Global Pet Care Market is expecting an excellent growth over the forecast period. The growth of the market is likely to be driven by the increasing disposable income in middle income groups, increasing power of e-commerce, increase in pet population, and rising trend of bringing pets to home. The escalating preference for prime healthcare and food products for pets by their owners is also fueling up the market to a great extent. In the last few years, a great advancement in technology in pet care has attracted a great deal of attention.
Leading Key Players Analysis:
Some of the key player in the market are
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Global Pet Care Market – Segments
MRFR has segmented its analysis into three key dynamics for the convenience of understanding;
By Pets: Comprises Dog Care, Cat Care, Bird Care, and Fish Care, among others.
By Products & Services: Pet Food and Pet healthcare among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
Innovation/ Related News:
November 07, 2018 – Sniffers Pet Care (UK), a pet food wholesaler and distributor announced the location expansion of its production unit to 6,250 sq. ft of industrial space at the Bridge Business Park in Huddersfield. The company has confirmed £3 MN investment for the same.
Competitive Analysis:
Sales for pet care large and small companies have increased drastically across the board over the past few years which have drawn more companies into the fray. Pet care makes up a growing share of sales for multinational firms. It’s no wonder that the industry’s biggest names have invested heavily in the space, creating a large degree of market concentration.
Manufacturers of pet foods are striving to strengthen their supply chain to suffice the growing demand. The market perceives the intensified competition which will get more intensified further during the assessment period. The fierce competition prevalent in the market presages the consolidation among the players. Pet food that is organic, grain-free, natural, and with low-glycemic content is garnering popularity and hence, traction among pet owners, which propels the demand for the pet foods, eventually encouraging manufacturers to formulate new products to meet consumer requirements.
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Regional Outlook
Geographically, the global pet care market is classified into Americas, Europe, Asia-Pacific, and the Middle East & Africa. America holds the largest share in pet care market due to due to rising trend of pet humanization and increasing expenditure on pet food and healthcare by their owners. According to the American Pet Products Association (APPA), the actual U.S. Pet Industry Expenditures for the year 2016 is $66.75 billion and the number has increased by 4.2% from the previous year.
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