DUBLIN–(BUSINESS WIRE)–The “Pet Accessories – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Emergence of pets as extended part of the family rather than just companion animals is driving consumer spending on pet care. Pets such as cats and dogs are known to offer comfort, companionship and support, addressing the human need for emotional connect and physical touch. Studies have demonstrated that interactions with a cat or dog reduce cortisol levels and blood pressure while improving secretion of oxytocin, dopamine and serotonin that relax the human body. Stay-at-home restrictions due to COVID-19 outbreak have presented the perfect opportunity for pet ownership and spending time with pets.
Amid the COVID-19 crisis, the global market for Pet Accessories estimated at US$29.4 Billion in the year 2020, is projected to reach a revised size of US$42.3 Billion by 2026, growing at a CAGR of 6.3% over the period. Pet Toys, one of the segments analyzed in the report, is projected to record 6.9% CAGR and reach US$19.8 Billion by the end of the analysis period.
The Pet Accessories market in the U.S. is estimated at US$12.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.6 Billion by the year 2026 trailing a CAGR of 8.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR.
Housing and bedding products designed for pets are gaining popularity specifically in developed economies of North America and Europe. Manufacturers targeting these regions are emphasizing on product innovations to provide assistance to pet owners in adopting a convenient lifestyle. On the other hand, the market for pet toys is making strong gains in both developed and developing economies. Purchases of pet toys are growing led mainly by the increasing desire of pet owners to ensure sustained activity for their pets. With safety of pets becoming a prime concern for pet owners, demand is growing for natural and organic accessories and toys.
Select Competitors (Total 167 Featured) –
- Ancol Pet Products Limited
- Cycle Dog
- Petmate (Doskocil Manufacturing Company, Inc.)
- Ferplast S.p.A.
- Honest Pet Products
- Innovation Pet, Inc.
- MidWest Homes for Pets
- Central Garden & Pet Company
- Petstages, Inc.
- Rolf C. Hagen, Inc.
- Rosewood Pet Products
- Spectrum Brands Holdings, Inc.
- Simply Fido LLC
- The Hartz Mountain Corporation
- Worldwise, Inc.
Key Topics Covered:
1. MARKET OVERVIEW
- Population of Pet Owners in China (2020): Percentage Share of People Living with Dogs, Cats, Aquatic Animals, Rodents and Reptiles
- Increase in Pet Ownership to Spur Market Growth
- Global Pet Population: Number of Dogs and Cats in Million for the Years 2018 and 2021
- Pet Facts around the World: Snapshot
- Dogs & Cats: Major Categories of Pet Accessories Market
- Global Pet Dog Population (2021): Number of Pet Dogs by Select Countries (in Million)
- Global Pet Cat Population (2021): Number of Pet Cats by Select Countries (in Million)
- Pet Toys – A Key Growth Driver for the Pet Accessories Market
- Interactive Toys Find Favor among Pet Owners
- Pet Accessories – Global Key Competitors Percentage Market Share in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Spending on Pets across Countries to Benefit Pet Accessories Market
- Pet Humanization – A Pivotal Growth Driver for Pet Accessories Market
- Rise in Preference for Natural and Environment Friendly Pet Accessories
- Sustainable Pet Products Increases in Popularity
- Premiumization Bodes Well for Market Growth
- Growing Trend of Customization in Pet Accessories
- Technological Innovations and New Product Developments Maintain Growth Momentum
- Innovations in Dog Toys
- Robotic Cameras Gain Traction
- Advent of Smart Pet Accessories: A Key Trend
- Wearable Pet Devices Witness Increasing Popularity
- Pet Dogs Used as Stress Buster in Organizations
- Pet Grooming Products Gain Increased Popularity
- Covid-19 Transforms the Pet Grooming Landscape
- All Natural, Organic, Botanical Pet Grooming Products
- Offline Distribution Leads, Online Soars in Popularity
- Pet Collars and Beds – Significant Revenue Generators
- Global Pet Care E-Commerce Market by Product Type (in %): 2020E
- Online Channels Emerge as Bright Spot
- Robopets Make Foray into the Pet Accessories Market
- Pet Shampoo Market Moves Ahead to Witness Shiny, Bright Years Ahead
- Dog Products & Commercial Segments Rule Global Pet Shampoo Market
- Pet Furniture Market Registers Rapid Growth
- Customized Pet Furniture Wins Big
- Pet Care Goes Digital
- Fashionable & Multifunctional Pet Accessories Make a Cut
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/h1gu
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