Pet Accessories Market size is set to grow by USD 16.02 billion from 2024-2028, Increase in number of people owning pets and increased spending on pets to boost the market growth, Technavio

NEW YORK, June 5, 2024 /PRNewswire/ -- The global pet accessories market size is estimated to grow by USD 16.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.99%  during the forecast period. 

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Key Market Trends Fueling Growth

The pet accessories market is thriving with the introduction of smart products, including smart beds and feeders. These innovations cater to affluent customers, offering features such as weight tracking, thermostatic climate control, and automatic temperature adjustments.

Smart pet collars with inbuilt cameras and voice commands are also popular for monitoring pet activities. The market is expected to expand with the launch of new connected accessories during the forecast period. These products ensure optimal pet comfort, safety, and nutrition, making them essential investments for pet owners. 

The pet accessories market is experiencing significant growth, with various product categories gaining popularity. These include grooming tools such as brushes, shampoos, and nail clippers. Segments like pet carriers, beds, and toys are also in high demand. Technology is playing a role in the industry, with smart pet feeders and tracking devices becoming trendy.

Harnesses, leashes, and collars are essential accessories for pet owners. Dogs and cats are the primary focus, but birds, reptiles, and other pets also have a presence in the market. The market is diverse, catering to various breeds and sizes, and the trend is towards eco-friendly and sustainable products. The future looks bright for the pet accessories industry, with continuous innovation and consumer demand driving its growth. 

Market Challenges

• The pet accessories market faces challenges due to health concerns associated with pet ownership. Harmful bacteria like Campylobacter jejuni and cryptosporidiosis, transmitted through animals, pose risks to human health, particularly children. Allergens from pets, such as dander and proteins in saliva and urine, trigger allergies and asthma attacks in some individuals.
• Approximately 15%-30% of allergies and allergic rhinitis are caused by pet allergens. People with weakened immune systems and asthma are more susceptible to these allergies, limiting pet adoption and sales of pet care products.
• The pet accessories market is experiencing significant growth, with a high demand for innovative and functional products. However, challenges exist in this industry. One major challenge is ensuring the safety and durability of pet accessories, as pets can be destructive and rough on their items. Another challenge is keeping up with consumer trends and preferences, as pet owners seek eco-friendly, tech-enabled, and personalized accessories for their pets.
• Additionally, competition is fierce, making it essential for businesses to differentiate themselves through quality, customer service, and unique offerings. Closely monitoring consumer behavior and staying informed about industry trends are key to overcoming these challenges and thriving in the pet accessories market.

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Segment Overview 

1. End-user 
• 1.1 Dogs
• 1.2 Cats
• 1.3 Others
2. Product 
• 2.1 Pet toys
• 2.2 Others
3. Distribution Channel
• 3.1 Offline
• 3.2 Online
4. Geography 
• 4.1 North America
• 4.2 Europe
• 4.3 APAC
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Dogs-  The pet accessories market is primarily driven by the high ownership of dogs as pets. With dogs requiring significant space and attention, working couples in small living spaces opt for pet furniture. Apartments dwellers without gardens or porches also favor dogs due to their popularity. Additionally, the adoption of other pets like birds and rabbits is anticipated to rise, expanding the market. Vendors are responding to this trend by introducing more agility products for dogs, such as Ferplast's Toy PA 6100 and Toy PA 6542. This growing variety of offerings is expected to fuel market growth during the forecast period.

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Research Analysis

The Pet Accessories Market is experiencing significant growth due to the increasing number of pet adoptions and the focus on pet wellbeing. Pet owners are investing in a variety of accessories to ensure their pets live healthy and comfortable lives. This includes Collars, Leashes, Harnesses, Beds, Toys, Grooming supplies, Vitamins, and Organic food.

New product varieties are constantly being introduced to cater to the hygienic and odor-free needs of pets, as well as address issues such as dander, hair loss, and tangles. Pet grooming services are also gaining popularity to help maintain the overall health and appearance of pets. The market for pet accessories is expected to continue its upward trend as more and more people embrace the joys of pet ownership and prioritize their pets' lifelong health and wellbeing.

Market Research Overview

The Pet Accessories market encompasses a wide range of products designed to enhance the well-being and comfort of pets. These include collars, leashes, harnesses, pet mats, grooming tools, and various types of beds. The market also caters to the needs of pets during outdoor activities with offerings such as pet car seats, life jackets, and protective gear.

Furthermore, pet owners can choose from a variety of functional and decorative pet toys. Smart technology has also made its way into the pet accessories market, with options like automatic feeders and interactive toys. The market is driven by the growing trend of pet humanization and the increasing awareness of pet health and happiness.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Dogs
• Cats
• Others
• Product
• Pet Toys
• Others
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio