Pet Care Market to grow by USD 98.4 Billion from 2024-2028, driven by rising pet ownership, Report on the AI impact on market trends - Technavio

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global pet care market size is estimated to grow by USD 98.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.44% during the forecast period. Increasing pet ownership is driving market growth, with a trend towards popularity of pet fashion among owners. However, increasing competition for pet care products globally poses a challenge. Key market players include ABP Food Group Ltd., Agrolimen SA, Aller Petfood Group AS, Ancol Pet Products Ltd., Beaphar Beheer BV, Champion Petfoods Holding Inc., Colgate Palmolive Co., Doskocil Manufacturing Co. Inc., General Mills Inc., heristo aktiengesellschaft, Mars Inc., Monge and C Spa, Nestle SA, Pets Choice Ltd., saturn petcare gmbh, Schell and Kampeter Inc., Tail Blazers, The J.M Smucker Co., Unicharm Corp., and United Petfood Producers NV.

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Market Driver

The pet care market is thriving with a focus on little pets like cats and dogs. Pet sector growth is driven by increasing pet ownership, especially in urban areas like flats and apartments. Pet care products, including feeders, bowls, and waterers, are in high demand. Internet purchases dominate, with pet shelters and adoptions also popular. Pet health issues, such as anxiety, stress, depression, and loneliness, are addressed through sustainable and eco-friendly pet accessories made from recyclable materials. Neo Bites offers quality pet food with meat, grains, cereals, vitamins, and minerals. Pet health concerns include abdominal pain, diarrhea, and animal-borne diseases. Pet grooming and hygiene, veterinary care, location tracker devices, and pet advocacy networks are essential. Reptiles, turtles, freshwater and saltwater fishes, birds, horses, and small animals also have their markets. Restraining factors include pet care industry lifestyle upgrades and ecological footprint concerns. Pet furniture, exercise, and pet care industry growth continue to shape the market landscape. 

The pet care market experiences significant growth due to the increasing spending by affluent pet owners on luxurious and fashionable products for their pets. Competitors in the market respond by introducing an array of stylish grooming and accessory offerings. These products, available in various sizes, colors, raw materials, and designs, cater to a broader customer base. Examples include rhinestone and solitaire collars for cats and dogs, bow tie collars, studded fox leather leashes, funky apparel, raincoats, winter coats, and scarfs. These fashionable items not only enhance the appearance of pets but also boost demand in the global pet care market. 

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Market Challenges

• The pet care market encompasses various species, including little pets like hamsters, cats, and dogs. Pet sector growth is driven by increasing pet ownership, particularly in urban areas with flats and apartments. Pet care products, such as feeders, bowls, waterers, and pet accessories, are in high demand. Internet purchases dominate, with pet shelters and adoptions, fostering, and pet health issues also significant factors. Neo Bites addresses anxiety, stress, depression, and loneliness in pets. Sustainable materials and recyclable products are essential for eco-conscious pet owners. Pet health issues, including abdominal pain and diarrhea, necessitate high-quality pet food, home delivery services, and online stores. Grooming products, veterinary care, location tracker devices, and the Pet Advocacy Network are crucial for pet care. Restraining factors include animal-borne diseases and the cost of pet care. The pet care industry offers lifestyle upgrades, with pet furniture, exercise, and pet-friendly lawns and porches catering to diverse pet needs. Pet stores and supermarkets provide a wide range of offerings, including meat, grains, cereals, vitamins, and minerals for various pets, such as reptiles, turtles, freshwater & saltwater fishes, birds, horses, and small animals. Clean labeling is essential for pet food, and the pet care industry continues to innovate with new products and services.
• The global pet care market is a competitive landscape with numerous companies offering various products and services. New players can easily enter the market through e-commerce platforms, intensifying competition. Established brands face challenges in differentiating themselves and maintaining market share. Businesses must invest in research, marketing, and branding to create innovative pet care solutions that cater to evolving consumer needs. Additionally, addressing supply chain and logistical challenges is crucial for success in this competitive market.

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Segment Overview 

This pet care market report extensively covers market segmentation by

• 1.1 Dogs
• 1.2 Cats
• 1.3 Others

• 2.1 Food
• 2.2 Accessories
• 2.3 Grooming

• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Dogs- The global pet care market is a flourishing industry, with dogs being a major segment. This market caters to various categories within the dog segment, such as food, grooming, healthcare, and accessories. Dogs are the most popular pets, providing companionship, reducing loneliness, and promoting physical activity. Parents often buy dogs to teach children responsibility, kindness, and sharing. Elderly individuals find dogs as valuable companions when family members live elsewhere. Working couples ensure their pets' health with dog-care supplies. Those residing in apartments appreciate pet furniture. The demand for pet dogs is increasing, driving growth in the dogs segment of the pet care market.

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Research Analysis

The pet care market is a thriving industry that caters to the needs of various little pets, including cats and dogs. Pet sector growth is driven by increasing pet ownership, with an estimated 67% of U.S. Households owning a pet. Pet care products range from essentials like feeders, bowls, and waterers, to lifestyle upgrades like pet furniture and accessories. Sustainability is a growing concern in the pet industry, with companies offering eco-friendly options such as sustainable materials and recyclable packaging. Neo Bites, for instance, provides biodegradable pet food packaging. Pet health issues like anxiety, stress, depression, and loneliness are also addressed through innovative products and services. Pet shelters, adoptions, and fostering programs continue to play a crucial role in the pet care sector, ensuring the welfare of animals in need. Exercise is essential for pets' physical and mental wellbeing, making pet care an integral part of their daily routine.

Market Research Overview

The pet care market encompasses a wide range of products and services for cats, dogs, and various other little pets. This sector caters to the growing number of pet owners who consider their companions as family members, leading to an increase in demand for high-quality pet food, feeders, bowls, waterers, and other essential pet care products. The internet has revolutionized pet ownership with online purchases, pet shelters, adoptions, and fostering programs. Pet health issues, anxiety, stress, depression, and loneliness are addressed through innovative products like Neo Bites and pet care industry advancements. Sustainable materials and recyclable products are becoming increasingly popular, with eco-conscious pet accessories and pet furniture. The pet sector includes a diverse range of animals, from reptiles and turtles to freshwater and saltwater fishes, birds, horses, and small animals. Pet stores, supermarkets, and online stores offer a variety of options, including meat, grains, cereals, vitamins, and minerals for pets. The pet care industry continues to evolve, with home delivery services, clean labeling, grooming products, veterinary care, location tracker devices, and pet advocacy networks. However, there are also restraining factors such as animal-borne diseases, abdominal pain, and diarrhea that require ongoing attention and innovation.

Table of Contents:

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

• Application
• Dogs
• Cats
• Others
• Product
• Food
• Accessories
• Grooming
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

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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