Pet Care Market size

Industry Trends

Pet Care Market size was valued at over USD 232.3 billion in 2020 and is projected to expand at 6.1% CAGR from 2021 to 2027. Technological advancements that are making grooming, training facilities and boarding accessible to the owners and also assist in tracking pets are expected to uplift the market growth.  However, lack of awareness pertaining to these services in the emerging countries may impede the market expansion. In addition, with the saturation of the markets in North America and Europe, Asia Pacific is poised to witness the entry of some international brands. This establishment will further drive the market revenue.\

Rising urbanization will emerge as the centrepiece for the acceptance of dogs

The dogs segment held a market share of around 41% and exceeded USD 96.5 billion in 2020 led by several factors including rise in the number of nuclear families, growing urbanization and changing perceptions towards pets. According to a news article, in 2019, key opinion leaders have stated that countries such as India and China will observe significant adoption of dog in the coming years owing to the lifestyle changes and surging awareness pertaining to dog’s companionship.

https://www.gminsights.com/industry-analysis/pet-care-market