Pet Care Market Size, Share & Trends Report

Pet Care Market Size, Share & Trends Analysis Report By Pet Type (Dog, Cat, Fish, Bird), By Products, Competitive Landscape, And Segment Forecasts, 2018 - 2025

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-133-7
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 55

Industry Insights

The global pet care market size was estimated at USD 131.70 billion in 2016 and is expected to grow at a CAGR of 4.9% over the forecast period. High demand for pet products, grooming & boarding services and global rise in the adoption of pets are some of the major factors estimated to drive the market.

U.S. Pet Care market

Driving growth at the premium end of the market, consumers are spending more on their pets. An increasing number of Americans consider them to be part of the family. Millennials are choosing dogs and cats over children until they're more settled. Small pets are much more likely to be indulged and humanized than large dogs. Americans spent more than USD 66 billion on pet products and services in 2016, an increase of about 10% from the previous year, according to the American Pet Products Association.

Pet care service providers that offer avian services are safeguarding birds from sickness, injury, and stress and boosting their businesses. Bird groomers keep feathers dry and clean, trim beaks and nails, and help with uncomfortable molting. Groomers that partner with retail stores can also suggest bird baths, sprays, and trimmers for new bird owners and offer a Frequent Flyer program for grooming services.

Owners want their dogs and cats to have fun and engage with other animals during the day, whether it is while they work or just to give pets more time with their own kind. Many facilities also offer upgraded care such as training or grooming. The owners seek more expensive medical treatments, higher quality food and more-high end accessories. To serve this need, PetSmart launched a variety of Pet Expressions creative grooming services to provide dogs, cats, fish and birds with above-and-beyond looks like chalking, stenciling, and feathering.

Type Insights

On the basis of type, the market has been segmented into dog, cat, fish and bird. Dogs held the largest share of 39.79% in 2016. Dogs are most popular and preferred pet worldwide as they become familiar with emotions and behavior of human very easily. Also, they protect their owner, are loyal and intelligent and help improve ones physical and mental health.

Rise in the adoption of pets worldwide is one of the factor influencing market growth. According to the American Society for the Prevention of Cruelty to Animals, approximately 3.3 million dogs enter animal shelters every year. Furthermore, dogs help in reducing depression, encourage exercise, enhance cardiovascular health and stress. Increase in the adoption rate of pets is expected to boost the demand for pet food, grooming products, toys and other accessories.

Cats held a significant market share in the type segment in 2016 and is expected to grow at a CAGR of around 4.7% from 2016 to 2025. Cats require less training as compared to dogs, handle relatively long periods of alone time, cost relatively less than dogs in veterinary and day-to-day care, self-reliant and affectionate. All the above aforementioned factors are responsible for the segment share.

Product Insights

On the basis of product, the market is segmented into pet food, veterinary care, supplies & OTC medications, live animal purchase and grooming and boarding services. Pet food held the largest market share in 2016 and is expected to grow at a CAGR of 4.6%. Rise in the disposable income especially in the developing countries results into the purchase of more of these products. Growing demand for home delivery of food provided by online stores and clean labeling is expected to boost the market growth.

Grooming and boarding facilities is growing at a significant growth rate of 5.9% over the forecast period. Rise in the adoption of pet and growing preference of pet owners regarding pet care are some of the factors anticipated to propel the segment growth.

Veterinary care services segment is growing a significant rate of 5.2% over the forecast period. Advances in veterinary services and care, increase in the research initiatives on benefits of pet to human health is expected to accelerate the market growth. According to Human Animal Bond Research Institute, pet owners who become aware about the health benefits of the pet are more likely to take care of them.

Regional Insights

U.S. spearheaded the market in 2016, by contributing over 62.75 million to the overall revenue. Key factors responsible for the dominance are the factors such as a growing number of pet owners and increasing awareness about good veterinary health. In addition, the increasing government animal healthcare organizations and the rising awareness for veterinary health are swiftly boosting the investment by the manufacturers in the market. Moreover, according to the American Pet Products Association, in 2015-2016, approximately 44% of U.S. household’s own dogs while 37% own cats.

Global Pet Care market

However, India is expected to be the fastest growing country with growth rate of 12.2% over the forecast period due to rising disposable income. The India International Pet Fair estimates that the pet population has grown from 7 million in 2006 to 10 million in 2014 and 6,00,000 pets are adopted every year. India is projected to have the fastest growing pet market due to rising adoption rates of pets. This in turn drives the demand for food, accessories and health.

Pet Care Market Share Insights

Some of the key players dominating the market are PetSmart Inc., PetCo Animal Supplies, Inc., Nestle, Just for Pets and Ancol. The market marked by an extensive presence of strategic collaborations and initiatives in order to maintain a stable position in the market.

The companies are focusing on regional expansion with an aim to maintain their position in the market. For instance, In November 2017, Nestle inaugurated expansion of Purina plant in Hungary with an aim to advance the growth of food & beverage categories of petcare.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2016 - 2025

Market representation                              

Revenue in USD Million and CAGR from 2016 to 2025

Regional scope

U.S., Germany, UK, India, Japan, Brazil.

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2025. For the purpose of this study, Grand View Research has segmented the global Pet Care market report on the basis of type, product, and region:

  • Type Outlook (Market Revenue in USD Million, 2014 - 2025)

    • Dog

    • Cat

    • Fish

    • Bird

  • Product Outlook (Market Revenue in USD Million, 2014 - 2025)

    • Pet food

    • Veterinary Care

    • OTC/Supplies

    • Live animal purchase

    • Pet grooming/boarding

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • U.S.

    • Canada

    • Germany

    • UK

    • Japan

    • India

    • Brazil

Key questions answered by the report
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