Pet Care Products Market Growth Accelerated by Increasing Pet Humanization

Pet Care Products Market


 Pet care products such as grooming products, food, toys and other accessories are an essential part of pet care as it helps in maintaining pets overall health and hygiene. With a rise in nuclear families, pets are increasingly being thought of as companions rather than just animals by their owners. This has prompted a higher demand for advanced pet care products tailored to health, nutrition and other unique needs of pets. The global Pet Care Products Market is estimated to be valued at US$ 246.66 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The demand for pet care products is witnessing strong growth driven by increasing pet humanization trend where pets are treated more like family members. Pet parents have become more aware about their pets' health, diet and care needs. They also often buy boutique products targeted at specific needs of their pets. Companies are launching innovative products incorporating natural and organic ingredients along with value added features appealing to pet owners. For example, there has been a rise in demand for grain-free and limited ingredient pet foods as well as snacks and treats made from human-grade meat. Customized services have also emerged allowing owners to order tailored diets, vitamins and supplements for their pets based on their unique lifestyle and medical conditions. This trend of customized pet care is expected to further fuel the demand in coming years.

Segment Analysis

The global pet care products market is segmented into pet food, pet care, and pet accessories. The pet food segment dominated the market in 2024, accounting for nearly 40% share of the global market. This is because pet food needs to be provided on a daily basis by the pet owners, regardless of expensive or low-cost food options. Pet care includes toys and healthcare products that are essential to keep pets fit and entertained. However, the demand for pet accessories such as leashes, apparels, carriers is expected to witness the highest growth during the forecast period owing to the rising adoption of pets for companionship and growing humanization of pets.

Key Takeaways
The Global Pet Care Products Market Demand is expected to witness high growth during the forecast period.

Regional analysis: North America currently dominates the global pet care products market and is expected to maintain its dominance during the forecast period. This is attributed to factors such as high pet ownership, high consumer spending on pet care, and presence of major players in the region. Asia Pacific is projected to witness the fastest growth aided by expanding pet care industry, growing pet adoption, and rising middle-class income groups willing to spend more on pets.

Key players: Key players operating in the pet care products market are Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Corbion N.V., Cargill, Incorporated, and KLK OLEO. These players are focusing on new product development and geographic expansion to strengthen their market position. For instance, in 2023, Vantage Specialty Chemicals, Inc. launched a new sustainable pet care product range made from renewable raw materials to expand its green product portfolio.

For more details on the report, Read- https://www.insightprobing.com/pet-care-products-market-growth-demand-and-overview/

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