The global pet care market size was valued at USD 150.67 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030. The rising trend of pet humanization and increased consumer spending in the household and pet care categories are the major growth drivers. People are also adopting little pets (cats, dogs, etc.) Since they are easier to humanize and indulge than larger pets. As a result, people are willing to spend more to ensure their pets get the best care. Hence, pet care products such as feeders, bowls, and waterers have become more popular.
The pet sector has been exploding in recent years. According to the American Pet Products Association, about 85 million homes own a pet, with pet ownership increasing from 56 % to 68 % in the last 30 years. Technology and the introduction of internet purchases have contributed to some of the changes in pet ownership.
Many people were forced to stay at home for an extended amount of time as a result of COVID-19's impacts, whether owing to shelter-in-place orders or work-from-home advice. Soon after this increased time spent at home, and pet shelters recorded an increase in adoptions and fostering.
However, the majority of the expansion is due to cultural shifts. As millennial and Generation Z consumers have grown into adulthood, they have embraced their pet-owning and pet-loving lives significantly more than their predecessors. In 2020, households headed by the younger generation account for roughly 60% of pet ownership, whilst households headed by baby boomers account for about 30% of pet ownership.
Furthermore, pet owners are demonstrating a strong desire to learn more about pet health issues. They are promoting companion animal preventive care. As a result, responsible pet ownership has been increasingly popular in recent years. This is also a crucial trend that is driving pet care product sales and, as a result, the pet care industry.
Moreover, people are making lifestyle upgrades to mark their share in reducing the ecological footprint in daily lives which includes pet products too. A significant share of pet accessories is made with more sustainable and recyclable materials instead of plastics. For instance, in February 2022, Neo Bites became the first Carbon-negative dog food company in the U.S.
The dog segment accounted for over 39% of the revenue share in 2021. The most popular pets are dogs, followed by cats. Dogs are known to relieve anxiety, stress, and depression, as well as loneliness, promote cardiovascular health, and encourage exercise, all of which contribute to their popularity. Pet furniture is often preferred by people who live in flats and apartments and do not have a lawn or porch where their pets can live. This category is projected to boost the pet care market due to these factors.
Moreover, the cat pet type segment is projected to register a CAGR of 5.3% from 2022 to 2030. The increasing number of cat owners across the globe is expected to positively impact market growth. Furthermore, the rising number of single-person households coupled with the increasing willingness to own at least one pet has been majorly contributing to the market growth in developed countries over the past few years.
The product type segment accounted for over 54% of the revenue share in 2021. With a growing focus on climate change, more sustainably created and eco-friendly pet products are launched in the market which is likely to drive the growth of the pet care market during the forecast period. Moreover, growing consumer awareness about pet-related products is favoring the growth of the industry.
The pet food type segment is projected to register a CAGR of 5.3% from 2022 to 2030. Pet food consists of meat, meat byproducts, grains, cereals, vitamins, and minerals. Growing concerns among pet owners about the health and well-being of their companion animals are primarily driving the demand for quality pet food. Additionally, home delivery services provided by online stores and clean labeling are some of the factors expected to boost the growth of the segment.
North America accounted for the largest revenue share of around 43% in 2021. The rising number of pet owners in the region, combined with high disposable incomes, is creating a demand for pet care products and services. According to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 70% of U.S. households owned a pet in 2020; this was up from 67% in 2019.
Asia Pacific is expected to expand at the fastest CAGR of 5.6% during the forecast period. The Asia Pacific pet care industry is likely to witness rapid growth, owing to rapid economic expansion and rising disposable income, which are expected to boost consumer spending on pet care products. Furthermore, rising pet ownerships and rising spending on pet care products are aspects that contribute to the regional market growth.
The market is characterized by the presence of a few established players and new entrants. Companies have been expanding their product portfolios by incorporating new and innovative pet care products to widen their consumer base.
In December 2021, the Medium Slicker Head Brush, Double-Sided Bath Pin Brush, and Double-Sided Flex Slicker Brush are among the new premium dog grooming accessories offered by Wahl Animal
In October 2020, Armitage Pet Care Ltd., a company that specializes in premium pet treats and toys, has been acquired by Spectrum Brands Holdings, Inc. By adding pet items to the company's client base, capabilities, and reach, this acquisition expanded the company's customer base, capabilities, and reach
Some prominent players in the global pet care market include:
Ancol Pet Products Limited
Blue Buffalo Co., Ltd.
Champion Petfoods LP
Hill`s Pet Nutrition, Inc.
Nestle Purina PetCare
Petmate Holdings Co
Saturn Petcare GmbH
The Hartz Mountain Corporation
Market size value in 2022
USD 159.10 billion
Revenue forecast in 2030
USD 236.16 billion
CAGR of 5.1% from 2022 to 2030
Base year for estimation
2017 - 2020
2022 - 2030
Revenue in USD million and CAGR from 2022 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Pet type, type, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; U.K.; Germany; China; India; Japan; Brazil
Key companies profiled
Ancol Pet Products Limited; Blue Buffalo Co., Ltd.; Champion Petfoods LP; Hill`s Pet Nutrition, Inc.; Mars, Incorporated; Nestle Purina PetCare; Petmate Holdings Co; Saturn Petcare GmbH; Tail Blazers; The Hartz Mountain Corporation
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segment from 2017 to 2030. For this study, Grand View Research has segmented the global pet care market report based on pet type, type, and region:
Pet Type Outlook (Revenue, USD Million, 2017 - 2030)
Type Outlook (Revenue, USD Million, 2017 - 2030)
Pet Grooming Products
Fashion, Toys, and Accessories
Regional Outlook (Revenue, USD Million, 2017 - 2030)
Central & South America
Middle East & Africa
b. The global pet care market size was estimated at USD 150.67 billion in 2021 and is expected to reach USD 159.10 billion in 2022.
b. The global pet care market is expected to grow at a compound annual growth rate of 5.1% from 2022 to 2030 to reach USD 236.16 billion by 2030.
b. North America region dominated the global pet care market with a share of 43.2% in 2021. This is attributable to the growing number of pet owners and increasing awareness about good veterinary health.
b. Some key players operating in the global pet care market include Ancol Pet Products Limited, Blue Buffalo Co., Ltd., Champion Petfoods LP, Hill`s Pet Nutrition, Inc., and Mars, Incorporated.
b. Key factors that are driving the pet care market growth include high demand for pet products, grooming & boarding services and the global rise in the adoption of pets.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."