The
global pet care market is expected to reach USD 202.6
billion by 2025, according to a new report by Grand View Research, Inc. Rise in
the adoption of pets and growing demand for premium care products are few
factors expected to drive market growth.
Advances
in technology are making boarding, grooming, and training facilities more
easily accessible to the owners. According to Wakefield Research, 69% of
millennials are likely to use technology to keep track of their pets. Apps are
allowing owners to monitor health habits, nutritional intake, and playtime.
Built-in calendars alert owners to routine care provided by pet care services
companies. More millennials and others are embracing the latest innovations in
technology related to caring for their pets, including pet cams and automated
feeders
Mobile
device apps such as Wag and DogVacay help owners conveniently connect with pet
walkers and sitters. Finding Rover uses facial recognition to unite lost pets
and their owners. The services industry can anticipate continued innovation.
Enticed
by lower start-up costs than maintaining a brick-and-mortar business, more
groomers are getting into mobile grooming on their own or through franchises.
Mobile groomers typically advertise through veterinary offices and local pet
shops.According to estimates of the American Pet Products Manufacturers
Association, Americans will spend USD 5.4 billion on pet grooming and boarding
services in 2017.
Larger
services providers such as retailers PetSmart and PETCO run regular marketing
campaigns through use of print, broadcast, digital, and social advertising
platforms. Smaller providers rely on word-of-mouth. Mobile groomers advertise
with company vans and promote their businesses through retailers and
veterinarians.
Browse full
research report on Pet Care Market: www.grandviewresearch.com/industry-analysis/pet-care-market
Further key
findings from the study suggest:
- The global pet care market size was estimated
at USD 131.7 billion in 2016 and is expected to grow with CAGR of 4.9%
from 2016 to 2025
- Based on type, dogs held the largest market
share owing to increase in the adoption of dogs and health benefits
associated with them.
- Cats are anticipated to witness lucrative
growth over the forecast period. Cats help reducing stress and anxiety,
decrease risk of stroke and require less training.
- The pet food segment was estimated to be the
largest product segment due to growing demand for premium food products
and natural & organic products.
- Boarding and grooming services segment is
anticipated to witness fastest growth over the forecast period owing to
advances in technology, making boarding, grooming, and training more
easily accessible for the owners
- U.S. held the largest share in market in 2016
due to rising animal healthcare expenditure and growing awareness of
animal health in the country.
- India is anticipated to witness lucrative
growth over the next decade due to increase in adoption of pets and rising
disposable income.
- Some of the key players including PetSmart
Inc., PetCo Animal Supplies, Inc., Nestle, Just for Pets and Ancol
dominated the pet care market in 2016.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/consumer-goods
Grand View Research has segmented the global pet care market on the basis
of type, products and region:
Type
Outlook (Market Revenue in USD Million, 2014 - 2025)
- Dog
- Cat
- Fish
- Bird
Product
Outlook (Market Revenue in USD Million, 2014 - 2025)
- Pet Food
- Veterinary
Care
- OTC/Supplies
- Live
Animal Purchase
- Pet
Boarding/Grooming
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- India
- Japan
- Latin
America
- Brazil
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-pet-care-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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