Global Pet Care Market - Focused Insights 2024-2029

MARKET INSIGHTS

The global pet care market was valued at USD 226.92 billion in 2023 and is projected to reach USD 340.71 billion by 2029, growing at a cagr of 7.01% during the forecast period. The market is experiencing robust growth, driven by increasing pet ownership, rising disposable incomes, and a growing awareness of pet health and wellness. This growth is particularly notable in emerging markets in Asia and Latin America. Leading global companies such as Mars Petcare, Nestlé Purina, Hill's Pet Nutrition, and Royal Canin dominate the market. These companies have extensive product portfolios and strong brand recognition, allowing them to maintain significant market shares.

Technology in pet care, such as smart pet products, wearable devices, and telehealth services, is a global trend. These innovations enhance pet care's convenience and effectiveness, appealing to tech-savvy consumers worldwide. There is a growing demand for sustainable and eco-friendly pet care products globally. Consumers increasingly seek environmentally friendly products, including biodegradable waste bags, sustainable food, and eco-friendly toys. E-commerce has transformed the global pet care market, making it easier for consumers to access a wide range of products. Online platforms have become crucial in reaching a broader audience and providing convenience to pet owners.

MARKET TRENDS & DRIVERS

Increasing Mobile Pet Grooming Services & Enrolment For Grooming And Expos

The global pet care market is witnessing a significant uptick in mobile pet grooming services and participation in grooming expos. Mobile grooming services offer unparalleled convenience by bringing professional grooming directly to the pet owner's home, alleviating the stress and logistical challenges of transporting pets to grooming salons. These services are particularly beneficial for pets who experience anxiety or stress in unfamiliar environments, as the home setting provides a more comfortable and familiar atmosphere. Mobile grooming vans have state-of-the-art grooming tools and amenities, allowing groomers to deliver high-quality services comparable to those found in traditional salons. This trend is also reflected in the growing enrolment in grooming expos and training programs, which provide platforms for professional groomers to enhance their skills, network with peers, and stay updated on the latest industry innovations. For instance, companies like PetSmart and Wag’n Tails are expanding their mobile grooming fleets, responding to the rising consumer demand for at-home pet care solutions. Events such as Groom Expo West and Intergroom attract thousands of professionals and enthusiasts, highlighting the burgeoning interest in pet grooming education and innovation.

Increasing Technological Integration

Technological advancements are revolutionizing the pet care industry, integrating many innovations that enhance pet safety, health monitoring, and overall care. Smart collars, health monitoring apps, pet cameras, and automated feeders are becoming essential for modern pet owners. These technologies allow owners to track their pets' location, monitor their health and activity levels, and even interact with them remotely, ensuring that pets receive consistent care and attention even when their owners are away. For example, the Fi Smart Dog Collar provides real-time GPS tracking and activity monitoring, alerting owners if their pet leaves a designated safe area, thus preventing potential accidents or loss. Additionally, apps like Petcube enable owners to engage with their pets through interactive cameras and treat dispensers, allowing them to play with and monitor their pets from anywhere. This technological integration enhances the quality of pet care and provides peace of mind to pet owners, knowing they can always stay connected to their pets. Furthermore, innovations such as automated feeders and water dispensers ensure that pets have access to food and water on a regular schedule, promoting better health and well-being.

Rise in Pet Ownership

The rise in pet ownership is a significant driver of growth in the global pet care market. This increase can be attributed to various factors, including changing social dynamics, increased urbanization, and the growing recognition of the benefits of pet companionship. More households welcome pets as integral family members, driven by the desire for companionship, emotional support, and the health benefits of pet ownership. Pets are known to reduce stress, increase physical activity, and provide emotional comfort, making them popular among individuals and families seeking to enhance their quality of life. The COVID-19 pandemic also boosted pet ownership as people sought companionship and emotional support during extended periods of isolation and remote work. This rise in pet ownership has increased demand for a wide range of products and services, including food, grooming, veterinary care, and accessories. Companies like Mars Petcare and Nestlé Purina PetCare have seen significant market growth, reflecting the expanding customer base driven by higher pet ownership rates globally.

INDUSTRY RESTRAINTS

Skilled Labor Shortage

The pet care market faces a notable skilled labor shortage, which impacts the quality and availability of services such as grooming, veterinary care, and training. The demand for experienced and qualified professionals in these areas often exceeds supply, leading to longer service wait times and increased pressure on existing staff. This shortage is exacerbated by the specialized skills required in the industry, including knowledge of animal behavior, health, and proper handling techniques. For instance, the grooming sector faces challenges in recruiting trained groomers who can handle various breeds and styles. Companies like Banfield Pet Hospital and VCA Animal Hospitals have invested in training programs and partnerships with veterinary schools to address this shortage, but the gap remains significant. The skilled labor shortage affects service delivery employee retention and job satisfaction, as overworked staff may experience burnout and high turnover rates.

SEGMENT ANALYSIS

INSIGHT BY PRODUCT

The global pet care market by product type is segmented into food, toys & clothing, housing & bedding, pet hygiene & care products, and others. The pet food segment dominates and has the largest market share. The market is driven by the fundamental necessity of providing proper pet nutrition. Major companies like Mars Petcare, Nestlé Purina, and Hill's Pet Nutrition dominate this market. There is a growing trend towards premium, organic, and specialized diets catering to specific health needs, such as grain-free, high-protein, and healthy diets. Dry pet food remains a staple in the pet care market due to its convenience, long shelf life, and cost-effectiveness. Brands like Purina, Hill's, and Royal Canin dominate this segment, offering a wide range of dry food products. The segment is witnessing innovation by introducing high-protein, grain-free, and specialized diet options that cater to pets with specific health needs. Blue Buffalo and Wellness are notable brands providing premium dry food products. Dry food is favored for its ease of storage and ability to be left out for pets to graze on throughout the day, making it a popular choice among busy pet owners.

INSIGHT BY PET SERVICES

The global pet care market by product type is segmented into grooming, boarding, and others. The pet grooming segment is experiencing robust growth, with the fastest-growing CAGR during the forecast period. The growth is due to increasing pet ownership and the rising trend of pet humanization. Pet owners seek professional grooming services to ensure their pets' health, hygiene, and appearance. Companies like PetSmart and Groomingdales provide comprehensive grooming services, including bathing, haircuts, nail trimming, and ear cleaning. Bathing and drying services are fundamental components of pet grooming, with high demand from pet owners seeking to maintain their pets' cleanliness and hygiene. Companies like Petco and PetSmart offer these services as standard in their grooming packages. This service is required more frequently than other grooming services, driving consistent business for grooming salons. The regular need for bath and dry services ensures steady business revenue streams. Advanced equipment, such as high-velocity dryers and hydrotherapy baths, enhance the efficiency and quality of bath and dry services. Barkbus integrates modern grooming tools to provide superior bath and dry experiences at clients' homes.

INSIGHT BY PET

The dog market segment dominates and has the largest global pet care market share based on pet type. The segmental growth is due to the availability of a wide range of products and services tailored to their needs. This includes food, toys, grooming supplies, healthcare products, and accessories. Leading brands like Purina, Hill's, and Blue Buffalo offer extensive product lines for dogs. The market is witnessing a growing trend towards premium and specialized dog products, including organic and natural foods, high-quality toys, and advanced healthcare solutions. Companies like Wellness and Orijen are known for their premium dog food products. This segment emphasizes tailored product formulations and specialized services designed to address the specific requirements of different pets, fostering a market environment that values inclusivity and comprehensive care. As pet ownership grows globally across various demographics and lifestyles, the market is poised for continued innovation and expansion to meet pet owners' evolving preferences and expectations worldwide.

INSIGHT BY DISTRIBUTION CHANNEL

The global pet care market by product type is segmented into offline and online. The online segment shows significant growth, with the fastest-growing CAGR during the forecast period. The distribution landscape of the global pet care market is evolving with a notable shift towards online platforms and e-commerce channels. Increasingly tech-savvy consumers favor the convenience of purchasing pet products online, driven by a wide selection, competitive pricing, and doorstep delivery options. Traditional retail outlets, including pet stores, veterinary clinics, and supermarkets, remain vital, offering personalized service and immediate product availability. The omnichannel approach, blending online convenience with in-store experiences, is becoming increasingly prevalent as brands seek to reach and engage with a broader audience of pet owners globally.

GEOGRAPHICAL LANDSCAPE

The global pet care market exhibits diverse regional dynamics reflecting consumer preferences and market maturity levels. North America is the largest global pet care industry market, driven by high pet ownership rates and significant spending on pet care products and services. This growth is fueled by an Increasing focus on pet health and wellness, premiumization of pet products, and the humanization of pets. Pet ownership demographics in North America are diverse, with millennials and Generation Z emerging as key consumer segments. These younger pet owners spend more on premium products and services, focusing on their pets' health, wellness, and overall lifestyle. Additionally, the trend of smaller household sizes and increasing urbanization contributes to the demand for pet care services like dog walking, grooming, and boarding.

Europe emphasizes sustainability, focusing on natural and eco-friendly pet products, driven by a growing market for organic pet foods and biodegradable accessories. Europe represents a significant global pet care industry market, characterized by a growing population of pet owners and increasing expenditures on pet-related products and services. Countries like Germany, the UK, France, and Italy are among the largest markets within Europe, each contributing to the region's overall growth.

COMPETITIVE LANDSCAPE

The global pet care market report consists of exclusive data on 48 vendors. The market is fiercely competitive, featuring major players like Nestlé Purina, Mars, Hill's Pet Nutrition, Blue Buffalo, J.M. Smucker Company, PetSmart, Petco, A Place for Rover, Chewy, and Ancol Pet Products, dominating extensive product ranges and global reach. These companies lead in pet food, treats, and healthcare products, leveraging strong brand equity and innovation. Regional and niche brands also thrive, offering specialized products tailored to local preferences. In pet services, companies like PetSmart and Petco compete with independent groomers and boarding facilities, focusing on personalized customer service and convenience. E-commerce platforms like Amazon and Chewy are pivotal, offering broad product selections and efficient delivery. At the same time, traditional retail outlets remain crucial for immediate access and expert advice on pet care.