Increase in pet care market is also inversely related to increase in pet adoption rates due to fewer financial restrictions to take a pet, availability of suitable pet care services and awareness of the benefits of keeping pets. Pet food segment in the pet care industry is one of the major driving factors for the growth of the industry. Presence of many international players in the market in pet food sector has attracted positive attention and growth opportunities for the sector. Since pet owners grow increasingly attached to their pets, they tend to invest time and money on them. Delayed parenthood is also one of the causes towards increase in the number of pets that are adopted.

Due to rise in the levels of disposable income, pets are increasingly being adopted to provide companionship and reduce the feeling of solitariness which has become extremely common due to nuclear families structure. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, published in its recent report on Global Pet Care Market Research Report- Forecast to 2027 that the global pet care market is developing at a comfortable pace while demonstrating an excellent CAGR % during the forecast period.

Top Companies:

• Nestlé,
• Platinum Pets,
• Ancol Pet Products Limited,
• BHJ,
• earthbath,
• J.M. Smucker Company,
• Aller Petfood Llc,
• Martin & Martin (Pty) Ltd.,
• Beaphar,
• PetLife LLC 

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Industry Segments:

The market for pet care products has been divided on the basis of application and product & service.

On The Basis Of Application: Dog Care, Bird Care, Cat Care, Fish Care, Others

On The Basis Of Product and Service: Pet Food, Pet Healthcare

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Latest Market Trends and Updates:

Mars Petcare has recently announced the acquisition of DNA diagnostics specialist OptiGen LLC, which is also known for its expertise in treating inherited eye condition in canines. The acquisition will allow Mars Petcare access to an array of genetic diseases test patented in the Australia, the U.S and several European countries along with a “biobank” of over 150,000 samples of canine eye diseases, which have been collected during the span of two decades.

Leading canned dog food company butcher’s pet care has recently unveiled its digital and on pack communications to better assist buyers in understanding that company only uses high ingredients for manufacturing its products. The company has been involved in dog food manufacturing business for more than three decades now.

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Regional Outlook:

On the basis of region, the global market for pet care has been segmented into Asia Pacific (APAC), Europe, Americas and the Middle East & Africa (MEA). Among these, the market in Americas is expected to remain highly attractive throughout the assessment period. This is primarily owing to the growing pet humanization trends where pets receive a near-equal treatment to that of human beings. Meanwhile, Asia Pacific pet care market is also expected to exhibit a healthy growth over the next couple of years. Factors such as increasing discretionary spending and improving lifestyle are making a positive influence on the region’s market.

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