Pet Care Market
Rising expenditures on pet health and insurance, alongside a surge in pet adoption rates and higher disposable incomes in developing nations, are boosting the growth of the pet care market.n
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How Will Sustainability Trends Impact the Pet Care Market s Growth to $287.96 Billion by 2031?
Pet Care Market 2024-2031 The global pet care market is projected to hit $287.96 billion by 2031, according to Meticulous Research . This growth, anticipated at a CAGR of 5.9% from 2024 to 2031, is fueled by higher expenditures on pet health, increased pet ownership, and growing incomes in emerging economies. Innovations in pet products and a shift towards premium offerings are also expected to drive market expansion. Request For Sample Report: https://www.meticulousresearch.com/request-sample- report/cp_id=5907? Impact of Pet Humanization The trend of treating pets as family members is significantly influencing market growth. Key aspects of this trend include: Treats: Treats are used to enhance bonding, reward pets, and support dental health. Seasonal Treats: Companies are now offering seasonal snacks, such as holiday- themed biscuits. Pet Apparel: Fashion brands are entering the pet clothing sector, with Gucci launching a range of pet apparel in 2022. Market Segmentation The market is divided into pet food, pet products, and pet services. The pet food segment is expected to grow the most, with a CAGR of 7.0%. This is due to increased pet adoption, a preference for premium pet foods, and ongoing product innovations. For example, Blue Buffalo's introduction of holiday-themed treats, like Blue Buffalo Santa Snacks, underscores this trend. Animal Demographics In 2024, dogs are projected to hold the largest market share of 57.2%. This is supported by the APPA National Pet Survey, which found that 65.1 million U.S. households have dogs, outnumbering cat ownership. Sales Channels The market is segmented into offline and online sales channels. The online segment is expected to grow at a higher CAGR due to factors such as the rise of e-commerce, smartphone usage, and attractive discounts. Subscription services for pet products are also contributing to this growth. Regional Analysis Page 1 of 2 Meticulous Research| sales@meticulousresearch.com
Pet Care Market 2024-2031 The pet care market is segmented by region: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to experience the highest CAGR of 7.7%, driven by increased pet adoption, rising incomes, and greater availability of international pet care products. Buy Now: https://www.meticulousresearch.com/Checkout/32176508? About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com
