Adoption of Pets to Facilitate Growth in Global Pet Supplies Market

14/set/2020 11:09:19 Pradeep Z Contatta l'autore

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Pet supplies include foods, toys, and other accessories required to feed and engage pets for a happy life. The global pet supplies market report by Market Research Future (MRFR) has included in its report the various findings and challenges plaguing pet supply manufacturers, retailers, and others in the supply chain. It contains growth estimations for the period of 2019 to 2025 (forecast period) amid the outbreak of the COVID-19 virus and its impact and analysis on pet owners.

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The global pet supplies market has been segmented by type and distribution channel.

By type, it is segmented into beds & furniture, bowls & feeders, clothing & shoes, cleaning supplies, and others. Beds & furniture captured a large share of the market owing to the accessories offering comfort to pets. But cleaning supplies can gain a large market share due to being used on a regular basis for maintaining the health and hygiene of pets.

By distribution channel, it is divided into store-based and non-store-based. The store-based channel is expected to drive the segment growth owing to retail stores being preferred for shopping for animal needs. Specialty stores, a sub-segment of stores, can be lucrative for the market for offering experiential customer service.

Market Scope

The global Pet Supplies Market can reach a valuation of USD 38.45 billion by 2025. It is predicted to expand at a CAGR of 6.9% over the forecast period.

Awareness of pet healthcare due to adoption of pets is likely to bode favorably for the market demand. Pet care products have gained steam owing to awareness of products, the wide variety, easy availability, and product innovation in terms of taste, texture, and packaging. Rise in per capita income of consumers and their ability to expend money for their pet’s health can fuel the market growth. The sales of products are supported by the ecommerce industry which has various vendors on a common platform.

But high prices of products can hamper the market growth.

Regional Analysis

North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are regions taken into consideration with respect to the global pet supplies market.

North America held the largest market share in 2018 and will dominate the market till 2025 owing to high adoption rate of pets and inclination towards pet care. According to a survey by American Pet Products Association (APPA), there has been a hike of 56% in the numbers of households sheltering pets from 1998 to 2018 in the U.S. This can drive the demand for pet supplies numbers in Canada and the U.S.

Europe can contribute to the global pet supplies market owing to large adoption of pets, spending power of customers, and availability of new products. The effect of the COVID-19 pandemic has led to a surge in demand of products such as collars, harnesses, and food for pets. In addition, curb side delivery and pickup of products can lead to large scale ordering.

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Competition Outlook

Petland, KONG Company, Radio Systems Corporation, Sharples Pet, Akrobon, Pets Empire, Central Garden & Pet Company, Rosewood Pet Products, Ancol Pet Products, K&H Pet Products, RAC Group Limited, Pets Love Scruffs, Pet-i-tude, ZippyPaws, and Church & Dwight Co., Inc. are key players of the global pet supplies market.

Pet supplies producers are teaming up with warehouse owners to ensure minimal interruptions to the supply chain. Recently, Pet Supplies Plus has decided to collaborate with Manhattan Associates’ for catering to customer demand. The latter’s warehouse management systems can detect peaks and plateaus in demand and supply and take appropriate action in the supply chain.

Note: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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