Press release
Pet Market is Anticipated to Touch a Value of Nearly US$ 34,140.7 Million in The Year 2032
Pet Market
Surge in pet adoption and ownership due to rapid urbanization, increasing disposable income, and health reasons is pushing the sales of pets in the global market. Pets are currently owned by 70% to 8% percent of homes.
Similarly, growing trend of humanization along with easy availability of pets through online sales channels and expansion of pet grooming and pet care markets is expected to boost market growth during the forecast period.
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A growing number of people treat their pets like family members, choosing food and treats depending on their pets' dietary limitations or their own values and diet regimens, such as veganism.
Key Takeaways from the Pet Market (Purchasing of Pets) Study:
By pets' type, dogs and cats' segments currently form the largest share of the global pet market and the trend is likely to continue during the forecast period.
Based on gender, male segment is likely to be most remunerative in the global pet market over the assessment period.
Argentina holds a significant share of the global pet market (purchasing of pets).
Demand for pets in Australia is anticipated to rise at a robust pace during the next decade.
With rising consumer inclination towards adopting pets, the U.S, will continue to dominate North American pet market (purchasing of pets) during the forecast period.
"Rapid urbanization and rise of pet humanization have boosted triggered pet adoption and ownership, thereby creating chances to improve profitability in the market"- says the FMI Analyst
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Who is Winning?
Leading suppliers in pet market (purchasing of pets) are focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the pet market (purchasing of pets).
Major players present in the pet market:
PetSmart
Petco
Petland
Petmate
Petfinder
Adoptapet.com
The Shelter Pet Project
Best Friends Animal Society
Petco Foundation
Petango
Others
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Future Market Insights, in its new offering, provides an unbiased analysis of the global pet market (Purchasing of pets), presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the Pet Market (purchasing of pets) based on Pet Type (Dogs, Cats, Birds, Fishes), Price Range (Economy and Premium), Sales Channel (Online, Offline), & Region for 2022-2032
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Market By Category
By Pets Type:
Dogs
Cats
Others
By Price Range:
Premium
Economy
By Gender:
Male
Female
By Sales Channels:
Online Retailers
Offline
Other Sales Channel
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
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Future Market Insights Inc.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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