Pet Care Market to grow by USD 98.4 Billion from 2024-2028, driven by rising pet ownership, Report on the AI impact on market trends - Technavio

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global pet care market size is estimated to grow by USD 98.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.44% during the forecast period. Increasing pet ownership is driving market growth, with a trend towards popularity of pet fashion among owners. However, increasing competition for pet care products globally poses a challenge. Key market players include ABP Food Group Ltd., Agrolimen SA, Aller Petfood Group AS, Ancol Pet Products Ltd., Beaphar Beheer BV, Champion Petfoods Holding Inc., Colgate Palmolive Co., Doskocil Manufacturing Co. Inc., General Mills Inc., heristo aktiengesellschaft, Mars Inc., Monge and C Spa, Nestle SA, Pets Choice Ltd., saturn petcare gmbh, Schell and Kampeter Inc., Tail Blazers, The J.M Smucker Co., Unicharm Corp., and United Petfood Producers NV.

Technavio has announced its latest market research report titled Global pet care market 2024-2028
Technavio has announced its latest market research report titled Global pet care market 2024-2028

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Pet Care Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.44%

Market growth 2024-2028

USD 98.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.41

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 43%

Key countries

US, China, Germany, UK, and France

Key companies profiled

ABP Food Group Ltd., Agrolimen SA, Aller Petfood Group AS, Ancol Pet Products Ltd., Beaphar Beheer BV, Champion Petfoods Holding Inc., Colgate Palmolive Co., Doskocil Manufacturing Co. Inc., General Mills Inc., heristo aktiengesellschaft, Mars Inc., Monge and C Spa, Nestle SA, Pets Choice Ltd., saturn petcare gmbh, Schell and Kampeter Inc., Tail Blazers, The J.M Smucker Co., Unicharm Corp., and United Petfood Producers NV

Market Driver

The pet care market is thriving with a focus on little pets like cats and dogs. Pet sector growth is driven by increasing pet ownership, especially in urban areas like flats and apartments. Pet care products, including feeders, bowls, and waterers, are in high demand. Internet purchases dominate, with pet shelters and adoptions also popular. Pet health issues, such as anxiety, stress, depression, and loneliness, are addressed through sustainable and eco-friendly pet accessories made from recyclable materials. Neo Bites offers quality pet food with meat, grains, cereals, vitamins, and minerals. Pet health concerns include abdominal pain, diarrhea, and animal-borne diseases. Pet grooming and hygiene, veterinary care, location tracker devices, and pet advocacy networks are essential. Reptiles, turtles, freshwater and saltwater fishes, birds, horses, and small animals also have their markets. Restraining factors include pet care industry lifestyle upgrades and ecological footprint concerns. Pet furniture, exercise, and pet care industry growth continue to shape the market landscape.