Pet Care Market Size, Share & COVID-19 Impact Analysis, By Product Type (Pet Food Products, Veterinary Care, and Others), Pet Type (Dog, Cat, and Others), Distribution Channel (Online and Offline), and Regional Forecast, 2021-2028

The global pet care market size was USD 207.90 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with pet care products witnessing a positive demand shock across all regions amid the pandemic. Based on our analysis, the global market will exhibit a stellar growth of 28.11% in 2020. The market is projected to grow from USD 222.93 billion in 2021 to USD 325.74 billion in 2028 at a CAGR of 5.6% in the 2021-2028 period. The sudden fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Pets are considered members of the family among the vast majority of pet owners. The increasing knowledge about animal welfare and well-being has led to the increasing popularity of pet care products. Animal care products are different in categories, such as food, hygiene, toys, and others. Prominent companies offering animal food items such as Mars Incorporated, Nestle S.A., and others are focused on providing nutritional and calorific value in their products. Additionally, they are offering flavored animal food items to attract pet owners. For instance, in February 2020, Champion Petfoods LP introduced ORIJEN small breed, a wild-fish caught & flavored recipe-based dog food item in the U.S. market.    

Social-isolation to Push Need for Pet-ownership Amid Coronavirus

Nowadays, people are mainly suffering from a mental state of isolation as they strictly have to stay at home during the lockdown. Having a pet can effectively help in recovering an individual from such a mental state. This is likely to ease animals' humanization rate, thereby driving the pet industry growth. According to a survey ‘2019-2020 APPA National Pet Ownership’ conducted by American Pet Products Organization, as of 2020, 67% of the U.S. households owned a pet over 56% in 1988.

Additionally, dog owners are highly conscious about preventing their dogs from getting infected by the coronavirus. This is likely to ease the dog vets' revenues and other dog healthcare products during the pandemic period. For instance, from 1^st December 2019 to 1^st February 2020, Fox News reported a tenfold increase in the total number of dog face masks in China. However, shutting down the pet food stores due to the lockdown restrictions in many countries across the globe is likely to hamper such products' revenues.

LATEST TRENDS

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Shifting Trends Towards Dietary Food Items to Uplift Market

Nowadays, pet dogs are largely suffering from obesity problems in many countries across the globe. This is likely to increase the demand for dog owners' dietary food items to maintain their pet dogs' health. According to the data presented by the American Animal Hospital Association, in 2019, more than half of the adult pet dogs are considered overweight among the 1,000 hospitals across Benfield, U.S.   

Moreover, shifting animal owner trends towards feeding plant-based and nutritious food items to their pets is further likely to drive vegan animal food items. Besides this, the growing popularity of the subscription-based dog and cat toys’ services among their owners is also expected to drive the animal toy items' demand. Rising demand for premium quality animal hygiene products is further likely to support market growth.    

DRIVING FACTORS

High Spending on Pet Care to Favor Enormous Growth

Increasing spending of the people on different kinds of pet care-related products such as food, healthcare, grooming, and others is likely to ease such products’ consumption rate, thereby driving the pet care market growth. According to the data presented by the Pet Food Industry Association of Australia, in 2019, Australia’s spending on pet veteran-related pet services reached USD 2,600 million, up from USD 2,200 million in 2016.

Other factors such as increasing infrastructural facilities of the pet care stores in many countries worldwide are further likely to support such products' consumption rate, thereby driving the market growth. Having a cat is considered a prestigious symbol among high-class living societies. Therefore, changing the global population's lifestyles is further likely to drive the demand for such products.

Initiatives for Advanced Pet Care Products to Support the Market Growth

Nowadays, companies are implementing various initiatives regarding developing technologically-enabled animal care products for the industry. This is likely to support the development of innovative animal care products such as location tracker devices, cardboard pet feeder devices, smart laser cat toys, and others, thereby driving the market growth. For instance, in February 2020, Nestle S.A. launched ‘Unleashed’ a global pet care industry's international innovation program. This program was aimed to provide total funding of USD 51,922.4 to the start-up companies associated with the manufacturing of the various pet care items from Europe, North America, Middle East by the end of 31^st March 2020.

RESTRAINING FACTORS

Higher Cost of High-Quality Products to Restrain the Market Growth

The higher cost of high-quality pet care products is expected to limit its demand among the lower-income population. Additionally, uncertain incidences of animal-borne diseases such as abdominal pain, diarrhea, and others to the owners due to their pets' unhygienic living practices are anticipated to restrain the market growth. Besides this, uncertain regulations regarding the labeling and promoting pet care products are further expected to hamper the companies’ revenues.

SEGMENTATION

By Product Type Analysis

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Large Necessities of the Nutritious Food Items Makes Pet Food Segment to Hold a Major Pet Care Market Share.

The largest share of the pet food segment is attributed to the great demand for tasty and nutritious food items among the owners for their daily feeding needs. According to the data presented by the European Pet Food Industry Association (FEDIAF), in 2019, sales of pet food products in Europe reached nearly 8,500 million tonnes. Additionally, easy accessibility of the variety of animal food items to the people results in a larger revenue generation from such a segment.

Faster growth of the veterinary care segment is attributed to the growing commercial settings related to the animal veterinary care clinics in many countries across the globe, thereby likely to drive the animal vet-related products' consumption rate. According to the data presented by the American Veterinary Medical Association, in 2019, there were more than 95,000 veterinary medical organizations in the United States. Additionally, growing awareness regarding health care and hygiene among the population worldwide is further likely to drive segmental growth.

Other segment, including various products such as pet grooming & hygiene, toys, etc., are primarily driven by the growing consumer awareness regarding the availability of animal care products. Additionally, growing consumption of the on-demand video contents related to pet grooming and hygiene is further likely to drive segmental growth.  

By Pet Type Analysis

 Dog Segment to Hold a Major Market Share

The larger number of pet dogs results in higher revenues from the dog care products. According to the data presented by the American Pet Products Organization, in 2019, there were 63.4 million pet dogs in the United States. Besides, residents can prevent robberies in their house by keeping a well-trained canine pet with them. This is likely to provide ease in the dogs' humanization rate among households, thereby driving the segmental growth.

The cat segment is expected to grow at a considerable rate because of rising online sales of cat care products from the various prominent e-commerce sites such as Amazon, Walmart, and others. According to the data presented by the American Animal Hospital Association, in 2018, Amazon’s penetration for cat care products among U.S. households reached 40% compared to that of 27% in 2014. Additionally, the growing popularity of litter boxes for cat hygiene purposes is further driving segmental growth.

Others segments including the various animals such as reptiles, turtles, freshwater & saltwater fishes, birds, horses, and small animals are primarily driven by the growing awareness regarding the availability of the variety of the animal care products among the global population. Additionally, rising aquaculture trends among the fisherman population are further driving future segmental revenues.

By Distribution Channel Analysis

Wide Availability of Products at Pet Stores Makes Offline Segment to Hold a Major Market Share

The offline segment, including the pet stores and supermarkets, is expected to exhibit the largest share of the global market due to the availability of various pet products at these stores. Additionally, growing infrastructural settings related to the pet stores are further likely to support pet products' consumption rate from these stores, thereby driving segmental growth. For instance, in October 2019, Pet Lovers Centre (PLC), a Singaporean largest pet store chain, introduced its two new stores in the Philippines. 

The fastest growth of an online segment is attributed to the growing popularity of online subscription-based services related to animal food products among pet owners worldwide. This will fuel online product sales from such subscription-based services, thereby driving segmental growth. Nowadays, companies can effectively track the different categories of pet products' sales performance from their e-commerce stores. This enables companies to expand their business through the online channel mode, thereby driving segmental revenues.

REGIONAL INSIGHTS

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The largest share of the North American region is attributed to the large spending of the Canadian and U.S. population on pet care related products and services, which results in the larger revenues of such products from the North America region. According to the Statistical Department's data, the Government of Canada, in 2019, Canadian household expenditure on pet insurance, veterinary, and other related services reached USD 2,720 million, up from USD 2,550 million in 2018.

Additionally, large pet owners’ demand towards buying premium quality products for their pets results in the larger revenue generation from such products in the region.

The fastest growth of the Asia Pacific region is attributed to the growing presence of prominent companies such as Mars Incorporated, Nestle S.A., and others in manufacturing facilities in the countries such as India and China. This is likely to provide ease in providing such products by the companies in the Asia Pacific region. For instance, in May 2020, Nestle S.A. invested USD 103.2 million to introduce its two manufacturing facilities of pet supplies in China. Additionally, the rising middle-class population in the region is further likely to support its market growth.

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The European region is expected to grow at a considerable rate for the global market owing to the large presence of the infrastructural settings related to the pet stores and veterinarians in the European region. This is likely to provide ease in the supply of bulk volume of animal accessories and food items to the pet owners, thereby supporting the market growth in the region. According to the data presented by the European Pet Food Industry Association, as of 2019, there were 200,000 veterinarians and 60,000 specialty pet stores in Europe.

Additionally, the presence of a larger number of pet cats among the households in the countries such as Portugal, Germany, and France results in the larger consumption rate of cat food items among such families in the region. According to the data presented by the Central Association of German Zoological Companies, as of 2019, there were 14.7 million pet cats among the households in Germany.

A considerable share of the South America region is attributed to the large presence of aquaculture-related production facilities in the countries such as Brazil and Chile, resulting in the more enormous revenues of the fish food products from such facilities in the region. According to the data presented by the Food and Agricultural Organization of the United Nations (FAO), in 2018, inland water capture production volume in Brazil reached 0.22 million tonnes.

Moreover, growing awareness regarding hygiene and cleanliness among the Middle East and African population is likely to drive the demand for dog tissues, cat litters, pet deodorizers, and other pet hygiene and grooming related items among the households of the Middle East & Africa.

KEY INDUSTRY PLAYERS

Business Expansion and Product Launch are the Most Prominent Strategies Adopted by Key Companies for their Business Growth.

Nowadays, companies focus on developing premium quality and nutritious animal food items to expand their product portfolio. Additionally, they are expanding their production base across the global markets to increase their product revenues. For instance, in October 2019, Kemin Industries, a global nutritious pet food products manufacturer, expanded its business by introducing a production plant of 5,000 sq. m. of an area in Vargeao, Brazil.

LIST OF KEY COMPANIES PROFILED:

• Mars Incorporated (Virginia, U.S.)


• Nestle S.A. (Vevey, Switzerland)


• Spectrum Brands Inc. (Wisconsin, U.S.)


• Diana Group (Bang Krachao, Thailand)


• The J.M. Smucker Company (Ohio, U.S.)


• Unicharm Corporation (Tokyo, Japan)


• Hill’s Pet Nutrition, Inc. (Kansas, U.S.)


• SCHELL & KAMPETER, INC (Missouri, U.S.)


• Tiernahrung Deuerer GmbH (Bretten, Germany)


• Heristo AG (Bad Rothenfelde, Germany)

KEY INDUSTRY DEVELOPMENTS:

• January 2021 – Paws Inc., a New York, U.S. based cat wellness products company, acquired Ocado Group’s Fetch, a U.K. based online pet food store, to expand its business in the European market.


• January 2020 – SigmaTron International Inc., a U.S.-based electronics manufacturing company, merged with Wagz, Inc., a privately held pet technology company, to implement various kinds of modern technology measures to improve the health wellbeing of U.S. millennials’ pets.

REPORT COVERAGE

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The market research report provides a detailed industry analysis and focuses on key aspects such as competitive landscape, product type, pet type, and distribution channel areas. Besides this, it offers insights into the various pet care market trends and highlights key industry developments. In addition to these mentioned factors, it encompasses several other factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation