Pet Care Market 2021 How the Business Will Grow in 2027? Prominent Players: Ancol Pet, Champion Petfoods, Blue Buffalo Pet Products, Heristo akteingesellschaft, Colgate-Palmolive, Petco Animal Supplies, Zoetis, Idexx Laboratories, Chewy, Zooplus

The pet care market has been prospering due to the increasing number of pet insurance policies with comprehensive coverage offered by market players. With several pet care websites and pet care apps offering pet care products ranging from pet therapeutics and pet shampoos to pet bows and pet treats under one roof, the convenience of shopping has been generating considerable demand for these products.

The following factors have been acting as enablers of the global pet care products industry forecast:

Pet food segment to display high growth rate

The industry share from the pet food segment has been exhibiting a high CAGR and held a share of 24% of the overall Asia Pacific pet care market share during 2020. Through the upcoming years, the market is expected to gain significantly from the shifting tendency of pet owners to add protein-rich pet foods to pet diets.

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The pet services segment is expected to thrive at a high pace over the next few years, driven by the expanding demand for pet-sitting, pet grooming, and pet boarding services and particularly Petco grooming and Petco adoption services, in the major cosmopolitan cities in Asia Pacific.

Surging expenditure on cat products

In terms of animals, the Asia Pacific pet care market share has been segmented into horses, birds, dogs, fishes, and cats. The market share from the cats segment accounted for over 43% of the total market revenue during 2020 and is likely to maintain the same trend through 2027.

Cats are gaining more popularity as companion animals in the region. Due to the growing per capita incomes of owners, the expenditure on cat products and services has been spiraling.

Japan to undergo significant expansion

The Japanese industry for pet care products and services has been prospering constantly in the past few years. It represented a 20% share in the total Asia Pacific pet care market in 2020 and is steadily rising to attain a higher revenue. The increasing number of individuals who live alone alongside the growing preference for nutritious pet food and pet snacks which contain organic ingredients have together been promoting market growth.

High prevalence of zoonotic diseases in North America

The incidence of zoonotic diseases amongst pet animals in the region has been rising, pushing the demand for pet therapeutics. As per the estimates of the Centers for Disease Control and Prevention (CDC), nearly 6 out of 10 infectious diseases in humans can spread to animals as well.

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The market for pet products in North America region is slated to accrue over $132.4 billion in annual revenues by 2027.

Personalized food products gain traction in American market

The high level of health consciousness of pet owners has been popularizing the trend of growing consumption of grain-free and gluten-free pet food products in the region. The consumption of personalized food products has been escalating as several market players such as Chewy have been diversifying their product ranges. The pet food segment is expected to grow at a CAGR of 2.5% through 2027 in North America.

Canada to see higher adoption rate

The pet care market in Canada is slated to rise at a 2.8% CAGR through the upcoming years. Pet owners in the region have been increasingly adopting and grooming pets. It has picked up pace especially due to the availability of popular alternatives such as Petco grooming, Petsmart adoption, since the outbreak of the COVID-19 pandemic, driven by the need to benefit from the companionship offered by these domesticated animals.

With a higher emphasis on pet hygiene in the region, pet owners have been generously spending on pet care products such as pet shampoos and pet soaps that are anti-fungal and anti-bacterial. Additionally, with popular brands such as Fable offering high demand and innovative products such as dog-training crate that also serves the purpose of a side-table, the North America pet care market outlook is certain to progress.

Increasing number of pet care foundations in U.K.

The growth in the number of pet care foundation across the U.K. has been eliciting high demand for high quality products and services in the region. The segment is expected to grow at a 4.5% CAGR through the forecast timeframe, owing to the alarming increase in prevalence of disorders such as obesity among pets. For instance, according to a recent vet survey by Burgess pet care, more than half of the total dogs in the U.K. are obese.

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Higher adoption of e-commerce platforms in Europe

A rising number of pet care product manufacturers and pet owners alike have been demonstrating a higher inclination toward e-commerce platforms for buying and selling high quality pet food, pet accessories, and pet medications in Europe. Consequently, the regional industry share form the e-commerce segment is anticipated to surge at a 9.3% CAGR through the forecast years.

Not only are pet care websites and pet care apps offering attractive discounts on purchases, they have also been ensuring access to as many diverse products as possible.

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