Pet Grooming Products Market to Reach $5,488 Million by 2025 | Key Players like Pet Brands Ltd. (UK), Just For Pets Ltd. (UK), Bob Martin (UK), Petco Animal Supplies, Inc. (U.S.), and Groomers Delight (New Zealand)
Rise in trend of nuclear families, rapid humanization of pets, and increased awareness about pet health drive the growth of the global pet grooming products industry. In addition, increase in ownership of pets in developing nations and rise in e-commerce sales offer opportunities for the market players. However, increase in concerns about allergies associated with pets is anticipated to hamper the market growth.
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According to the Asthma and Allergy Foundation of America, in the U.S., nearly 30% of the people with allergies suffer from allergic reactions to cats and dogs. Exposure of cat and dog allergens can lead to various reactions such as stuffy nose, swelling & itching of skin membranes, and inflamed eyes. Increase in prevalence of pet allergies among people constraints the adoption rate of pets, thus hampering the pet grooming products market growth.
The pet grooming products such as shampoos & conditioners are expected to gain huge market share, as these not only help in keeping pets clean but also help prevent skin diseases and hair fall.
The online platform of distribution channel is expected to witness an exponential growth due to rise in penetration of internet & smartphones and development of the e-commerce industry. According to the World Bank, as of 2016, approximately 77.7% of the population in North America are internet users, followed by Europe and Central Asia, accounting for around 72.9% of the population as internet users. In addition, access to internet and online pet product supplies has provided pet owners a platform where they can easily compare assorted products and prices, and shop with comfort. Some of the popular online retailers in pet grooming products market are Chewy.com, Amazon.com, Walmart.com, and Petco.com.
• Pet Brands Ltd. (UK)
• Just For Pets Ltd. (UK)
• Bob Martin (UK)
• Petco Animal Supplies Inc. (U.S.)
• Groomers Delight (New Zealand)
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The supermarket/hypermarket segment generated the highest revenue in 2017, as they offer one-stop shopping experience along with a broad product range. Conversely, online sale has witnessed the highest growth rate, as it offers a wide variety of products to pet owners, and is one of the convenient shopping methods.
North America pet grooming products market share is expected to account for the highest market share, owing to surge in adoption of specialized, advanced, and premium pet grooming products in the U.S. Moreover, increase in disposable income and rise in popularity of pet grooming products in emerging economies, such as China and India, are anticipated to boost the demand for pet grooming products in Asia-Pacific. In Brazil, the increased frequency of adopting pets can be seen due to the growth of middle-class population. This leads to increase in demand of pet care products and accessories, which in turn drives the growth of the market in this region.
According to the U.S. Census Bureau, by 2016, around 69% of children under age of 18 were living in families with two parents and around 23% of children under age of 18 were living with single mother. Busy lifestyle, increase in single parenthood, and domestic violence are some of the factors that result in increased trend of nuclear families. Therefore, companionship is one of the driving factors behind pet ownership. As per the Pet Food Manufacturing Association (PFMA), in 2015, more than 58 million were adopted in every household, out of which 25% of dogs and 16% of cats were adopted as pets across the globe.
Key findings of the Pet Grooming Products Market:
• In terms of value, the pet shampoo & conditioner segment is expected to grow at a CAGR of 5.0% during the forecast period.
• North America is expected to dominate the market, registering a significant CAGR of 3.9% in terms of value.
• Asia-Pacific is projected to show exponential growth throughout the forecast years, growing at a CAGR 6.2%, in terms of value.
• The supermarket/hypermarket distribution channel is anticipated to dominate global pet grooming products market, registering a CAGR of 4.9%.
• China accounted for more than half of the total Asia-Pacific pet grooming products market in 2017.
• In the global pet grooming products market, India is expected to grow at a CAGR of 7.6%, in terms of value.
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