GVR Report cover Pet Care Market Size, Share & Trends Report

Pet Care Market Size, Share & Trends Analysis Report By Pet Types (Dog, Cat, Fish, Bird), By Type (Products, Services, Food), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-2-68038-133-7
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global pet care market size was valued at USD 148.10 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 is expected to increase consumer spending in the household and pet care categories. People are also adopting cats, dogs, and other pets as they are easier to humanize and indulge than larger pets. They are willing to spend a lot of money to ensure that their pets have the best possible living experience. As a result, pet care products such as feeders, bowls, and waterers have also become prominent.

U.S. pet care market size, by pet type, 2020 - 2030 (USD Billion)

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. As a result, pet shelters recorded an increase in adoptions and fostering.The pet sector has been exploding in recent years. According to the American Pet Products Association, about 85 million households 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.

However, the majority of the expansion of the market 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 accounted for over 60% of pet ownership, whilst households headed by baby boomers accounted 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 US.

Pet Type Insights

The dogs segment accounted for about 40% of the market share in 2021. Dogs are the most popular pets, 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 market growth due to these factors.

However, the cat pet type segment is projected to register a faster CAGR of 5.2% from 2022 to 2030.Cats are the preferred type of pet in nations with a high population density and cities with small residences, such as Indonesia and Malaysia, where cat ownership (47% and 34%, respectively) outnumbers dog ownership (10% and 20% respectively).

Type Insights

With a growing focus on climate change, more sustainably created and eco-friendly pet products will be released in the market throughout the projection period. The pet owners are becoming more aware of their companion animals' carbon "pawprint". Furthermore, about half of millennials and Generation Z prefer sustainable brands.

The rising appeal of pet fashion among pet owners has a favorable impact on the industry and is likely to contribute to significant growth of the market during the forecast period. Some pet owners are quite picky about how their pets represent their lifestyles by purchasing comfy and luxury items for them. This pushes market competitors to introduce a slew of innovative and personalized pet grooming service goods.

Global pet care market share, by type, 2021 (%)

The pet care services segment is expected to register the fastest CAGR from 2022 to 2030. Due to the corporatization of veterinary clinics, and the establishment of veterinary clinic chains that increase access to quality veterinary services, the veterinary clinics' segment maintained one of the greatest market shares in the pet care services category in 2021.

In addition, veterinary clinic investments are increasing, which helps physicians to give sophisticated therapies to pet owners. Furthermore, certain private firms in the pet care business, such as Mars, Inc., are increasing their investments in veterinarian facilities to improve access to pet owners.

Regional Insights

Asia Pacific is estimated to witness the fastest CAGR of 5.3% during the forecast period. The regional market is expected to witness decent growth owing to the rapid economic expansion and rising disposable income, which are expected to boost consumer spending on pet care products. Furthermore, rising veterinarian health awareness, expanding government animal healthcare organizations, and rising pet ownership, are all aspects that contribute to the growth of the regional market.

North America accounted for the largest revenue share of 40%in 2021. In terms of users and accessible products, the pet care market in North America is well developed. Premiumization is a crucial factor driving pet care product sales in North America. Due to obesity hazards in pets such as dogs and cats, there is a growing desire for natural pet food, which is gaining popularity among U.S. based customers.

Key Companies & Market Share Insights

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.

  • Mars, Incorporated

  • Nestle Purina PetCare

  • Petmate Holdings Co

  • Saturn Petcare GmbH

  • Tail Blazers

  • The Hartz Mountain Corporation

Pet Care Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 156.39 billion

Revenue forecast in 2030

USD 232.14 billion

Growth Rate

CAGR of 5.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 – 2020

Forecast period

2022 – 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Pet type, type, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; France; China; Japan; India; 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

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Segments Covered in the Report 

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-segments 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)

    • Dog

    • Cat

    • Fish

    • Bird

    • Others

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Products

      • Pet Litter

      • Pet Grooming Products

      • Fashion, Toys and Accessories

    • Services

      • Pet Boarding

      • Over-the-Counter/Supplies

      • Pet Training

      • Veterinary Care/ Medical Care

      • Pet Grooming Service

    • Food

      • Dry Food

      • Wet/ Canned

      • Treats/Snacks

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

    • Europe

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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