DUBLIN, January 21, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/kbk5sb/global_pet) has announced the addition of the "Global Pet Accessories Market 2015-2019" report to their offering.
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The global pet accessories market to grow at a CAGR of 5.65% over the period 2014-2019.
Global Pet Accessories Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, Latin America, MEA, and North America; it also covers the landscape of the market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Pet accessories are specialty products that are manufactured according to the functional requirements of pets such as dogs, cats, birds, small animals, and reptiles. These accessories include a variety of products such as feeding, bedding products, toys and leashes. These accessories are available in pet speciality stores and retail outlets such as supermarkets, hypermarkets, discounters globally.
In 2014, North America dominated the market, followed by Europe, APAC, Latin America, and MEA. The market witnessed a rapid growth in developing countries such as Argentina, Brazil, China, Mexico, India, Russia, and Vietnam. With respect to types of pet accessories products, the pet toys segment dominated the market in 2014.
Pet humanization intensifies the buyers' need to demand high quality and premium products for their pets. The millennials or the genY are increasingly changing the way pets are being looked at, and are hence inclined toward spending much more on their pets than would have been considered in the past.
According to the report, several factors are responsible for the growth of the market, the major one being the increasing rate of pet ownership in several regions such as South Asia and South East Asia. Such a growth in pet ownership in the region means that, apart from other traditional accessory items, individuals are also spending on various different types of pet accessories.
Further, the report states that the market is not devoid of challenges. Increased pet allergies in humans is the biggest challenge for the market. Consumers increasingly avoid purchasing pets because of anticipated allergies and infections, thereby hampering the growth of the pet accessories market.
To calculate the market size, the report considers revenue generated from the sales of the following pet accessories:
- Housing, bedding and feeding
- Collars, leashes, and utility
- Others (Apparel, sunglasses, strollers, and agility accessories)
- Ancol Pet Products
- Hartz Mountain
- Rolf C Hagen
- Rosewood Pet Products
Other prominent vendors
- Johnson's Veterinary Products
- Leonard F. Jollye
- Mines for Pets
- Platinum Pets
- Reef One
For more information visit http://www.researchandmarkets.com/research/kbk5sb/global_pet
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