Trends and lucrative insights into the $241.1 billion pet care industry, with detailed profiles of 197 competitors, including Hill’s Pet Nutrition, Mars, Nestlé Purina PetCare, and Unicharm – ResearchAndMarkets.com

DUBLIN–(COMMERCIAL WIRE)–The “Pet Care – Analysis and trajectory of the global market” Report has been added to ResearchAndMarkets.com offering.

The emergence of pets as members of the family is driving consumer spending on pet care. The rise in pet ownership has fueled global spending on pet care products such as treats, medical care, toys and other accessories. The stay-at-home restrictions due to the COVID-19 outbreak have presented the perfect opportunity to own and spend time with pets. These benefits are creating a strong demand for pets and driving pet adoption rates.

Factors like higher disposable incomes and nuclear families are driving pet adoption, driving the pet care market. Additionally, the growing popularity of online channels coupled with the option to connect with professionals like veterinarians remotely via telehealth or other online options is driving the pet care market. Pet owners are turning to premium products for their pets, including products like organic pet food and pet grooming services, among others.

Market growth is facilitated by the increasing shift from traditional foods to gourmet options, driving brands to offer innovative products. In addition, the participation of millennial customers who are willing to buy organic products and spend in high-end pet hotels is expected to present new opportunities for growth. Technology is enabling advanced pet care products including pet cameras, automatic feeders, wearable pet tracking devices, and pet tracking apps to keep track of pet maintenance.

The global pet care market will reach $241.1 billion by 2026

Amid the COVID-19 crisis, the global pet care market, estimated at USD 179.4 billion in 2020, is projected to reach a revised size of USD 241.1 billion by 2026, with growth compound annual rate of 5.2% during the analysis period. Pet Food, one of the segments analyzed in the report, is forecast to register a CAGR of 4.8% and reach USD 113.9 billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Veterinary Care segment is restated at a revised CAGR of 5.1% for the next 7-year period. The increase in the number of pets around the world and the increase in the disposable income of people over the years are driving the growth in the pet food market. Pet food demand is also helped by the trend towards online pet food shopping and the growing influence of clean label regulations. Veterinary care is becoming an increasingly important aspect of pet care. The segment covers routine veterinary care and sales of pharmaceuticals.

The US market is estimated at $79.3 billion in 2021, while China is forecast to reach $7.9 billion by 2026

The pet care market in the US is estimated at US$79.3 billion in the year 2021. China, the world’s second largest economy, is forecast to reach a projected market size of US$7 .9 billion for the year 2026, with a CAGR of 7% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasting growth of 4.2% and 5.6%, respectively, during the review period.

Within Europe, Germany is forecast to grow at approximately 4.1% CAGR. The developed economies of North America and Europe spend the most on pet care. Higher disposable incomes and nuclear families have resulted in high adoption of pets in these markets. Additionally, established pet care services in these markets are helping the market grow. The humanization trend is further contributing to the demand for a range of pet care products and services. China represents a promising regional market for pet care, due to the growing adoption of pets and companion animals in the country.

The OTC/Supply segment will reach $51.3 billion by 2026

Increasing awareness of pet health and disease is causing an increase in demand for over-the-counter pet medications. The availability of OTC medicines at competitive prices and through various distribution points is contributing to the increase in sales. Among the various medications, demand is high for fleas and ticks and pain relief and arthritis products. This is due to the fact that flea allergy, dermatitis and Lyme disease are the most common diseases in pets, which are transmitted by fleas and ticks.

In the global OTC/Supplies segment, the US, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets representing a combined market size of US$32.2 billion in the year 2020 will reach a projected size of US$46.4 billion by the end of the analysis period. China will remain among the fastest growing in this group of regional markets. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is forecast to reach $4.2 billion by 2026, while Latin America will expand at a CAGR of 6.8% over the period. analysis.

Select competitors (total 197 featured)

  • Pet Products Ancol Limited

  • Blue Buffalo Co. Ltd.

  • Champion Petfoods LP

  • Hill’s Pet Nutrition, Inc.

  • mars incorporated

  • Nestle Purina Pet Care

  • pet companion

  • Saturn Petcare GmbH

  • tail blazers

  • The Hartz Mountain Corporation

  • The J. M. Smucker Company

  • Unicharm Corporation

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. OVERVIEW OF THE MARKET

  • Influencer market insights

  • World market trajectories

  • Impact of the COVID-19 pandemic on the pet industry

  • Meat and Poultry Supply Chain Disruptions Affecting the Pet Food Market

  • Online channels emerge as a bright spot

  • An introduction to pet care

  • Global Pet Care Market: Outlook and Outlook

  • Dogs and cats: main categories of the pet care market

  • Pet Food leads the global pet care market

  • Developed regions lead and developing economies lead future growth

  • Rise in Pet Ownership Spurs Demand for Pet Grooming Products

  • Facts about pets around the world: snapshot

  • Millennial generation leads pet ownership

  • Competition

  • Player Eye Acquisitions to Strengthen Portfolio

  • Recent M&A Activities in the Global Pet Food Market

  • world brands

  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Notable trends with great importance for the global pet care market

  • Switch to sustainable products

  • Personalized food and products with healthy ingredients

  • Telemedicine gains prominence

  • Advanced Wearable Collars

  • Earnings for private labels

  • Online orders and social networks

  • Pet Humanizing Trends Drive Pet Owners to Increase Spending on Pet Grooming Products

  • Pet humanization paves the way for premiumization

  • Domestic dogs are used to combat stress in organizations

  • Pet health and wellness: a hot topic in the pet care market

  • Functional pet treats grow in importance

  • Pet food segment: driven by a passion for pets

  • Premiumization trends find favor intensifying in pet food

  • Dry foods are preferred to wet

  • Rising preference for raw pet food and animal protein

  • Growing demand for pet nutraceuticals adds new growth opportunities

  • Driven by rising prevalence of zoonotic and foodborne diseases, pet care spending rises

  • Over-the-Counter Medications for Pets: Growing Awareness of Pet Health Supports the Demand

  • Pet Grooming Services: Focus on Appearance and Hygiene Drives Growth

  • Pet care products gaining popularity

  • Pet insurance finds acceptance among pet owners

  • Direct-to-consumer business model supports customization in the pet care market

  • Emerging trends in pet tech to transform the pet care market

  • Advent of innovative technologies improves veterinary treatment services

  • Select innovations in the pet care industry

  • Telemedicine is poised to bring about significant changes in veterinary care

  • The digital revolution transforms the pet care distribution landscape

  • Major Retail Channels in the Pet Food Industry

  • E-commerce platforms record spectacular growth

4. WORLD MARKET OUTLOOK

third MARKET ANALYSIS

IV. COMPETITION

  • Total Profiled Companies: 197

For more information on this report, visit https://www.researchandmarkets.com/r/dc73j

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