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Pet utility products are manufactured to cater to the necessities of pets. They are used for the grooming and other health concerns of the pets. Pet utility products are durable, safe, non-allergenic, washable, and stylish. These products are commonly made up of stainless steel, plastic, and other materials that are non-toxic and not- harmful. Increased ownership of pets and rising concern for their health have boosted the pet utility products industry. The easy availability of the products at an affordable cost has also increased the penetration of the pet utility products. Moreover, technological advancements have resulted in launch of advanced products to help the pets better. For example, in March 2019, Fi - Next Generation Dog Collars announced the launch of smart GPS- enabled dog collar to which will help the owner to track their dogs' location so as to prevent the cases of lost dogs.
Key Market Driver -
Increasing in number of pet owners
Key Market Restraint -
Risk of animal health by the use of cheap products
Global pet utility products market growth is being driven by the increase in a number of pet owners, rise in number of nuclear families, increase in the number of local manufacturers, and rising concern for animal care. Moreover, pet ownership and spending on its care are seen as a mark of social status and sensitivity, which is expected to be a major factor contributing to the growth of pet utility products market.
However, cheap product quality by different market players, which increases the risk of animal health is a major factor that can inhibit the growth of the global pet utility products market.
The major companies covered in the global pet utility products market report include IRIS USA, Costal Pet Products Inc., Cycle Dog, NITE IZE, Hyper-Pet LLC, K & H PET PRODUCTS, Honest Pet Products LLC, MidWest Homes For Pets, Simply Fido, Outward Hound, Innovation Pet, Bed Bath & Beyond Inc., Petco Animal Supplies Inc, PET PARENT, ThinkRace Technology, PT Labs, LLC and others.
As per the current pet utility products market trends, dogs segment among the animal type are anticipated to register a higher market share in the global pet utility products market in the forecast duration owing to the increasing number of dog owners and the high preference for dogs as a pet in many households. According to the American Pet Products Association, 60.2 million households in the U.S owned a dog during 2017-2018, making it the most common pet in the U.S., which is anticipated to fuel the demand for dog utility products.
The global pet utility products market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global pet utility products market over the forecast period owing to the increasing expenditure on pets and pet products. According to the American Pet Products Association, a total of 393 Mn pets were owned in the U.S. during 2017-2018, which is likely to favor the demand for pet utility products in North America.
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In Europe, the pet utility products market is projected to expand due to the rising concern on animal health. The pet utility products market in Asia Pacific, Latin America, and Middle East and Africa is expected to grow primarily due to the improved distribution channels in these regions, improving health reforms and awareness on animal health.
By Product Type
By Animal Type
By Distribution Channel
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