Petcare Market Trends Growth Analysis 2023

The global pet care market size was valued at USD 128.4 billion in 2022 and is expected to grow at a 7.3% CAGR during the forecast period 2023 to 2029. The primary drivers of the expansion of the global petcare market include the increasing pet humanization. In addition, increasing awareness and knowledge about animal welfare and well-being is expected to lead the increasing demand for pet care products.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/petcare-market

Pet Food Segment is expected to Dominate the Petcare Market:
Based on the application, the global Petcare market is segmented into Pet Food, Pet Care, and Grooming Products. The pet food products segment is expected to account for a larger revenue share in the global petcare market. The increasing concern among pet owners about meeting the daily nutritional requirements of pets and easy availability of wide range of pet foods products is expected to drive the growth of petcare market over the forecasted period. In addition, increasing awareness about pet health and well-being along with the increasing expenditure on petcare products is expected to boost the growth of petcare market over the forecast period.

North America Petcare Market:
The North America petcare market is expected to increase over the forecast period due to the increasing number of pet adoptions and growing awareness about regarding good veterinary health in this region. In addition, increasing government animal health organizations, and increasing market players investments are expected to boost the market growth. Furthermore, the growing risk of obesity in pets is expected to increase demand for natural and healthy veterinary food supplements in the US. For instance, according to Pet Obesity Prevention Association, about 55% of cats and dogs are obese in US. These factors are expected to further boost the growth of petcare market in this region over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Petcare market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In December 2022, Unilever entered pet market with the launch of Cafune, first pet care brand which includes four types of pet shampoo, two conditioners, wipes, kitty litter, training pads for dogs, etc.

The Petcare market is segmented based on pet type, applications, product type, distribution channel, and geography.
Based on the pet type, the market is segmented into the following:
• Dog
• Cat
• Fish
• Other

Based on the application, the market is segmented into the following:
• Pet Food
• Pet Care
• Grooming Products

Based on the product type, the market is segmented into the following:
• Brushes
• Shower & Bath Accessories
• Toothpaste
• Grooming Wipes
• Shampoos/Conditioners
• Cat Litter
• Pet Comb
• Tick Repellent
• Dry Food
• Wet Food
• Treats & Snacks
• Others

Based on the distribution channel, the market is segmented into the following:
• Offline Retail Stores
• Online Stores

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Request sample report at https://www.precisionbusinessinsights.com/request-sample/?product_id=173042

Key players profiles in the Petcare market report are General Mills Inc, The J.M. Smucker Company, Mars Pet Care, Colgate-Palmolive, Nestle SA - Purina, Diana Groups, Unicharm Corporation, Schell and Kampeter Inc, Heristo AG, Wiggle.

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.