PET CARE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The pet humanization trend positively influences market growth, with more than 90% of people considering pets to be part of their family according to Pets International. This is further fueled by the pandemic, as more owners have brought a pet to their home due to isolation and pandemic restrictions across the world. Along with pet food and pet grooming products, demand for other pet care products such as activity tracking collars has risen in the recent past, especially from the millennial or Gen Y generation to measure their pet's agility and to play sports. For example, around 100,000 dogs in the United Kingdom have now been fitted with activity monitoring devices according to PitPat, a leading manufacturer of dog activity monitors.

Furthermore, the popularity of pet fashion among pet owners has a positive impact on the market and is expected to contribute to significant growth during the forecast period. Some pet owners are very particular about representing their lifestyles by spending on comfortable and luxurious products for their pets encouraging many market competitors to launch new and customized products in the pet grooming service segment. Due to all these factors, pet care products have become dominant sectors in the pet industry. For instance, According to America Pet Products Association, the pet care market accounts for over 50% of America pet industry sales with over USD 64 billion in 2021. Therefore, the pet humanization trend is supporting along with rising investments in R&D are anticipated to drive the market growth in coming years. 

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