Pet Care Market Forecast 2027 | Blue Buffalo Pet Products, Inc., Champion Petfoods, Colgate-Palmolive Company, Heristo akteingesellschaft

The global pet care market is slated to witness an exponential growth spurt owing to rising adoption of pets and increasing household expenditure on pet animals across the globe. The COVID-19 pandemic and the resulting lockdowns has substantially escalated the need for companion animals across the world, which is slated to greatly impacting pet care market growth over the forthcoming years.

In terms of rising pet adoption, China is considered the biggest pet population country across the globe followed by the US and Brazil. Increasing use of pets in ad campaigns and films has created a general inclination towards pet adoption among individuals.

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Given the increasing pet adoption trend, numerous market players are expanding their business offerings to create a global footprint. Citing an instance, in March 2021, Pet Wants, Ohio-based top-quality pet food and supplies franchise, reportedly announced the addition of 22 novel franchises to its portfolio. the company also announced record sales numbers for 2020. The firm currently has over 111 territories across the US, as demand for high quality pet services continues to expand.

Pet Wants, also an active part of Strategic Franchising family, provides the pet owners top quality, fresh pet food, which is free of non-nutritious fillers and animal by-products. In addition, the company also offers franchise owners have the option of running a retail or mobile location, enabling its faster growth.

Global Market Insights, Inc., projects that the overall pet care market size will be surpassing the $350.2 billion mark by 2027.

Based on product, the pet care products segment was valued at more than $71.3 billion back in 2020, and is expected to witness around 3.8% CAGR through the analysis time period. This projected growth is ascribed to the rising awareness relating to the benefits of ingredients, sustainable pet care food, and custom-made pet food.

Additionally, pet humanization, which is leading to pet food premiumization, is greatly contributing towards segmental growth. Besides, rising interest in personalized pet food services, which are delivered directly to pet owners’ is also favoring the market growth.

In terms of animal, the dogs segment accounted for $96.5 billion valuation and is expected to showcase a promising growth rate over the study time period. Major factors such as shifting perception towards pets and rapid urbanization will spur the segment growth. Besides, increasing popularity of dog adoption among millennials will also create a relatively stable growth ground for the segment. Additionally, pet parents are also focusing more on dogs grooming, thereby strengthening the overall industry outlook.

On the regional front, in 2020, Australia pet care industry was valued at $13.3 billion and is expected to grow at an impressive CAGR of 3.9% over the forthcoming time period. The growth forecast is majorly ascribed to rising geriatric population, increasing demand for premium food, and rising number of owners choosing pet adoption.

As per a survey, nearly 5 million households in the country have around 25 million pets. Subsequently, the demand for pet food is also increasing in Australia since most of the pet owners are ready to spend more to make sure that their pets are getting supreme quality food. As a result, other industries including pet care products like pet spa, grooming treatments, custom bedding, pet toys, and pet care services are expected to play an essential part in fueling the regional pet care market.

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Major industry players have been focusing on various growth strategies in order to consolidate their business position. Citing an instance, in February 2021, IVC Evidensia, the leading pet care firm reportedly completed a €3.5 billion ($4.2 billion) private funding round. The funding round came as the global pet care industry witnessed a sizable boom during the global COVID-19 pandemic.

A sizable demand growth for pet care services has been witnessed over the past year, with pet sales rising at a time where people were isolated by lockdowns to control the pandemic. In addition, existing investor, Nestle, is also increasing its minority stake as part of the funding round and Silver Lake is making a valuable minority investment as well.

Colgate-Palmolive Company, Nestle S.A., PetSmart Inc., Petco Animal Supplies, and Mars among many others are some of the key players operating in the pet care market.

Partial Chapter of the Table of Content

Chapter 4 Pet Care Market, By Type

4.1 Key segment trends

4.2 Pet Food

4.2.1 Market size, by region, 2016 -2027 (USD Million)

4.2.2 Nutritional

4.2.2.1 Market size, by region, 2016 -2027 (USD Million)

4.2.3 Medicated

4.2.3.1 Market size, by region, 2016 -2027 (USD Million)

4.3 Pet Care Products

4.3.1 Market size, by region, 2016 -2027 (USD Million)

4.3.2 Veterinary Care Products

4.3.2.1 Market size, by region, 2016 -2027 (USD Million)

4.3.3 Supplies/OTC Medications

4.3.3.1 Market size, by region, 2016 -2027 (USD Million)

4.4 Services

4.4.1 Market size, by region, 2016 -2027 (USD Million)

4.4.2 Pet Grooming/Boarding

4.4.2.1 Market size, by region, 2016 -2027 (USD Million)

4.4.3 Live Animal Purchase

4.4.3.1 Market size, by region, 2016 -2027 (USD Million)

Chapter 5 Pet Care Market, By Animal

5.1 Key segment trends

5.2 Dogs

5.2.1 Market size, by region, 2016 -2027 (USD Million)

5.3 Cats

5.3.1 Market size, by region, 2016 -2027 (USD Million)

5.4 Birds

5.4.1 Market size, by region, 2016 -2027 (USD Million)

5.5 Fishes

5.5.1 Market size, by region, 2016 -2027 (USD Million)

5.6 Horses

5.6.1 Market size, by region, 2016 -2027 (USD Million)

5.7 Others

5.7.1 Market size, by region, 2016 -2027 (USD Million)

Chapter 6 Pet Care Market, By Distribution Channel

6.1 Key segment trends

6.2 Stores

6.2.1 Market size, by region, 2016 -2027 (USD Million)

6.3 E-commerce

6.3.1 Market size, by region, 2016 -2027 (USD Million)

6.4 Others

6.4.1 Market size, by region, 2016 -2027 (USD Million)

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights, Inc.
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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