PUBLISHER: SkyQuest | PRODUCT CODE: 1259955
PUBLISHER: SkyQuest | PRODUCT CODE: 1259955
Global Pet Grooming Products Market size was valued at USD 11.72 billion in 2021 and it is expected to reach a value of USD 17.39 billion by 2028, at a CAGR of 5.8% over the forecast period (2022-2028).
The primary reasons driving the growth of the worldwide pet grooming products market are rising pet adoption, growing humanization, and continual expansion in expenditure on various pet items such as grooming, food, and other accessories. Additionally, rising global awareness of pet health is another important driver projected to drive increased demand for pet grooming products over the forecast period.
Nevertheless, in recent years, the adoption rate of companion animals in many industrialised countries has increased dramatically, in tandem with increased spending on animal health. People regard them as family members and are eager to maintain their health; as a result, they are more likely to spend money and time on their pets. According to WGF GmbH, in 2020, around 47% of all German homes would have a pet animal. Similarly, according to the American Pet Product Association National Pet Owners Survey, around 70% of US families, or approximately 90.5 million homes, own a pet animal.
Consumer preferences for high-quality products and accessories, as well as a wide selection of grooming services for their pets, are also expected to drive market expansion over the projection period. Furthermore, mobile pet grooming services have grown in popularity across the world, with specifically constructed vans that travel and provide a full variety of treatments directly to their home. These characteristics have made it unnecessary to wait in line for pet grooming services. All of these elements are expected to drive the global pet grooming market throughout the forecast period.
Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Pet Grooming Products Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global pet grooming products market is segmented on the basis of product type, distribution channel, pet type, and region. By product type, the market is sub-segmented into shampoo & conditioner, shear & trimming tools, combs & brushes, and others. By distribution channel, the market is categorized into supermarkets, specialty stores, online, and others. By pet type, the market is categorized into dogs, cats, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Drivers
The worldwide pet grooming products market is predicted to be driven by high adoption rates and rising animal health spending throughout the forecast period. Consumers are willing to spend more and more on their companion's animal health since they consider them a member of their family, owing to rising disposable income and purchasing power. According to the American Pet Products Association, spending on pet grooming products increased by more than 4.5% between 2019 and 2020.
Restraint
The rising number of allergies connected with pet animals such as dogs and cats is likely to be a major restraint on the global pet grooming products market over the forecast period. According to our research, around 33% of the total population of the United States is allergic to dogs and cats. Furthermore, regulatory restrictions on the import and export of animals and birds are projected to stymie industry expansion in the future years.
Market Trends
The rapid increase in pet humanization, combined with increased interest in treating companion animals as family members, is expected to boost the worldwide pet grooming products market. Coupled with rising urbanisation, innovation in pet care products is expected to contribute to demand in the coming years. BASF Care Creations, for example, has created a new and three formulations exclusively for dog grooming, including creamy co-wash for dogs, fresh and dry shampoo mist, and micellar dog shampoo. It was founded with the goal of providing excellent items to meet the needs of pet owners.