NEW YORK, Jan. 26, 2016 /PRNewswire/ -- This research service analyses specialty ingredients used in shampoos, conditioners, sprays, and wipes in the animal grooming market. The number of pet-owning households has significantly increased in the last five years and the bond between companion animals and their owners is gaining importance; as a result, owners are willing to spend more on pets. This trend has increased the demand for grooming and pharmaceutical products that contribute significantly to the appearance, health, and well-being of the animal. North America and Europe are leaders in the global companion animal market, while China, India, and Japan are emerging countries with exponential pet industry growth.
-Specialty ingredients in the animal grooming market was worth $ Million in 2015 and is expected to grow at a Compound Annual Growth Rate (CAGR) of % from 2015 to 2020.
- The market is in the growth stage; improved earning potential of individuals and an increase in nuclear families is expected to significantly impact this growth.
- Shampoos dominate the market as a result of its stable cost structure and usage for all types of animals.
- The market is expected to be driven mainly by the growth of grooming trends for companion animals; this, in turn, propels the growth of specialty ingredients in animal grooming.
- Innovation is the key factor towards sustaining and expanding the market share for participants.
- Enhanced gloss, safety, softness, and cost effectiveness are the most important attributes that pet owners look for in animal grooming products.
- Key participants such as BASF, Solvay, and Evonik are leading, specialty-chemical manufacturers in the human personal care sector that have diversified into the animal grooming market.
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