Pet Market Synopsis

Pet Market Size Was Valued at USD  18.00 Billion in 2023, and is Projected to Reach USD  39.09 Billion by 2032, Growing at a CAGR of 9 % From 2024-2032.

A pet is an animal that is tamed and maintained for companionship and recreation more often as a source of amusement or playthings. This kind of animals brought to homes include dogs, cats, birds, hamsters rabbits among others. Such animals are normally confined in homes where they are provided with food, shelter and other things by their owners. Pets give affection, help with stress relief and with having a pet’s presence being beneficial for an individual’s health, as well as a way to be responsible and have a schedule in their lives.

• The market of enjoying pets has expanded significantly over the course of a decade due to the following factors; the increase in the population of active buyers, the change in the behavior concerning animals, especially pets, and new inventions in the sphere of petEndPoint: Due to the following reasons the market of enjoying pets developed significantly during the past decade: the first is the increase of residents who bought pets; the second – the alterations of the attitude towards pets; the An important factor that have been found to cause this growth is severing of pets as family and has grown due to changes in trend that sees pets as more than just mere animals. This development has prompted higher spending on quality pet foods as well as other expenditure such as health and grooming costs, and pet accessories. Consumers today are more willing to spend more money, frequent, specific brands, and opt for new pet food such as organic and natural food or even new diets for their pets, because they understand that the diet of the pet, is the key to the pets’ health and lifespan.
• Furthermore, increased purchasing power and the increasing trend of owning pets in the millennials as well as generation Z have also driven the market growth. These generations with an attitude that treats pets as children or even companions, are willing to spend on the pet by paying for wellness, insurance, and much improved veterinary services. Advancements in technology have also been crucial, particularly the novel technological innovations like smart pet collars, GPS tracking devices, and health monitoring gadgets. Such technologies do not only safe keep pets but also give a sense of relief and understanding to the owners in relation to their pet’s state and behaviors.
• The increase in e-sale has also brought change in the market of per related products. Computerized shopping mart is an easy to access electronic market offering almost everything, including pet food/treats, toys, shampoers, vitamins, veterinary consultations and more. The growth of the online market segment has continued and intensified in recent years, especially with the COVID 19 restrictions that led to an increase in the number of consumers opting for online purchases. It is a relatively new and innovative idea which offers a set of treats, toys and accessory to the customers through subscription services at their doorsteps on a monthly basis.
• Additionally, pet services segment has grown significantly and this can involve grooming, pet boarding, pet daycare and even training of these pets. Luxury pet hotels and pet spas are common among caring owners who are willing to pay for their pets’ comfort, and mobile grooming is convenient for ones with busy schedules. The demand for these animals has also been supplemented by the desire for many people to own therapy animals and or emotional support animals, which brings another dynamic to the market.
• In geographical type a part, North America is by a long shot the greatest with pertinence for pet items and administrations trailed by Europe. Nevertheless, Asia-Pacific has been revealing itself as a promising market primarily because of growing trends such as pet adoption, population shift to urban areas, and rising individual buying capacity. This is particularly evident in countries such as China and India that have recorded high growth in pet care demands this opens a market to both domestic and global pet related products producers.
• A concern of environmental sustainability has gradually emerged in the pet market system. The populations are going green and it is evident because there is a quest for biodegradable pet waste bags, use of natural and recycled pet food ingredients and environmentally friendly pet food packaging. Pet products with a focus on green and sustainable production and sourcing are being adopted more often across the market by consumers who have a conscience for the environment.
• Therefore, the following factors can be summed up as major driving forces for the continued healthy growth of the pet market: humanization of pets; increase in disposable income; development of technology, and e-commerce trading platforms. The changing culture of pet owning and the increasing advancement in technology and environment that define the changes in the market show great potential of the pet market segment to sustain growth and diversification in the future. Business entities that are in a position to address these trends, by providing good quality, durable and innovative service/products to the market are likely to benefit in this volatile environment.

Pet Market Trend Analysis

Rise of Premium and Organic Pet Foods

• The increasing availability of premium and organic foods in the pet sector shows the evolution of the trend to buy healthy and highly quality pet-being food as a result of steady market growth and customers’ awareness necessity. Another factor is that owners are integrating pets as members of the family and are therefore willing to spend on their pets similar to what is observed in the food consumption trends. As a result, many customers will find that there are an increasing number of choices and options when it comes to premium and organic pet foods made from natural, non-GMO ingredients that are sourced ethically, and contain no artificial colors, flavors, or preservatives. The said market has come up with various exclusive food brands, as well as various categories of pet foods such as grain free, high protein, and the relevant limited range products.
• Furthermore, the issue of food chain transparency has emerged as one of the essential components affecting consumers’ preferences as many brands disclose comprehensive information concerning sources and manufacturing processes. Another factor that can be attributed to the increasing demand for higher quality pet food is the advancement of pet wellness services as well as the inclusion of veterinary advice in the production of those products thus pushing the development of this market segment forward. In conclusion, the shift to ‘better’ and ‘organic’ pet foods is evidence of a large paradigm shift in pet management characterized by quality, health, and maybe even the environment.

Expansion of Pet Tech Products

• The growth of pet tech products market is a result of several factors such as growing pet ownership, technological innovation and heightened pet sentimentalisation. Since the growing understanding of pets as members of the family, consumers are becoming more concerned on how to improve the health and wellbeing of their pets. This trend is seen in smart collars that check on the health and whereabouts of the pets, automatic feeding machines, intelligent toys for the pets, and pet wear devices. This way AI and IoT features embedded in these products provide information in real-time to help the pet owners take the right decisions about their pets.
• Furthermore, the availability of applications in mobile devices for pet care, training, and veterinary services has also boosted its market. Together with the growth of disposable income and the owners’ demanding more innovative products for their pets, they want to spend on high-end technological products. This growing market is also being fostered by technology-based firms and companies that want to take advantage of the growing market for pet care. Therefore, it can be stated that the pet tech market may experience further growth in the future due to its ongoing development and enhanced owners’ affection towards their pets.

Pet Market Segment Analysis:

Pet Market  Segmented based on Pet Type, Price  Range , Gender and Sales Channel.

By  Pet Type, Dog segment is expected to dominate the market during the forecast period

• The segmentation by the pet type is as follows: The market for dog, cat, and other types of pets is influenced by entirely distinct trends and growth rates. This segment still carries a lot of weight because of better health care products – grooming and feeding products is due to the humanization of pets and ready to spend more on their welfare. This segment also benefits from the trend involving the rising rate of adoption and the enhanced need for dog training and other dog-related care services. However, it is slightly lagging behind the dogs sector but cat’s also has consistent steady sales and people use dedicated cat food, cat litter, and health products as well.
• The cat segment is becoming liberal in recent years because the amount of urban residents and singles increase and cats are better for them because they don’t need as much attention as dogs. The spe segment is relatively small comprises birds, fish & reptiles, and small mammals but has varied opportunities for growth. This segment relies on diverse lucrative industries that are eager to invest in quality exotic food, better living conditions, and quality exotic animal veterinary services. Summing up, the pet market could be characterized as healthy and developing due to higher demand of pet, more spending on health and welfare and most important variety and availability of the products and services provided to the pets.

By  Prise Range, Economy segment held the largest share in 2023

• The potential market segmentation in pets is based on the price factor that has two categories; premium and economy price level. Luxury and quality pet food, which may contain better quality additives, additional functions and features, or a generally better image and brand recognition appeal to well-off populations who are willing to give their pets the best. It covers diets; superiority products such as organic foods; luxuries including accessories; and technological solutions in healthcare. On the other hand, economy aims at providing economical and reasonable products in the scale of pet, which are fundamental but appreciate moderate quality without unreasonably high price. This segment targets consumers who areaware of the fact that quality might not always be tied to price and hence look for affordable solutions.
•  Both segments have grown sharply over the years due to factors such as rising popularity of pet adoption, growing pet anthrosceptance, and customers’ improved understanding of pet care services. Whereas, these are high margin products catering to luxury business, the low margin economy products serve a vast clientele base and consumers requests. These segments show that the market has a diversification of consumers and the changes occurring within the pet industry, all pointing out what different businesses could do to have niche-specific products marketed as well as services.

Pet Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America is expected to outcompete all the other regions of the globe and maintain its dominance in the pet market during the in the pet market in the course of the forecast period for several reasons. Another remarkable point that contributes to the formation of the market for CATS is the high rates of disposable income in the area and the tendency of residents to be affectionate to the pets. The base factor is a rise in the global demand for pet food products mainly attributed to enhancement in pet health and also, the growing conscious demand for quality and premium pet foods. This change and upgrade of pets as family members, providing them with a home like humans is also increasing the spending on pet factors such as grooming, boarding, etc.
•  Additionally, there is a proliferation of pet products retail outlets attached to the region have also been observed and expansion of e-commerce platforms has also make pet market accessible for many people. This includes pet tracking devices, health monitoring gadgets, and similar services that are contributing to the enhancement of pet health and owning and thereby providing a ascendance to the market. However, the increasing concern of nutrition and health of the pet, due to enhanced pet attention and the number of veterinary organisations worldwide, is also lending its support to the market progress of pet food. Thus, the North American continent and the positive regulation make the subcontinent is the most significant driver of the market share of pets in the foreign market in the forecast period.

Active Key Players in the Pet Market

• PetSmart (USA)
• Petco (USA)
• Petland (USA)
• Petmate (USA)
• Petfinder (USA)
• Adoptapet.com (USA)
• The Shelter Pet Project (USA)
• Best Friends Animal Society (USA)
• Petco Foundation (USA)
• Petango (Canada), Other Key Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Pet Market by Pets Type
 4.1 Pet Market Snapshot and Growth Engine
 4.2 Pet Market Overview
 4.3 Dogs
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Dogs: Geographic Segmentation Analysis
 4.4  Cats
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4  Cats: Geographic Segmentation Analysis
 4.5  Others
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4  Others: Geographic Segmentation Analysis

Chapter 5: Pet Market by Price Range
 5.1 Pet Market Snapshot and Growth Engine
 5.2 Pet Market Overview
 5.3 Premium
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Premium: Geographic Segmentation Analysis
 5.4  Economy
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4  Economy: Geographic Segmentation Analysis

Chapter 6: Pet Market by Gender
 6.1 Pet Market Snapshot and Growth Engine
 6.2 Pet Market Overview
 6.3 Male
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Male: Geographic Segmentation Analysis
 6.4  Female
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4  Female: Geographic Segmentation Analysis

Chapter 7: Pet Market by Sales Channel
 7.1 Pet Market Snapshot and Growth Engine
 7.2 Pet Market Overview
 7.3 Online Retailers
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Online Retailers: Geographic Segmentation Analysis
 7.4  Offline
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4  Offline: Geographic Segmentation Analysis
 7.5  Other Sales Channel
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4  Other Sales Channel: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Pet Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 PETSMART (USA)
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 PETCO (USA)
 8.4 PETLAND (USA)
 8.5 PETMATE (USA)
 8.6 PETFINDER (USA)
 8.7 ADOPTAPET COM (USA)
 8.8 THE SHELTER PET PROJECT (USA)
 8.9 BEST FRIENDS ANIMAL SOCIETY (USA)
 8.10 PETCO FOUNDATION (USA)
 8.11 PETANGO (CANADA)

Chapter 9: Global Pet Market By Region
 9.1 Overview
 9.2. North America Pet Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Pets Type
   9.2.4.1 Dogs
   9.2.4.2  Cats
   9.2.4.3  Others
  9.2.5 Historic and Forecasted Market Size By Price Range
   9.2.5.1 Premium
   9.2.5.2  Economy
  9.2.6 Historic and Forecasted Market Size By Gender
   9.2.6.1 Male
   9.2.6.2  Female
  9.2.7 Historic and Forecasted Market Size By Sales Channel
   9.2.7.1 Online Retailers
   9.2.7.2  Offline
   9.2.7.3  Other Sales Channel
  9.2.8 Historic and Forecast Market Size by Country
   9.2.8.1 US
   9.2.8.2 Canada
   9.2.8.3 Mexico
 9.3. Eastern Europe Pet Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Pets Type
   9.3.4.1 Dogs
   9.3.4.2  Cats
   9.3.4.3  Others
  9.3.5 Historic and Forecasted Market Size By Price Range
   9.3.5.1 Premium
   9.3.5.2  Economy
  9.3.6 Historic and Forecasted Market Size By Gender
   9.3.6.1 Male
   9.3.6.2  Female
  9.3.7 Historic and Forecasted Market Size By Sales Channel
   9.3.7.1 Online Retailers
   9.3.7.2  Offline
   9.3.7.3  Other Sales Channel
  9.3.8 Historic and Forecast Market Size by Country
   9.3.8.1 Bulgaria
   9.3.8.2 The Czech Republic
   9.3.8.3 Hungary
   9.3.8.4 Poland
   9.3.8.5 Romania
   9.3.8.6 Rest of Eastern Europe
 9.4. Western Europe Pet Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Pets Type
   9.4.4.1 Dogs
   9.4.4.2  Cats
   9.4.4.3  Others
  9.4.5 Historic and Forecasted Market Size By Price Range
   9.4.5.1 Premium
   9.4.5.2  Economy
  9.4.6 Historic and Forecasted Market Size By Gender
   9.4.6.1 Male
   9.4.6.2  Female
  9.4.7 Historic and Forecasted Market Size By Sales Channel
   9.4.7.1 Online Retailers
   9.4.7.2  Offline
   9.4.7.3  Other Sales Channel
  9.4.8 Historic and Forecast Market Size by Country
   9.4.8.1 Germany
   9.4.8.2 UK
   9.4.8.3 France
   9.4.8.4 Netherlands
   9.4.8.5 Italy
   9.4.8.6 Russia
   9.4.8.7 Spain
   9.4.8.8 Rest of Western Europe
 9.5. Asia Pacific Pet Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Pets Type
   9.5.4.1 Dogs
   9.5.4.2  Cats
   9.5.4.3  Others
  9.5.5 Historic and Forecasted Market Size By Price Range
   9.5.5.1 Premium
   9.5.5.2  Economy
  9.5.6 Historic and Forecasted Market Size By Gender
   9.5.6.1 Male
   9.5.6.2  Female
  9.5.7 Historic and Forecasted Market Size By Sales Channel
   9.5.7.1 Online Retailers
   9.5.7.2  Offline
   9.5.7.3  Other Sales Channel
  9.5.8 Historic and Forecast Market Size by Country
   9.5.8.1 China
   9.5.8.2 India
   9.5.8.3 Japan
   9.5.8.4 South Korea
   9.5.8.5 Malaysia
   9.5.8.6 Thailand
   9.5.8.7 Vietnam
   9.5.8.8 The Philippines
   9.5.8.9 Australia
   9.5.8.10 New Zealand
   9.5.8.11 Rest of APAC
 9.6. Middle East & Africa Pet Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Pets Type
   9.6.4.1 Dogs
   9.6.4.2  Cats
   9.6.4.3  Others
  9.6.5 Historic and Forecasted Market Size By Price Range
   9.6.5.1 Premium
   9.6.5.2  Economy
  9.6.6 Historic and Forecasted Market Size By Gender
   9.6.6.1 Male
   9.6.6.2  Female
  9.6.7 Historic and Forecasted Market Size By Sales Channel
   9.6.7.1 Online Retailers
   9.6.7.2  Offline
   9.6.7.3  Other Sales Channel
  9.6.8 Historic and Forecast Market Size by Country
   9.6.8.1 Turkey
   9.6.8.2 Bahrain
   9.6.8.3 Kuwait
   9.6.8.4 Saudi Arabia
   9.6.8.5 Qatar
   9.6.8.6 UAE
   9.6.8.7 Israel
   9.6.8.8 South Africa
 9.7. South America Pet Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Pets Type
   9.7.4.1 Dogs
   9.7.4.2  Cats
   9.7.4.3  Others
  9.7.5 Historic and Forecasted Market Size By Price Range
   9.7.5.1 Premium
   9.7.5.2  Economy
  9.7.6 Historic and Forecasted Market Size By Gender
   9.7.6.1 Male
   9.7.6.2  Female
  9.7.7 Historic and Forecasted Market Size By Sales Channel
   9.7.7.1 Online Retailers
   9.7.7.2  Offline
   9.7.7.3  Other Sales Channel
  9.7.8 Historic and Forecast Market Size by Country
   9.7.8.1 Brazil
   9.7.8.2 Argentina
   9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research