Pet Furniture Market is Expected to Grow at a CAGR of 6.5% by 2027-Allied Market Research | FurHaven Pet Products, Go Pet Club, MidWest Homes for Pets, Nest Bedding, North American Pet Products, PetPals Group
Growth in value sales for pet furniture industry is attributable to surge in demand for innovative products Beds & Sofa’s category, which facilitate better results. Pet furniture is noticeably popular and expanding with significant pace in developed regions of the Americas and Europe, where manufacturers are coming up with new product innovations considering pets health and comfort to help pet owners adopt to a lifestyle with good convenience. Dogs and cats’ segment are key to the performance of the market as compared to another segment. Advanced cost effective and customized furniture, rising concerns towards pet care, increase in health expenditure for animals as well as huge varieties in furniture for pet creates offers numerous pet furniture market opportunities.
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Pet furniture have witnessed higher rate of penetration in North America and Europe. However, low availability has been observed for these products in some major parts of Asia-Pacific and LAMEA, which is attributable to low performing macro-economic factors such as internet penetration and aggressive marketing strategies by the manufacturers. Thus, lower penetration of such products limits the pet furniture market growth.
For the purpose of pet furniture market analysis, the market is segmented into Houses, Beds & Sofas and Trees & Condos on the basis of product type. Among the three types, Houses accounted for a larger share of around 47.5% of the overall market in 2019. Also Houses segment is expected to capture a larger market share in 2027, owing to increase in demand for wide range of varieties. This pet furniture market segment is anticipated to witness faster growth in developed economies, and would account for 46.1% of the overall market by 2027.
The pet furniture market is segmented based on pet type, product type, and distribution channel. Depending on pet type, the market is divided into cat, dog and others. And depending on product type, the market is divided into Houses, Beds and sofas, Trees and condos. On the basis of distribution channel the market is segmented in specialty stores, supermarkets/hypermarkets, e-commerce, and others. On the basis of regions, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The Dog segment is expected to account for 46.1% of the overall market revenue by 2027.
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Key Findings Of The Study
In 2019, North America was the highest revenue-generating market, due to rise in health care expenditure and well-established health care facilities in this region
Europe has emerged to be the second largest market with France and Germany accounting for the prominent pet furniture market share of the overall market by value.
Houses has emerged to be the prominent segment due to increase in demand for wide range of varieties.
Asia-Pacific is expected to witness the fastest growth from 2019 to 2027, owing to increase in adoption of eco-friendly pet furniture in developing economies such as China and India
The prominent companies profiled in this report include FurHaven Pet Products, Go Pet Club, MidWest Homes for Pets, Nest Bedding, North American Pet Products, PetPals Group, Inc, Prevue Pet Products, Taizhou Huamao Handicraft Article Co., Ltd, Ultra Modern Pet, Ware Pet Products. Currently, the pet furniture market is majorly driven by growth strategies such as product. Nest Bedding launched natural pet beds in recent years to increase their customer base and expand their market penetration.
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