Pet Care Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

Key Highlights:
• The global Pet Care Market size was valued at USD 235.2 billion in 2022 growing at a CAGR of 6.2% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Pet Care Market size accounted for USD 235.2 Billion in 2022, growing at a CAGR of 6.2% from 2023 to 2033. The pet care market is a global industry that encompasses a wide range of products and services designed to meet the needs of pets and their owners. It encompasses everything from pet food and treats to grooming products, veterinary care, pet insurance, and even pet-related technology. The market is driven by the increasing number of pet owners who view their pets as family members and are willing to spend more on their care.

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The Pet Care Market is primarily driven by E-Commerce and Online Retailing. The rise of e-commerce has facilitated easier access to a wide variety of pet care products. Online platforms provide convenience, a broader product selection, and the ability to compare prices, contributing to the growth of the pet care market.

Key Players
Some of the major Pet Care Market players holding high market shares include Colgate Palmolive Company, EBOS Group Limited, General Mills Inc., Heristo AG. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Thai Union Group Plc, The J.M. Smucker Company, Unicharm Corporation, and Versele-Laga N.V.

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Segmental Analysis
Based on Type, the Pet Care Market is segmented into Dog, Cat, Fish, Bird. The Dog segment accounted for the largest market share. These factors can be attributed to the fact that a large number of household owners globally have a dog. For instance, according to an article by Forbes ADVISOR, dogs are the most popular pets in the U.S., with more than 69 million households owning at least one dog.
Based on Product Type, the Pet Care Market is Pet Food Products and Veterinary Care. The faster growth of the veterinary care segment is attributed to the growing animal veterinary care-related commercial settings in many countries worldwide. The largest share of the pet food segment is attributed to the tremendous demand for tasty and nutritious food items for their daily feeding needs among owners. The easy accessibility of a variety of animal food items results in a more significant revenue generation from such a segment.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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