Pet Care Market to be Worth $236.16 Billion by 2030 at CAGR of 5.1%: Grand View Research, Inc.

SAN FRANCISCO, Oct. 5, 2022 /PRNewswire/ -- The global pet care market size is expected to reach USD 236.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 5.1% from 2022 to 2030. The year 2020 was not very promising for many industries, but it has been a boon to the pet care industry due to repeated lockdowns and the work-from-home culture leading people to take better care of their pets. This has stipulated the demand for pet services and products to a significant rise in the industry.

Key Industry Insights & Findings from the report:

• Based on pet type, the dog segment accounted for the largest revenue share of over 39% in 2021, due to a considerable increase in dog adoption as a result of changing lifestyles and growing knowledge of the benefits of dog companionship. Moreover, they have been shown to help with anxiety, stress, and depression, as well as loneliness, cardiovascular health, and exercise which is expected to bode well for the growth of the segment.
• Based on type, the product segment is projected to register the fastest CAGR of 5.0% from 2022 to 2030. Innovation in products such as moisturizers, creams, and lotions is likely to propel the growth. For instance, in 2021, Pure and Natural Pet, a U.S.-based pet care company launched new products to their line of pet grooming and health essentials which are USDA certified.
• North America is expected to contribute a majority of the global revenue share in 2021. During the forecast period, the rising demand for natural and premium goods is expected to drive the growth of the regional industry.

Read full market research report, "Pet Care Market Size, Share & Trends Analysis Report By Pet Type (Dog, Cat, Fish, Bird), By Type (Product, Food), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Pet Care Market Growth & Trends

Moreover, the growing awareness about pet humanization, increasing purchasing power of consumers, and a rise in the demand for premium pet care products are the factors driving the growth of the industry. Due to urbanization, people have been living in smaller residential spaces, this has however increased the adoption of smaller pets such as dogs, fish, hamsters, and cats. Consumers are looking to plug the familial gap with pet companions.

In addition, premium pet care products are natural and of higher quality, and safer than regular pet care products. With the increase in demand for premium pet grooming products globally, several companies are trying to occupy majority shares in this segment. For instance, in 2020, BASF Care Creations in North America launched 3 formulations for the dog grooming segment: Creamy Co-Wash for Dogs, Fresh Obsessed Dry Shampoo Mist, and Micellar Dog Shampoo.

According to Pet Biz Marketer, pet food makes up about 3/4s of all pet industry sales. There has been a noticeable increase in the trend of pet food brands gaining market share via niche pet foods. One of the fastest-growing niche food categories is freeze-dried dog food, it is a dog food that's freeze-dried to extend shelf life. Petfoodindustry.com reports that sales for non-traditional pet food formats are growing faster than traditional pet food.

Pet Care Market Segmentation

Grand View Research has segmented the global pet care market based on pet type, type, and region

Pet Care Market - Pet Type Outlook (Revenue, USD Million, 2017 - 2030)

• Dog
• Cat
• Fish
• Bird
• Others

Pet Care Market - Type Outlook (Revenue, USD Million, 2017 - 2030)

• Products
• Pet Litter
• Pet Grooming Products
• Fashion, Toys, and Accessories
• Food
• Dry Food
• Wet/ Canned
• Treats/ Snacks

Pet Care Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Europe
• France
• U.K.
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa

List of Key Players in the Pet Care Market

• Ancol Pet Products Limited
• Blue Buffalo Co., Ltd.
• Champion Petfoods LP
• Hill`s Pet Nutrition, Inc.
• Mars, Incorporated
• Nestle Purina PetCare
• Petmate Holdings Co
• Saturn Petcare GmbH
• Tail Blazers
• The Hartz Mountain Corporation

Check out more related studies published by Grand View Research:

• Inflatable Pet Collar Market - The global inflatable pet collars market size is expected to reach USD 107.2 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% from 2020 to 2027. Rising pet adoption, coupled with higher consumer spending on pets, is driving the demand for pet welfare products, thereby boosting the market growth. Negative impositions of e-collars on pet animals regarding self-trauma, discomfort, and misadventure are also paving the way for higher adoption of inflatable pet collars in case of injuries.
• Pet Furniture Market - The global pet furniture market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 5.2% over the forecast period. Rising spending on domestic animal, along with rapid expansion of multi-utility furniture product forms, is expected to remain the key driving factor.
• U.S. Surgical Pet Collar Market - The U.S. surgical pet collar market size is anticipated to reach USD 219.0 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Rising healthcare expenditure on domestic animals, growing demand for insurance, and an increase in the rate of pet adoption are anticipated to propel the growth of the market.

Browse through Grand View Research's Homecare & Decor Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc