Pet Care Market Size to Boost US$253 billion by 2030 | CAGR 8. 0% – IndustryARC – EIN News

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The Pet Care Market size is estimated to reach $253 billion by 2030, growing at a CAGR of 8. 0% during the forecast period 2023-2030.

HYDERABAD, TELANGANA, INDIA, February 2, 2023 / EINPresswire. com / — IndustryARC, in its latest report, predicts that The Pet Care Market size is approximated to reach $253 billion simply by 2030, growing at a CAGR of 8. 0% throughout the forecast period 2023-2030. Dog care encompasses a vast range of services and products, ranging from pet essentials like canned Pet Food and pet care clinics to luxury pet grooming visits and pet accessories. Owners are now more focused on the quality and specific nutritional requirements of their pets and they depict the luxury of their pets as a symbol of their style statement. This combination is set to be a definitive indicator of the bright future of the Pet Care Market.

Pet owners’ co-dependence on their pets has led to a situation where, regardless of the cost, they agree with any product that makes their pets happy. Due to this trend of humanization of pets, high-end products like pet treadwheels and treadmills, smart feeders, GPS pet trackers, etc . are increasingly becoming mainstream. This aids significantly in the expansion of the pet care industry. Additionally , the rising popularity associated with organic and canned pet food items, which are on average almost 50% more expensive than conventional ones, is set to boost the pet care market’s growth. This represents the Pet Care Industry Outlook.

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https://www.industryarc.com/Research/Pet-Care-Market-1558683768

Key takeaways:

This IndustryARC report on the Pet care Market highlights the following areas –

1 . The dominance of the North America Region: According to the Pet Treatment market forecast, North America held the largest share (37. 0%) of the overall market in 2022.

2 . Dog Segment Holding Largest Family pet Care Market Share: Based on Pet Type, the Dog segment kept the largest Pet care market share in 2022, i. e., $57 billion. It is estimated to reach $105 billion by 2030, growing at a CAGR of 8. 1% during the forecast period of 2023–2030.

3. The dominance of the Dog Food Segment: Based on Product Type, the Pet Food segment is estimated to grow at the fastest CAGR of 8. 4% during the forecast period 2023–2030 as per the Pet Care Market analysis.

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Segmental Analysis:

1 . Increasing Popularity of Premium Organic Food Brands: According to Consumer Reports, organic foods are on average 50% more expensive than standard ones. Many key players have already entered the market after identifying the increasing trend of organic pet foods

2 . Entry of Family pet Care Insurance Policies: The humanization of pets has grown within lockstep with the rise in disposable income. Pet Care insurance is a new subset from the insurance market that has been created as a result of this trend.

3. Prevalence of Pet Related Allergies: As per a report published by Allergy, Asthma & Immunology Research, nearly 10 to 20% of the global population is affected by allergies to dogs and cats today.

Competitive Landscape:

The top 5 players in the Dog Care Industry are –

1 . Mars Petcare, Inc. (Pedigree)
2 . Nestle Purina Pet Care (Purina felix)
3. J. M. Smucker Company (9Lives ^® )
4. Cargill (Bestmin Gold)
5. Unicharm Corporation

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Related Reports:

A. Pet Care Packaging Marketplace
https://www.industryarc.com/Research/Global-Petcare-Packaging-Market-Research-513485

B. Pet Grooming Market
https://www.industryarc.com/Report/15076/pet-grooming-market.html

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