Pet Care Products Market Headed for Growth and Global Expansion by 2025
Pet care products includes items used for maintaining a healthy life for pets. These includes food products and supplements among others. Increasing number of people adopting and buying pets is expected to be a major factor driving growth of the market. Pet owners are increasingly focusing on specialized diets, due to rising dietary recommendations by vets and to maintain health of their pets. Therefore, various manufacturers in the market are focusing on offering specialized pet care products, for instance, Farmina, with its N&D product line provides all-natural products such as chicken & pomegranate puppy mini & medium, chicken & pomegranate adult maxi, fish & orange adult mini and others. These products are GMO-free, gluten-free, and are rich in high-quality vitamins, thus ensuring a high-quality specialized food diet for pets.
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Some of the major driving factors for growth of the pet care products market are increasing awareness of pet ownership, rising focus of owners on weight management of the pets, and increasing demand for ancillary pet products. One of the major concern of pet owners is obesity of their pet, which is expected to boost demand for therapeutic products for dogs, cats, and other pets. In India, Scientific Remedies introduced the world’s first therapeutic pet food, Hill’s, which deals with nutritional management of the animals. According to the Association for Pet Obesity Prevention, 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016, which is expected to increase sales of therapeutic dog and cat food, and calorie-controlled products. According to the Association for Pet Obesity Prevention, the sales in North America for therapeutic product grew by almost 20% from 2012 to 2017. Other factors such as pet owners spending on ancillary pet products such as shampoos, pet spa, pet accessories, and other products is expected to fuel growth of the pet care products market. According to the American Feed Industry Association, the global spending on pet care in 2016 was valued at over US$ 100 billion and is expected to increase significantly, in the near future with growing diet controlled pet foods and hygiene.
The pet care products market is also expected to be driven by various technological innovation in the pet care products industry. For instance, PetPartner CRM is a mobile application, which connects to various vet clinics for appointments, reminders, track medications, pet insurance, and buy food and medications. Other application such as VetOnDemand provide assistant and support for consulting purpose to help assess the severity of the symptoms the pet is experiencing. The American Veterinary Medical Association introduced a Human-Animal Bond certification, which allows owner to get practical advice on how to ensure good bonds are built that could aid in reducing stress and anxiety, lower blood pressure, and others. Various trackers are developed by manufacturers, which allows owners to monitor their pets, when out of sight. For instance, in 2012, Petcube, Inc. introduced various products such as pet cube bites, pet cube play, pet cube care, and others, which allows the owner to look after their pet even when away from home and also aids in interaction with their pets.
The litter box, which is also known as sandbox, litter tray, litter pan, or cat box, is used for collecting indoor feces and urine of cats, rabbits, ferrets, small dogs such as Beagles and Chihuahuas, and other pets. The cat litter segment is expected to exhibit high growth over the forecast period. Various cat litters are available in the market such as clay cat litter, silica cat litter, and biodegradable cat litters. Consumer awareness towards eco-friendly products is expected to fuel demand for biodegradable cat litters, which consist of cedar, sawdust, pine, corn, beet pulp, soybean, wheat, and recycled paper products that can be incinerated, composted, and used as mulch. For instance, Draynecs BVBA, a company from Belgium, introduced Clumping Vegetal Catlitter, which is made from organic cereal-based fiber with high odor controllability and better shelf-life. Other biodegradable cat litter products are Feline Pine Original Cat Litter, Biodegradable Bentonite Kitty Litter, Biodegradable, and Hygienic Tofu Cat Litter in Blueberry Flavor along with others.
North America is expected to account for major share in the pet care products market in the forecast period. According to the American Pet Products Association, in 2017, US$ 69.36 billion was spent on pets in the U.S., which is an increase by US$ 40 billion from 2001. The major spending sectors for pet owners are food and vet care, which is US$ 30 billion and US$ 17 billion respectively.
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Asia Pacific is expected to be the fastest growing pet care products market by 2025. This is owing to increasing pet adoption in countries such as India, South Korea, and others. In South Korea, 17% of the household owns a pet (cats, dogs, mini pigs and others), which is in turn leading to growth of the pet care products market in Asia Pacific. Furthermore, in China, local players such as Shanghai Bridge Petcare and others are competing with the foreign players such as Mars Foods, Royal Canin Au Yu (Shanghai) Pet Food, and others by using North European standards in pet food manufacturing and exporting various products such as Nature Bridge, Nature Club, Kitchen Flavor, Nory, and others with competitive pricing.
Some of the major key players in the pet care products market include, Mars Incorporated, Nestlé S.A., Hills Pet Nutrition Inc., Wellpet LLC, Proctor & Gamble Co., Nutriara Alimentos Ltd., Agrolimen SA, and Uni-Charm Corp. among others.
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