DUBLIN, Nov. 29, 2023 (Globe Newswire) — “Pet Care Global Strategic Business Report” Report added ResearchAndMarkets.com Recruitment.
Global pet care market expected to reach $305.1 billion by 2030
The global pet care market, estimated at USD 193.6 billion in 2022, is projected to reach a revised size of USD 305.1 billion by 2030, at a CAGR of 5.9% over the analysis period 2022-2030. grow in
Pet food, one of the segments analyzed in the report, is projected to register a CAGR of 5.4% and reach USD 134.7 billion by the end of the analysis period. Growth in the veterinary healthcare sector is estimated at a CAGR of 5.8% over the next eight years.
The US market is estimated at $82.9 billion, while China is projected to grow at a CAGR of 7.6%
The US pet care market is estimated at USD 82.9 billion in 2022. China, the world’s second largest economy, is expected to reach a projected market size of USD 10.6 billion by 2030, trending at a CAGR of 7.6% YoY. The analysis period is from 2022 to 2030.
Other notable geographic markets include Japan and Canada, which are expected to grow by 4.8% and 6.2%, respectively, from 2022 to 2030. Among Europe, Germany is projected to grow at a CAGR of approximately 4.7%.
Focus on carefully selected players(197 posts in total)
- Bayer AG
- ADM Animal Nutrition
- armitage pet care
- Bacon Products Co., Ltd.
- Animal Health International Co., Ltd.
- A. Reaper AG
- Babel Bark Co., Ltd.
- AFB International
- Affinity Pet Care SA
- Agway Co., Ltd.
- Alcon Industria e Comercio de Alimentos Desidratados Ltda.
- Aller Pet Food LLC
- Almo Nature Spa
- Alona Fodel Fabric AB
- Barking Heads & Meowing Heads Pet Food UK Ltd.
Key attributes:
report attributes | detail |
number of pages | 571 |
Forecast period | 2022-2030 |
Estimated market value in 2022 (USD) | $193.6 billion |
Projected market value to 2030 (USD) | $305.1 billion |
compound annual growth rate | 5.9% |
Target area | global |
Market overview
- Impact of the COVID-19 pandemic on the pet industry
- Meat and poultry supply chain disruptions impact pet food market
- Online channels show bright spots
- Introduction to pet care
- Global Pet Care Market: Outlook and Prospects
- Dogs and Cats: Key Categories in the Pet Care Market
- Pet food leads the global pet care market
- Developed regions will lead, developing countries will drive future growth
- Demand for pet care products surges as pet ownership increases
- Facts about pets around the world: a snapshot
- Millennials lead in pet ownership
- competition
- Strengthens portfolio with acquisition of Players Eye
- Recent M&A activity in the global pet food market
- world brands
- Recent market activity
- Competitive Market Presence – Strong/Active/Niche/Mediocre (E) for Players Worldwide in 2022
Market trends and drivers
- Notable trends significantly impacting the global pet care market
- Shift to sustainable products
- Custom-made foods and products with healthy ingredients
- Telemedicine attracts attention
- advanced wearable collar
- private label profits
- Online ordering and social media
- The humanization trend of pets is causing pet owners to increase their spending on pet care products
- Anthropomorphism of pets opens the way to premiumization
- Pet dog used as a stress reliever within the organization
- Pet health and wellness: the most important topic in the pet care market
- Functional pet treats become increasingly important
- Pet Food Division: Driven by a passion for pets
- The trend towards premium pet food is growing
- Dry food is preferable to wet food
- Growing preference for raw pet food and animal protein
- Rising demand for pet nutritional supplements creates new growth opportunities
- Spending on pet care increases due to the spread of zoonotic diseases and food poisoning
- OTC medicines for pets: Increasing awareness of pet health supports demand
- Pet Grooming Services: Focus on Appearance and Hygiene to Promote Growth
- Pet grooming products grow in popularity
- Pet insurance is accepted by pet owners
- Direct-to-consumer business model supports personalization in pet care market
- Emerging trends in pet technology that are transforming the pet care market
- Emergence of innovative technology improves veterinary services
- Carefully selected innovations in the pet care industry
- Telemedicine set brings significant changes to veterinary medicine
- Digital revolution transforms pet care distribution landscape
- Key retail channels for the pet food industry
- E-commerce platforms record dramatic growth
For more information about this report, please visit: https://www.researchandmarkets.com/r/4afmjg
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