Pet Care Market was valued at US$ 233 billion in 2021 and is anticipated to increase with a CAGR of 6.2% during 2021-2026. The majority of pet owners spend more on high-quality supplies for their pets' well-being, which has increased pet-related expenses. Pet owners' purchase selections have been influenced by a move toward pet 'parenting' rather than 'ownership.'

Pet care refers to taking care of pets and is the foundation of proper pet keeping. Pet care entails taking care of a pet's food and safety, as well as exercise, nutrition, and medical attention. It is a lifelong commitment to a pet whose health and well-being are dependent on the pet parent. The pet care market has reached new heights due to the growing trend of responsible pet ownership. The torrent of pet-care goods that have flooded the market in recent years has bolstered progress. The mushrooming pet care centers in certain emerging and developed countries have also accounted for a significant portion of demand. In addition, the rise in veterinary hospitals has increased public knowledge of the medical science behind effective domestic animal care. Dogs and cats are two domesticated animals that have sought the interest of industry players and pet-care businesses.

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Market Drivers and Restraints

On a global scale, the pet care market is primarily comprised of pet food and pet health care. Moreover, in order to care for their domestic pets, pet owners most probably utilize high-quality food and innovative grooming products, which has further increased the investment capacity of the pet owners, which propels the pet care market forward. On the other hand, due to the shifting cultural and socioeconomic conditions, pet owners are rapidly growing in identifying their pets as family members, which helps to contribute to the pet care market growth globally. In addition to the aforementioned drivers, the rising disposable income of middle-class pet owners and the growing trend of nuclear families are expected to provide a solid foundation for the market's growth. One of the factors driving the market expansion for pet care goods is the growing interest in pet humanization, which is linked with a rise in demand for premiumization in pet care products.

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Market Segmentation

Pet Care Market - By Pet Type

Dog
Cat
Fish
Others
Based on pet type, the dog segment is anticipated to have the largest pet care market share during 2021-2026. Because they are obedient and sociable, dogs make excellent pets. The dog care industry is fueled by an increase in the number of dog rescue centers and healthcare for stray and ailing dogs. The most popular parts of dog care include canine food, accessories, and healthcare services. Dog owners currently employ pet food supplies to keep their dogs healthy by supplying vital nutrients based on their dogs' size, activity level, and age. Dogs form close ties with their owners and are treated as family members.

Pet Care Market - By Product Type

Pet food
Pet food care
Grooming Products
Based on product type, the pet food segment dominates the pet care market. In 2020, the revenue from the pet food segment was expected to be over USD 94.2 billion. The sector size will increase as people become more aware of the benefits of protein-rich food for improving strength and helping dogs maintain their bodily condition. Furthermore, when it comes to the contents of their pets' meals, the majority of pet parents prefer traditional meats like beef and chicken. Unique and exotic proteins, on the other hand, are expected to gain a lot of momentum.

Pet Care Market - By Distribution Channel

Stores
E-commerce
Based on distribution channels, e-commerce tends to propel the pet care market forward. In 2020, the e-commerce distribution channel maintained a 17 percent share of the pet care market. The pet care business has identified e-commerce as a possible development driver. Accessibility and the ability to choose from a larger selection on sites like Flipkart, PetPals, Amazon, Big Basket, and others will promote online sales. Furthermore, to attract more customers, e-commerce companies are implementing various techniques such as fresh pet care food selections and subscription delivery services.

Pet Care Market - By Regional Analysis

North America
Asia Pacific
Europe
Latin America
Middle East & Africa
Because of the high presence of infrastructural settings to pet retailers and veterinaries in the U.K. market, the U.K. is predicted to account for about 26.8% of the market share in Europe by 2021. This is projected to make bulk sales of pet accessories and food more convenient, boosting the market growth in this region.

Impact of COVID-19 on Pet Care Market

Covid-19 has had a negative impact on the world economy. The closure of manufacturing plants has an effect on production and demand. In addition, supply chains across various regions and imports and exports were blocked, with restrictions hurting the pet care industry's commercial operations. During the early stages of the corona crisis, panic buying and stockpiling tactics quickly emptied shelves of pet care supplies, preventing a severe decline in market sales.

Key Players

The companies covered in the report include:

Mars Incorporated
Colgate-Palmolive
Nestle SA
General Mills Inc.
The J.M. Smucker Company
heristo aktiengesellschaft
Champion Petfoods LP
The Hartz Mountain Corporation
Petmate
Tail Blazers
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