According to a recent report by Meticulous Research®, the global  pet care market   is set to reach $287.96 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. This growth is attributed to increased spending on pet health and insurance, rising pet adoption rates, and higher disposable incomes in developing countries. The emergence of new pet product categories and a shift towards premium products are expected to further boost market opportunities.

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Pet Humanization Driving Growth

Pet humanization, which involves treating pets like family members, is significantly impacting the market. Examples of this trend include:

Treats: Pet owners are giving treats to strengthen their bond with pets and promote dental health. Seasonal Snacks: Companies are offering seasonal treats, such as Christmas biscuits for dogs. Pet Clothing: High fashion brands are entering the pet apparel market. Notably, Gucci launched a line of pet clothing and accessories in 2022.

Segment Analysis

The pet care market is segmented into pet food, pet products, and pet services. The pet food segment is anticipated to grow the fastest, with a CAGR of 7.0% due to increasing pet adoption, a shift towards premium foods, and innovation in pet food products. For instance, Blue Buffalo Company introduced seasonal treats like Blue Buffalo Santa Snacks in November 2023.

Animal Type Insights

In 2024, dogs are expected to dominate the pet care market with a 57.2% share. This preference is evidenced by the APPA National Pet Survey, which reported 65.1 million households with dogs compared to 46.5 million with cats.

Sales Channel Trends

The market is also divided into offline and online sales channels. The online segment is projected to grow at a higher CAGR, driven by increased smartphone usage, the rise of e-commerce platforms, and attractive discounts. Subscription models for pet products are also contributing to this growth.

Regional Breakdown

Geographically, the pet care market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is forecasted to have the highest CAGR of 7.7%, driven by rising pet adoption, growing disposable incomes, and increased availability of international pet care products.

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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