Pet Cosmetics Market Analysis, Size, Forecast, Growth, and Outlook 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Pet Cosmetics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The pet cosmetics market size has grown strongly in recent years. It will grow from $1.86 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rising pet ownership rates, increased humanization of pets, growing awareness of pet hygiene and grooming, higher disposable incomes are leading to increased spending on pets due to the influence of social media and pet influencers.

The pet cosmetics market size is expected to see strong growth in the next few years. It will grow to $2.6 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to continued growth in pet ownership and pet humanization trends, advances in pet grooming and hygiene products, increasing demand for natural and organic pet cosmetics, the expansion of e-commerce platforms for pet products, and rising awareness of pet health and wellness. Major trends in the forecast period include premium and specialized pet cosmetics, increased focus on sustainable and eco-friendly products, customization and personalization of pet grooming products, the adoption of mobile grooming services, and the integration of technology in pet grooming, such as smart grooming tools and apps.

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Market Drivers and Trends:

The increasing adoption of companion animals is expected to propel the growth of the pet cosmetics market going forward. Companion animals refer to domesticated animals, such as dogs, cats, birds, and other pets, kept primarily for companionship and emotional support rather than utility or work purposes. Emotional, psychological, and sociological variables contribute to the increasing demand for companion animals. With individuals increasingly appreciating the multiple benefits of pet ownership, from improved mental health to enhanced lifestyle, the trend of adopting and caring for companion animals continues to increase. Pet cosmetics maintain and enhance companion animals' hygiene, appearance, and overall well-being, promoting their health and comfort. For instance, in April 2024, according to the American Pet Products Association, a US-based non-profit association, in 2023, 86.9 million US households owned a pet, which accounts for 66% as compared to 62% in 2022. Therefore, the increasing adoption of companion animals is driving the growth of the pet cosmetics market.

Major companies operating in the pet cosmetics market are focusing on natural and sustainably sourced ingredients in products, such as organic shampoo, to appeal to environmentally conscious consumers and enhance the brand's reputation for ethical and responsible product offerings. Organic shampoo is a natural cleaning solution for dogs that uses plant-based substances to soothe and nourish skin while thoroughly washing the coat without harsh chemicals. For instance, in July 2023, OM Botanical, a US-based company, introduced a plant-based conditioning dog shampoo designed to be gentle yet effective, cleansing pets while smoothing and detangling their coats. This product utilizes natural ingredients like aloe and plantain leaf extract to moisturize and soothe irritated or sensitive skin while also deodorizing to remove odors from outdoor adventures. The emphasis on natural, sustainable ingredients aligns with consumer preferences for ethical and responsible pet care products, enhancing OM Botanical's brand reputation and appeal among environmentally conscious pet owners.

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Major Key Players of the Market:

Nestlé Purina PetCare, Mars, Elanco Animal Health Incorporated , Hill's Pet Nutrition Inc., Spectrum Brands Holdings Inc., Wahl Clipper Corporation, Burt's Bees, The Hartz Mountain Corporation, Beaphar BV, TropiClean Pet Products Inc., Cardinal Pet Care, SynergyLabs, Earthbath, Davis Manufacturing, DermaPet, Lambert Kay, Vet's Best, Petkin, John Paul Pet, Bio-Groom, Warren London, OM Botanical, Nature's Specialties, Ancol Pet Products Limited

Pet Cosmetics Market 2024 Key Insights:

• The pet cosmetics market size is expected to see strong growth in the next few years. It will grow to $2.6 billion in 2028 at a compound annual growth rate (CAGR) of 7%.
• Rising Animal Adoption Fuels Growth For Pet Cosmetics Market
• Rise Of Natural And Organic Pet Shampoos In The Market
• North America was the largest region in the pet cosmetics market in 2023

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This release was published on openPR.