The Global Pet Care Market is expected to exhibit flourishing growth owing to an increasing demand for pet care products including food products, pharmaceuticals, and accessories. Furthermore, rising emphasis on pet care, nutrition and health also influences the growth of the market. Other factors driving the growth of the market are increasing disposable incomes in middle income groups, increase in pet population, and rising trend of pet care to home. Additionally, technological advancement in pet care also influence the market growth.
Number of technologies is available for pet health and nutrition in the market are computerized feeders, pedometers, and others. The U.S based company, Pet Life LLC, introduced a high-tech pet motion, activity and consumption tracker. This high-tech product is operated via Bluetooth and Wi-Fi.
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Animal health and nutrition has received attention of key players in the market owing to an increasing use of pet care product products and services. Major products and services in pet care are nutritional supplements, medical devices medicines and vaccines, diagnostics, pet supplies, veterinary and other related services. Therefore, extensive use of these products is expected to boost the growth of pet care market across the globe.
Nestlé (U.S.), Zoetis , Aller Petfood Llc, Ancol Pet Products Limited, Beaphar, BHJ, Martin & Martin (Pty) Ltd., earthbath, J.M. Smucker Company, Nestlé, PetLife LLC and PLATINUM PETS are some of the prominent players at the forefront of competition in the global pet care market and are profiled in MRFR Analysis.
Global Pet Care Market – Regional Analysis:
The growth is attributed to an increasing demand for pet nutrition and pet care devices in the market. Additionally, the market growth is also boosted by increasing expenditure on pet care in North America. In North America, the U.S. is the largest market for pet care whose growth is attributed to an increasing demand for pet care According to the American Pet Products Association (APPA), the actual U.S. Pet Industry Expenditures for the year 2016 is USD 66.75 billion and the number has increased by 4.2% from the previous year. In South America, the market is expected show steady but positive growth owing to growing emphasis on pet care and increasing pet population. Europe is the second largest market for pet care market followed by Asia Pacific. The growth of the market in the Europe is attributed to an increase in the demand for pet nutrition as well as overall growth of healthcare industry in European countries such as Germany, France, and U.K. Germany is the largest market for pet care in the European Union (EU). In Germany, rinsing awareness about rare diseases and presence of major research institutes influences the growth of the market. Asia Pacific is the expected to be the fastest growing market for pet care owing to an increasing demand for diagnosis and treatment services and availability highly qualified and skilled healthcare professionals in veterinary medicine.
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