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 global pet care market is experiencing robust growth, fueled by increasing pet ownership, rising disposable incomes, and heightened awareness of pet health and wellness. This growth is particularly pronounced in emerging markets across Asia and Latin America. Dominant players, including Mars Petcare, Nestlé Purina, Hill's Pet Nutrition, and Royal Canin, maintain significant market shares through extensive product portfolios and strong brand recognition. Technological advancements, such as smart pet products, wearable devices, and telehealth services, are transforming pet care globally, enhancing convenience and effectiveness for tech-savvy consumers. There is a growing global demand for sustainable and eco-friendly pet care products, with consumers increasingly seeking biodegradable waste bags, sustainable food, and eco-friendly toys. E-commerce has revolutionized the pet care market, providing convenient access to a wide range of products and enabling companies to reach a broader audience.

MARKET TRENDS & DRIVERS

Increasing Mobile Pet Grooming Services & Enrolment For Grooming And Expos

The pet grooming sector is expanding with increased use of mobile services and attendance at industry expos. Mobile grooming provides at-home convenience, reduces pet stress, and maintains salon-quality standards. Grooming expos offer professionals education and networking. This growth is evidenced by companies expanding mobile fleets and popular industry events.

Growing Technological Integration

The pet care industry is being revolutionized by technological innovations that improve pet safety, health monitoring, and overall care. Modern pet owners are increasingly relying on smart collars, health monitoring apps, pet cameras, and automated feeders. These tools offer real-time location tracking, health and activity level monitoring, and remote interaction, ensuring pets receive consistent care and attention. The Fi Smart Dog Collar, for example, provides GPS tracking and alerts to prevent pet escapes, while Petcube allows for remote interaction through interactive cameras and treat dispensers. Automated feeders and water dispensers ensure timely access to food and water, enhancing pet well-being. This technological integration provides pet owners with peace of mind and elevates the standard of pet care.

Growth in Pet Ownership

The global pet care market is experiencing substantial growth, primarily driven by a significant increase in pet ownership. This trend is fueled by evolving social dynamics, increased urbanization, and the growing recognition of the positive impacts of pet companionship. The integration of pets into households as valued family members is driven by the desire for companionship, emotional support, and the health benefits associated with pet ownership. Pets are known to reduce stress, promote physical activity, and provide emotional comfort, thereby enhancing the quality of life. The COVID-19 pandemic further accelerated pet adoption, as individuals sought companionship and emotional support during periods of isolation and remote work. This surge in pet ownership has resulted in a heightened demand for a wide array of pet-related products and services, including food, grooming, veterinary care, and accessories, leading to significant market growth for companies like Mars Petcare and Nestlé Purina PetCare.

INDUSTRY RESTRAINTS

Shortage of Skilled Labor

The pet care market is grappling with a critical skilled labor shortage, which directly affects the quality and accessibility of essential services like grooming, veterinary care, and training. The demand for experienced professionals consistently surpasses the available supply, leading to prolonged service delays and heightened pressure on existing staff. For instance, the grooming industry faces significant recruitment challenges in finding qualified groomers proficient in handling various breeds and grooming styles. While companies such as Banfield Pet Hospital and VCA Animal Hospitals have implemented training programs and strategic partnerships with veterinary institutions to address this issue, the labor gap remains substantial. Furthermore, this shortage adversely affects service delivery, employee retention, and overall job satisfaction, as staff burnout and turnover rates increase due to excessive workloads.

GLOBAL PET CARE MARKET INSIGHTS

• By Product: The pet food segment holds the largest share of the global pet care market, fueled by the necessity of proper nutrition. Major companies drive this market, with a growing demand for premium, organic, and specialized diets. Dry pet food remains a market staple due to its convenience and cost-effectiveness, with brands like Purina and Royal Canin offering diverse, health-focused options.
• Pet Services: The pet grooming segment is rapidly expanding due to rising pet ownership and humanization trends. Essential services like bathing and drying drive consistent business, with companies like Petco and PetSmart offering comprehensive grooming packages. Advanced equipment, including mobile options like Barkbus, enhances service quality.
• By Pet: The dog segment holds the largest share of the global pet care market, driven by a wide range of specialized products and services. Brands like Purina and Hill's offer diverse options, and premium, organic products are increasingly popular. Global pet ownership growth fuels ongoing innovation.
• By Distribution Channel: The online segment of the pet care market is experiencing the fastest growth due to consumer preference for e-commerce convenience. Traditional retail remains relevant, but brands are increasingly adopting an omnichannel strategy to reach more pet owners. 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

North America dominates the global pet care market, fueled by high pet ownership and spending, with a focus on pet health and premium products. Millennials and Gen Z significantly contribute to this growth. Europe, a substantial market, prioritizes sustainability, with a rising demand for organic and eco-friendly pet products. Key European markets include Germany, the UK, France, and Italy.

COMPETITIVE LANDSCAPE

"The global pet care market report details 48 vendors in a fiercely competitive landscape. Major players like Nestlé Purina and Mars dominate with extensive product ranges and global reach, leading in food, treats, and healthcare. Regional and niche brands offer specialized products. Pet services see competition between large retailers and independents, focusing on personalized service. E-commerce platforms like Amazon and Chewy are key, while traditional retail remains vital for immediate access and expert advice."