DUBAI, U.A.E, July 16, 2020 /PRNewswire/ -- Future Market Insights' global pet care market research report concludes that a CAGR of 6% is projected for the 2020-2030 assessment period.
Pet ownership has been increasingly amongst the millennial generation across all continents. Shifting cultural landscapes combined with increasing incidences of loneliness is prompting the younger generation to purchase pets as a source of companionship. Consequently, the pet care market has surged as they require constant monitoring.
A significant portion of expenses is directed towards pet food. Since the past few years, the demand for organic pet foods has surged as consumers become more aware about the adverse effects of feeding synthetic foods on pet health. Moreover, expenses on luxury goods such as pet cosmetics and clothes has also increased.
Going by these trends, the global pet care market is set to experience healthy growth in the aforementioned forecast period.
"Manufacturers are highlighting key ingredients while marketing pet care products, with the objective of making customers aware and enable them to make informed purchase decisions," concludes an FMI analyst.
The global pet care market is characterized by the presence of a plethora of vendors, rendering it quite competitive in nature. Their core strategies include forging effective distribution networks, introducing technological advancements, product launches and collaborations among others.
A number of private labelled brands are penetrating the pet care market. For instance, in 2018, Amazon launched the Wag-a-Pet platform through which it sells dry pet food. Similarly, Walmart has doled out the Ol' Roy pet food series.
Also, Mars Petcare collaborated with Terra Cycle to introduce a sustainability and recycling program for pet food and packages in the U.K. Such developments are rapidly bolstering the global pet care market.
Future Market Insights, provides an unbiased analysis of the global pet care market in its new offering, giving historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Pet Care market based on service [product (pet food, pet healthcare, and pet breeding and training), professional service (day care, grooming/ boarding, and pet breeding and training), and value added service (insurance, veterinary care, pharmacy, adoption and charity, crisis relief service)], pet type (dog, cat, birds, fish & reptiles, and small pets), service channel (modern trade, convenience stores, care service centers, veterinary clinics, online retail and support care centers), across seven major regions.
Explore Extensive Insights on FMI's Retail and Consumer Products Landscape
Pet Insurance Market: Explore FMI's seminal pet insurance market coverage to glean insights on the potential drivers, opportunities and restraints impacting the growth trajectory across the 2019-2029 forecast period.
Natural Cosmetics Market: The natural cosmetics market research report published by FMI offers a bird's eye view of the growth dynamics across the market's prominent segments over six geographical locations until 2027.
Southeast Asia Pet Care Market: Explore FMI's seminal Southeast Asia Pet Care Market coverage to glean insights on the potential drivers, opportunities and restraints impacting the growth trajectory across the 2014-2020 forecast period.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Mr. Abhishek Budholiya Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates MARKET ACCESS DMCC Initiative For Sales Enquiries: [email protected] For Media Enquiries: [email protected]