Pet Market (Purchasing of Pets) to Register 7. 5% CAGR through 2032 Amid Rising Pet Adoption and Dog Ownerships – Future Market Insights, Inc. – PR Newswire
The male pets segment is expected to account for the largest share of the global pet market. Growing Trend of Pet Humanization and Premiumization Creating Favourable Environment for Pet Market. The leading players in pet market (purchasing of pets) are Petco, Pet finder, PetSmart, Pet mate, and Petco Foundation.
NEWARK, Del. , Aug. 17, 2022 /PRNewswire/ — As per a recent marketplace analysis by Future Marketplace Insights (FMI), the pet market (purchasing of pets) is set to reach a valuation of US$ 16, 607. 2 Mn in 2022. Sales are projected to increase at 7. 5 % CAGR during the forecast period (2022-2032), driving total market valuation to US$ 34, 140. 7 Mn by 2032.
Surge in pet adoption and ownership due to rapid urbanization, increasing disposable income, and health reasons is pushing the sales of pets in the worldwide market. Pets are currently owned by 70% to 8% percent of homes.
Similarly, growing trend of humanization along with easy availability of pets through online product sales channels and expansion associated with pet grooming and dog care markets is expected to boost market growth during the forecast period.
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A growing number of people treat their animals like family members, choosing food and treats depending on their pets’ dietary limitations or their own values and diet regimens, such as veganism.
Key Takeaways from the Pet Market (Purchasing of Pets) Study:
- By pets’ type, dogs and cats’ segments currently form the largest share of the global pet market and the trend is likely to continue during the forecast time period.
- Based on gender, male segment is likely to be most remunerative in the global family pet market over the assessment period.
- Argentina holds a significant share of the global pet market (purchasing of pets).
- Demand for pets in Australia is anticipated to rise at a robust pace during the next decade.
- With rising consumer inclination towards adopting pets, the U. S, will continue to dominate North American pet market (purchasing associated with pets) during the forecast time period.
“Rapid urbanization plus rise of pet humanization have boosted triggered dog adoption and ownership, thereby creating chances to improve profitability in the market” – says the FMI Analyst
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Who is Winning?
Leading suppliers in pet marketplace (purchasing of pets) are usually focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the family pet market (purchasing of pets).
Major players present in the pet market:
- PetSmart
- Petco
- Petland
- Petmate
- Petfinder
- Adoptapet. com
- The Shelter Pet Project
- Best Friends Animal Society
- Petco Foundation
- Petango
- Others
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global pet market (Purchasing of pets), presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the Pet Market (purchasing associated with pets) based on Pet Type (Dogs, Cats, Birds, Fishes), Price Range (Economy and Premium), Sales Channel (Online, Offline), & Region for 2022-2032
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Market By Category
By Pets Type:
- Dogs
- Cats
- Others
By Price Range:
- Premium
- Economy
Simply by Gender:
- Male
- Female
By Sales Channels:
- Online Retailers
- Offline
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Table of Content
1 . Executive Summary
one 1 . Global Market Outlook
1 . 2 . Demand-side Trends
1 . 3. Supply-side Styles
1 . 4. Technology Roadmap Analysis
1 . 5. Analysis and Recommendations
2 . Market Overview
2 . 1 . Market Coverage / Taxonomy
2 . 2 . Market Definition / Scope / Limitations
3. Marketplace Background
3. 1 ) Market Dynamics
3. 1 . 1 . Drivers
3. 1 . 2 . Restraints
3. 1 . 3. Opportunity
3. one 4. Trends
3. second . Scenario Forecast
3. 2 . 1 . Demand in Optimistic Scenario
3. 2 . 2 . Demand in Likely Scenario
3. second . 3. Demand in Conservative Scenario
3. 3. Chance Map Analysis
3. 4. Investment Feasibility Matrix
3. 5. PESTLE and Porter’s Analysis
3. 6. Regulatory Landscape
3. 6. 1 . By Key Regions
a few. 6. 2 . By Key Countries
4. Global Pet Market (Pet Purchasing Market) Evaluation 2017-2021 and Forecast, 2022-2032
4. 1 . Historical Market Size Value (US$ Mn) & Volume (Mn Units) Analysis, 2017-2021
four. 2 . Current and Future Market Size Value (US$ Mn) & Volume (Mn Units) Projections, 2022-2032
4. 2 . 1 ) Y-o-Y Growth Trend Analysis
4. 2 . 2 . Absolute $ Possibility Analysis
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Pet Furniture Market Outlook : The global pet furniture market is estimated to be valued at US$ 1 . 8 Bn in 2022 and is projected to reach US$ 3. 1 Bn by 2032. The market will be anticipated to exhibit growth at a CAGR of 5. 8% from 2022 to 2032.
Pet Stain Remover plus Odour Control Market Share : The global pet stain remover and odour control market is estimated at US$ 8. 4 Bn in 2022 and is projected to reach US$ 12. 0 Bn by 2032, in a CAGR of 3. 6% from 2022 to 2032
Family pet Monitoring Camera Market : The global pet monitoring camera market size is estimated at US$ 54. 3 Mn in 2022 and is projected to reach US$ 93. 5 Mn by 2032, exhibiting a CAGR of 5. 5% between 2022 to 2032
Pet Car Seat Marketplace : The pet car seat market is estimated to reach a valuation of ~US$ 2 . eight Bn in 2022 and is projected to surpass US$ 5. 0 Bn by 2032, at a CAGR of 4. 7% from 2022 to 2032
Pet Lodging Market : The pet lodging market size is estimated to be valued in US$ a few. 1 Billion in 2022 and is forecasted to reach US$ 5. 0 Billion by 2032, expanding at a CAGR of 5% from 2022 to 2032
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the need in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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SOURCE Future Market Insights