Pet Care Market 2018 Industry Trends, Company Profiles, Business Development and Forecast 2023
The Global Pet Care Market is growing at a rapid pace; mainly due to the increasing per capita income. In the year 2016, the market had valued at approximately USD 75 BN with about 4% CAGR. The market will continue to grow during the forecast period. The rise in the income levels of individuals is leading to increasing the number of pet adoption which ultimately leads to the increasing demand for pet care.
The trend of nuclear families and increasing average income among individuals has resulted in increased adoption of pets among families in the middle-income group as well. Increased awareness towards animal cruelty has also influenced people awareness and ideologies towards animals. As a result, the pet care market is expected to witness huge accruals on the global platform.
Acknowledging the exponential growth, the market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the global pet care market will perceive colossal accruals by 2023 registering approximately 4% CAGR during the forecast period (2017 to 2023).
- Aller Petfood Llc,
- Ancol Pet Products Limited,
- Martin & Martin (Pty) Ltd.,
- J.M. Smucker Company,
- PetLife LLC and Platinum Pets
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Current Industry News:
November 07 2018 – Sniffers Pet Care (UK), a pet food wholesaler and distributor announced the location expansion of its production unit to 6,250 sq ft of industrial space at the Bridge Business Park in Huddersfield. The company has confirmed £3 MN investment for the same.
November 05, 2018 – Mars Petcare (U.S.) announced the launch of two global holiday-related activations for its Pedigree and Cesar Canine Cuisine brands.
Table Of Content
- Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4 Market Segmentation
- Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
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The North America region is estimated to lead the pet care market with a significant market share. Factors such as the growing demand for the quality health care for pets led by the growing number of pet owners substantiate the market growth of this region.
The pet care market in the European region accounts for the world’s second-largest market. The region is expected to demonstrate healthy growth throughout the review period. Factors driving the market growth include the well-proliferated pet healthcare sector that is witnessing the growing number of advanced facilities due to the increased expenditures for pet care.
The Asia Pacific market for pet care is emerging as a lucrative market with the rising number of pet owners and the ever-increasing pet lovers. Growing funding support from the government and private organizations are fostering the market growth.
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