Pet Care Market Size, Analysis, Share, Research, Business Growth and Forecast to 2028

 

According to Fortune Business Insights, the global pet care market size is expected to reach USD 325.74 billion by 2028, exhibiting a CAGR of 5.6% during the forecast period. The growing shift towards plant-based and nutritious food among animal owners will foster healthy growth of the pet care market, states Fortune Business Insights, in a report, titled “Pet Care Market, 2021-2028.” The market size stood at USD 207.90 billion in 2020.

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Fortune Business Insights™ lists out all the pet care market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • The J.M. Smucker Company (Ohio, U.S.)
  • Unicharm Corporation (Tokyo, Japan)
  • Hill’s Pet Nutrition, Inc. (Kansas, U.S.)
  • SCHELL & KAMPETER, INC (Missouri, U.S.)
  • Tiernahrung Deuerer GmbH (Bretten, Germany)
  • Heristo AG (Bad Rothenfelde, Germany
  • Mars Incorporated (Virginia, U.S.)
  • Nestle S.A. (Vevey, Switzerland)
  • Spectrum Brands Inc. (Wisconsin, U.S.)
  • Diana Group (Bang Krachao, Thailand)

Prevalence of Coronavirus in Animals to Uplift Market during Pandemic

The increasing concerns regarding the spread of coronavirus in dogs have accelerated demand for dog healthcare products among dog owners. For instance, from 1st December 2019 to 1st February 2020, Fox News reported a tenfold increase in the sales of the total number of dog face masks in China. Moreover, the surging pet ownership will consequently favor the growth of the market amid the coronavirus. According to a survey ‘2019-2020 APPA National Pet Ownership’ conducted by American Pet Products Organization, as of 2020, 67% of U.S. households owned a pet over 56% in 1988.

Regional Analysis:

High Spending on Animal Care to Boost Market in North America

North America's market is expected to expand radically during the forecast period due to the high-spending on-animal care products and services by the Canadian and U.S. population. According to the Statistical Department's data, Government of Canada, in 2019, Canadian household expenditure on pet insurance, veterinary, and other related services reached USD 2,720 million, up from USD 2,550 million in 2018. Asia Pacific is expected to hold a significant share during the forecast period due to prominent companies such as Mars Incorporated, Nestle S.A., and others. Besides, the expansion plans of companies can have an excellent effect on the market in the region. For instance, in May 2020, Nestle S.A. invested USD 103.2 million to inaugurate two manufacturing facilities of pet supplies in China.

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Detailed Table of Content: 

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Supply Chain and Regulatory Analysis
    • Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Qualitative Analysis (in relation to COVID-19)
      • Impact of COVID-19
      • Supply Chain Challenges
      • Potential Opportunities due to COVID-19
  • Global Pet Care Market Analysis, Insights, and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Product Type (Value)
        • Pet Food Products
        • Veterinary Care
        • Others
      • By Pet Type (Value)
        • Dog
        • Cat
        • Others
      • By Distribution Channel (Value)
        • Online
        • Offline
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

TOC Continued…!

Key Development:

  • December 2020: Bark, a U.S. based dog products company, announced an agreement with Northern Star Acquisition Corp. The transaction of approximately $1.6 billion was involved in the merger.

 

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https://kaalama.org/post/421939

https://www.skreebee.com/read-blog/127718

https://blackshare.net/blogs/273045/Luxury-Furniture-Market-Analysis-By-Key-Players-Share-Revenue-Trends

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