Pet Market (Purchasing of Pets) to Register 7.5% CAGR through 2032 Amid Rising Pet Adoption and Pet Ownerships - Future Market Insights, Inc.

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Aug 17, 2022, 08:30 ET

The male pets segment is expected to account for the largest share of the global pet market. Growing Trend of Pet Humanization and Premiumization Creating Favourable Environment for Pet Market. The leading players in pet market (purchasing of pets) are Petco, Pet finder, PetSmart, Pet mate, and Petco Foundation.

NEWARK, Del., Aug. 17, 2022 /PRNewswire/ -- As per a recent market analysis by Future Market Insights (FMI), the pet market (purchasing of pets) is set to reach a valuation of US$ 16,607.2 Mn in 2022. Sales are projected to increase at 7.5 % CAGR during the forecast period (2022-2032), driving total market valuation to US$ 34,140.7 Mn by 2032.

Surge in pet adoption and ownership due to rapid urbanization, increasing disposable income, and health reasons is pushing the sales of pets in the global market. Pets are currently owned by 70% to 8% percent of homes.

Similarly, growing trend of humanization along with easy availability of pets through online sales channels and expansion of pet grooming and pet care markets is expected to boost market growth during the forecast period.

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A growing number of people treat their pets like family members, choosing food and treats depending on their pets' dietary limitations or their own values and diet regimens, such as veganism.

Key Takeaways from the Pet Market (Purchasing of Pets) Study:

By pets' type, dogs and cats' segments currently form the largest share of the global pet market and the trend is likely to continue during the forecast period.
Based on gender, male segment is likely to be most remunerative in the global pet market over the assessment period.
Argentina holds a significant share of the global pet market (purchasing of pets).
Demand for pets in Australia is anticipated to rise at a robust pace during the next decade.
With rising consumer inclination towards adopting pets, the U.S, will continue to dominate North American pet market (purchasing of pets) during the forecast period.

"Rapid urbanization and rise of pet humanization have boosted triggered pet adoption and ownership, thereby creating chances to improve profitability in the market"- says the FMI Analyst

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Who is Winning?

Leading suppliers in pet market (purchasing of pets) are focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the pet market (purchasing of pets).

Major players present in the pet market:

PetSmart
Petco
Petland
Petmate
Petfinder
Adoptapet.com
The Shelter Pet Project
Best Friends Animal Society
Petco Foundation
Petango
Others

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global pet market (Purchasing of pets), presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the Pet Market (purchasing of pets) based on Pet Type (Dogs, Cats, Birds, Fishes), Price Range (Economy and Premium), Sales Channel (Online, Offline), & Region for 2022-2032

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Market By Category

By Pets Type:

Dogs
Cats
Others

By Price Range:

Premium
Economy

By Gender:

Male
Female

By Sales Channels:

Online Retailers
Offline
Other Sales Channel

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter's Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

4. Global Pet Market (Pet Purchasing Market) Analysis 2017-2021 and Forecast, 2022-2032

4.1. Historical Market Size Value (US$ Mn) & Volume (Mn Units) Analysis, 2017-2021

4.2. Current and Future Market Size Value (US$ Mn) & Volume (Mn Units) Projections, 2022-2032

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

TOC continued..!

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Pet Toys Market Trends : The global pet toys market is expected to witness a CAGR of 7.2% during the forecast period 2021-2031. As per Future Market Insights, the global pet toys market valuation is around US$ 2,552.1 million in 2021

Pet Furniture Market Outlook : The global pet furniture market is estimated to be valued at US$ 1.8 Bn in 2022 and is projected to reach US$ 3.1 Bn by 2032. The market is anticipated to exhibit growth at a CAGR of 5.8% from 2022 to 2032.

Pet Stain Remover and Odour Control Market Share : The global pet stain remover and odour control market is estimated at US$ 8.4 Bn in 2022 and is projected to reach US$ 12.0 Bn by 2032, at a CAGR of 3.6% from 2022 to 2032

Pet Monitoring Camera Market : The global pet monitoring camera market size is estimated at US$ 54.3 Mn in 2022 and is projected to reach US$ 93.5 Mn by 2032, exhibiting a CAGR of 5.5% between 2022 to 2032

Pet Car Seat Market : The pet car seat market is estimated to reach a valuation of ~US$ 2.8 Bn in 2022 and is projected to surpass US$ 5.0 Bn by 2032, at a CAGR of 4.7% from 2022 to 2032

Pet Lodging Market : The pet lodging market size is estimated to be valued at US$ 3.1 Billion in 2022 and is projected to reach US$ 5.0 Billion by 2032, expanding at a CAGR of 5% from 2022 to 2032

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Report: https://www.futuremarketinsights.com/reports/pet-market
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