Published on : Oct 13, 2016
ALBANY, NY, Oct 13, 2016: The report examines the global pet care market and presents reliable forecasts regarding the market’s development in the 2016-2020 forecast period. The present condition of the global pet care market is examined closely in the report in order to obtain insights into the development pattern of the market. The report, titled ‘Global Pet Care Market 2016-2020,’ predicts a steady 4.72% CAGR for the global pet care market from 2016 to 2020.
The demand for pet care has been driven by the growing number of pet owners as well as the increasing attention being paid to their pet by existing pet owners. Due to the increasing disposable income of consumers, pet ownership has become increasingly common in developed as well as developing regions. The growing product diversity in the pet care market and successful promotion by leading players have also served to make owners more aware of their pet’s needs.
On the other hand, the high number of product recalls in the global pet care market has made consumers wary about some pet care products, which has resulted in a growing demand for organic pet care products. Apart from product recalls, the rising incidence of allergies in pets has also driven the demand for natural products containing low amounts of allergens. On the other hand, the increasing sales of counterfeit pet care products are a key restraint on the global pet care market.
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The report examines the performance of the pet care market in North America, Asia Pacific, Europe, and Rest of the World to explain the regional dynamics of the global market. Among these, the pet care markets in the U.S., the U.K., Japan, and Brazil are explored in detail.
North America and Europe are the leading markets for pet care products due to the widespread pet ownership in the region and the high disposable income of consumers. The presence of several leading players in the pet care industry has also given these two markets a head start, since key R&D efforts in the pet care industry usually originate in countries in these two regions.
By pet type, the report segments the global pet care market into dog care, cat care, fish care, and bird care. Of these, dogs were the most popular type of pet in 2015 and are likely to remain so in the coming years. Due to the popularity of certain breeds of dogs, such as the Labrador Retriever and the German Shepherd, many pet care companies have introduced breed-specific products in the market, which is a popular trend in the market.
The report also examines the leading players in the global pet care market in order to explain the competitive dynamics of the market. Key companies profiled in the report include Nestle Purina, Ancol Pet Products, Mars, and Beaphar.
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