Medications: Growing Pet Health Awareness Supports Demand

  • Pet Grooming Services: Focus on Appearance and Hygiene Drives Growth

  • Pet grooming products are gaining popularity

  • Pet insurance is finding acceptance among pet owners

  • Direct-to-consumer business model supports customization in the pet care market

  • Emerging Trends in Pet Technology to Transform the Pet Care Market

  • The Advent of Innovative Technologies is Improving Veterinary Treatment Services

  • Select innovations in the pet care industry

  • Telemedicine is poised to bring significant changes to veterinary care

  • The digital revolution is transforming the landscape of pet care distribution

  • Top Retail Channels in the Pet Food Industry

  • E-Commerce Platforms See Dramatic Growth

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

  • Total number of companies profiled: 197

For more information on this report, visit https://www.researchandmarkets.com/r/dc73j

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