Press release
Digital Pet Care Products and Services Market Size Projected To Reach $162.94 Billion By 2034 With A Cagr Of 11.4%
Digital Pet Care Products and Services
What Is the Projected Growth of the Digital Pet Care Products and Services Market?
The market size for digital pet care products and services has been expanding at a significant rate in the past few years. In 2024, the value of this market was $96.52 billion and it is projected to increase to $105.67 billion in 2025 with a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this growth in the historic period include pet humanization, greater understanding of pet health, enhanced convenience and accessibility, pet insurance and wellness schemes, as well as elevated rates of pet ownership.
The market size for digital pet care products and services is projected to experience swift expansion in the coming years, reaching $162.94 billion by 2029, with a compound annual growth rate (CAGR) of 11.4%. This expected expansion in the forecast period can be linked to numerous factors such as the rise of telehealth and remote veterinary services, the emphasis on mental health and well-being, subscription-centric services, bespoke nutritional solutions, the focus on the elderly pet demographic, and a spotlight on pet fitness and exercise. Among the major anticipated trends for the forecast period are the prominence of intelligent pet products, the use of mobile apps for pet care, the application of IoT in pet tracking and observation, personalized pet health logs, and the influence of social media on pet trends.
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What Are the Different Digital Pet Care Products and Services Market Segments?
The digital pet care products and services market covered in this report is segmented -
1) By Type: Pet Food, Pet Care Products, Services
2) By Source: Animal-Based, Plant-Based, Synthetic
3) By Animal: Dogs, Cats, Birds, Fishes, Horses
Subsegments:
1) By Pet Food: Dry Food, Wet Food, Treats And Snacks, Specialized Diets
2) By Pet Care Products: Grooming Products, Health And Wellness Products, Accessories, Training Products
3) By Services: Pet Sitting And Dog Walking, Veterinary Services, Grooming Services, Training And Behavior Services, Boarding Services
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What Are the Primary Drivers Shaping the Digital Pet Care Products and Services Market?
The surge in pet adoption is anticipated to boost the expansion of the digital pet care products and services market. Pet adoption, which entails obtaining a pet from a shelter or rescue, is adding to the need for premium pet care goods and services to maintain pet health, pleasure, and security. For example, the Human Society of the US, a non-profit organization located in America, conducted a survey for the American Pet Products Association (APPA) in 2021-2022 which showed that there are 128.451 million households in the US that own a pet, with 69 million (54%) having at least one dog. Hence, the rising trend of pet adoption is fueling the growth of the digital pet care products and services market.
Which Companies Are Leading in the Digital Pet Care Products and Services Market?
Major companies operating in the digital pet care products and services market are Pet Plan Limited, Hartville Group Inc., PetFirst Healthcare LLC, Anicom Holdings Inc., Direct Line Insurance Group PLC, Trupanion Inc., Pethealth Inc., BabelBark Inc., Banfield Pet Hospital, Chewy Inc., Hill's Pet Nutrition Inc., PetSmart Inc., Supertails Inc., Wagmo Pet Insurance Agency Inc., Embrace Pet Insurance Agency LLC, Lemonade Insurance Company, American Society for the Prevention of Cruelty to Animals, Petco Animal Supplies Inc., Embark Veterinary Inc., Wisdom Health Genetics LLC, Whistle Labs Inc., AllTrails Inc., PetPlate Inc., BarkBox Inc., NomNomNow Inc., JustFoodForDogs LLC, The Farmer's Dog Inc., Petcube Inc., Pet Poison Helpline LLC, PetHonesty Inc., FitBark Inc., Pet Assure Corp., Petnostics LLC, Pretty Litter LLC, Sure Petcare Limited, Pawscout Inc.
What Are the Major Trends Shaping the Digital Pet Care Products and Services Market?
Key players in the digital pet care products and services sector, such as Wiggly, are turning to AI-based solutions to enhance their customer services. In July 2024, Wiggly, a pet care company headquartered in the US, rolled out an AI-powered pet care application. Central to its solution is a trailblazing AI dialogue function, permitting app users access to an AI personal assistant created explicitly for pet lovers. This virtual pet care assistant can be trusted to provide specialized, custom advice on varying subjects such as pet health, appetite, conduct, and many more. The chat function allows users to get immediate responses from experts to any pet-focused inquiries.
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What Are the Top Revenue-Generating Geographies in the Digital Pet Care Products and Services Market?
North America was the largest region in the digital pet care products and services market in 2024. The regions covered in the digital pet care products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Pet Care Products and Services Market?
2. What is the CAGR expected in the Digital Pet Care Products and Services Market?
3. What Are the Key Innovations Transforming the Digital Pet Care Products and Services Industry?
4. Which Region Is Leading the Digital Pet Care Products and Services Market?
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