Growth in Global Pet Care Market is Gearing Up with the Increase in E-Commerce Sales
Growing health awareness, rising trend of customized pet food, change in living style, etc are some of the factors that are driving the pet care market globally. In addition to this, pet humanization trend is gaining popularity in many countries which is supporting the pet care market. Pets are being treated as a family member and consumers spend a lot of their earning on their products be it accessories, food, healthcare stuffs or grooming. Also, increasing single professionals, increasing divorce rate are boosting the market. Premiumisation of products is one main reason behind the growth of global pet care market.
Global pet care market is projected to grow with a CAGR of more than 2% in the forecasted period of FY 2018-19 to FY 2022-23. The pet care market is categorised into different pet care segments such as pet food, pet healthcare, pet accessories and pet grooming. Pet food is the largest segment contributing more than 66% of the overall global pet care market whereas, pet accessories, healthcare and grooming are growing rapidly among the high income consumers. Antiparasitics and anti-infective drugs are important drivers of the pet healthcare market.
The pet grooming market is growing quickly attributable to the cost and accommodation of the mobile groomer services. The world consists of upper-class, middle-class and lower-class consumers. According to their level of income each class spend a different amount of money on their pets.
North America accounts for the majority of share among all the other regions. Similarly, USA ranks at the first place in the total pet care market. Mars Incorporated and Nestle are the two major players which dominate all the other players in the global pet care market.
Mars owns a total of 17 pet care brands including some popular brands like Pedigree, Cesar, Sheba, Whiskas, etc. Pet shops, superstores are widely famous in many countries because it consists of all the required items of pets. In addition to this, e-commerce sales has grab the market in its hand as it makes it easier and convenient for the pet owners to do online pet shopping which saves their time and energy both and also offer a wide range of discount sometimes.