As per a recent market analysis by Future Market Insights (FMI), the pet market (purchasing of pets) is set to reach a valuation of US$ 16,607.2 Mn in 2022. Sales are projected to increase at 7.5 % CAGR during the forecast period (2022-2032), driving total market valuation to US$ 34,140.7 Mn by 2032.
Surge in pet adoption and ownership due to rapid urbanization, increasing disposable income, and health reasons is pushing the sales of pets in the global market. Pets are currently owned by 70% to 8% percent of homes.
Similarly, growing trend of humanization along with easy availability of pets through online sales channels and expansion of pet grooming and pet care markets is expected to boost market growth during the forecast period.
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A growing number of people treat their pets like family members, choosing food and treats depending on their pets' dietary limitations or their own values and diet regimens, such as veganism.
Key Takeaways from the Pet Market (Purchasing of Pets) Study:
- By pets' type, dogs and cats' segments currently form the largest share of the global pet market and the trend is likely to continue during the forecast period.
- Based on gender, male segment is likely to be most remunerative in the global pet market over the assessment period.
- Argentina holds a significant share of the global pet market (purchasing of pets).
- Demand for pets in Australia is anticipated to rise at a robust pace during the next decade.
- With rising consumer inclination towards adopting pets, the U.S, will continue to dominate North American pet market (purchasing of pets) during the forecast period.
"Rapid urbanization and rise of pet humanization have boosted triggered pet adoption and ownership, thereby creating chances to improve profitability in the market"- says the FMI Analyst
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Who is Winning?
Leading suppliers in pet market (purchasing of pets) are focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the pet market (purchasing of pets).
Major players present in the pet market:
- PetSmart
- Petco
- Petland
- Petmate
- Petfinder
- Adoptapet.com
- The Shelter Pet Project
- Best Friends Animal Society
- Petco Foundation
- Petango
- Others
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global pet market (Purchasing of pets), presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the Pet Market (purchasing of pets) based on Pet Type (Dogs, Cats, Birds, Fishes), Price Range (Economy and Premium), Sales Channel (Online, Offline), & Region for 2022-2032
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Market By Category
By Pets Type:
- Dogs
- Cats
- Others
By Price Range:
- Premium
- Economy
By Gender:
- Male
- Female
By Sales Channels:
- Online Retailers
- Offline
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter's Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
4. Global Pet Market (Pet Purchasing Market) Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Mn Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Mn Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
