A Recent Study Says Pet Care Market Will Make a Huge Impact in near Future | Top Players PetSmart, Inc., Nestle, Mars, Inc., Champion PetFoods, Colgate-Palmolive

Pet Care Market size is set to exceed USD 269.9 billion by 2025; according to a new research study published by Global Market Insights, Inc.Mobile pet grooming, a companion animal service sector, is growing rapidly. The hectic schedule of pet owners coupled with elderly people has resulted in growing demand for mobile pet grooming. Pet grooming is considered an important aspect for overall health and development of domestic animals. Pet animals face anxiety and stress issues in fixed pet care facilities. Hence, mobile pet grooming services is appropriate for pets that are less comfortable in large groups and require personalized attention, resulting in augmenting the pet care market growth.
Increasing veterinary costs has escalated demand for pet insurance. In developing countries, people opting for pet life insurance are usually the one’s owning an expensive pet at home. While in rural areas, many farmers opt for insurance policy for their farm animals. Different policies offer different coverage as per animal. Life span of pets have increased considerably due to veterinary hospitals treating large number of injured and sick pets. Thus, increasing expenditure on pet care will stimulate demand for pet insurance, thereby fueling pet care industry growth.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. PetSmart, Inc.
2. Petco Animal Supplies, Inc.
3. Nestlé
4. Ancol Pet Products Limited
5. Mars, Inc.
6. Blue Buffalo Pet Products, Inc.
7. Champion PetFoods
8. Colgate-Palmolive
9. Heristo AG
10. Petmate Holdings Co.
Pet care products market was valued at USD 55,763.9 million in the year 2018. Pet care products constitute grooming products and supplies. Basic pet grooming products include conditioners and shampoos for bathing, scissors and clippers for nail trimming and brushes and combs for hair cleaning. Pet supplies include collars, beds, kennels, toys, etc. Pet care products market is an established market with consistent financial growth over the past decade. Hence, increasing number of e-commerce websites and brick and mortar stores coupled with rising per capita income will propel pet care products segment growth across the forecast timeframe.

Cats pet care market is projected to grow at 5.8% over the estimation period. The population of cats has increased due to growing willingness of owners to care more for their animals’ health. Innovative medications for cats coupled with cat specific food products are dominating the cat care segment. Growing adoption of cats as companion animals will boost segmental growth. For instance, cat population in U.S. was estimated to be more than 90 million in 2017. Growing emphasis on cat grooming and health will further boost segmental growth.

Distribution via e-commerce segment of pet care market held significant industry share and was valued at USD 30,058.3 million in the year 2018. Online sales of pet care product has enabled the manufacturers to expand their customer base and market share. As consumers get more convenient services and multiple choices, the preference for e-commerce will tend to grow in the future. Rise in number of online websites to meet the growing needs of pet owners coupled with growing adoption of e-commerce by major market players will spur segmental growth in the future.

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U.S. pet care market is forecasted to grow at 3.5% over the projection period. Increasing rate of humanization of pets has resulted in retailers developing strategies for consumers seeking to treat their pets and providing the necessary pet care products. Rise in demand for higher-quality food has boosted sales dramatically over the last few years, fueling the pet care market growth in the country.

Some of the key industry players operating in global pet care market are Nestle S.A., Mars, Colgate-Palmolive Company, PetSmart Inc. and Petco Animal Supplies. The industry participants focus on mergers and acquisitions, geographical expansion and new product developments to increase their foothold in the market and gain competitive advantage.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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