According to a new report published by Allied Market Research titled “Pet Grooming Products Market by Type and Distribution Channel: Global Opportunities Analysis and Industry Forecast, 2018 – 2025”, the global market size for pet grooming products Pet Grooming Products was valued at USD 3,872 Million in 2017. , and is expected to reach USD 5,488 Million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. In 2017, the US market pet grooming products accounted for nearly 30% of the global market.
Rise in the trend of nuclear families, rapid humanization of pets, and increased awareness of pet health are driving the growth of the global pet grooming products industry. Additionally, increasing number of pet owners in developing countries and increasing online sales provide opportunities for market players. However, increasing concern over allergies associated with pets is expected to hamper the growth of the market.
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According to the Asthma and Allergy Foundation of America, nearly 30% of people with allergies in the United States suffer allergic reactions to cats and dogs. Exposure to cat and dog allergens can lead to various reactions such as stuffy nose, swollen and itchy skin membranes, and eye inflammation. Rising prevalence of pet allergies among people is limiting the adoption rate of pets, thereby hampering the growth of the pet grooming products market.
Pet grooming products such as shampoos and conditioners are expected to gain a huge market share as they not only help keep pets clean but also prevent skin diseases and hair loss.
The distribution channel’s online platform is expected to grow exponentially due to the increase in internet and smartphone penetration and the development of the e-commerce industry. According to the World Bank, in 2016, about 77.7% of the population in North America are Internet users, followed by Europe and Central Asia, accounting for about 72.9% of the population as Internet users. Additionally, access to the internet and online supplies of pet products has provided pet owners with a platform where they can easily compare various products and prices and shop with ease. Some of the popular online retailers in the pet grooming market are Chewy.com, Amazon.com, Walmart.com, and Petco.com.
The supermarket/hypermarket segment generated the highest revenues in 2017, as they offer a unique shopping experience as well as a wide range of products. Conversely, online sales have seen the highest growth rate as they offer a wide variety of products for pet owners and are one of the most convenient shopping methods.
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The North America pet grooming products market share is expected to account for the highest market share, owing to the surge in the adoption of specialized, advanced and high-end pet grooming products range in the United States. emerging economies, such as China and India, are expected to drive the demand for pet grooming products in Asia-Pacific. In Brazil, the increased frequency of pet adoption can be seen due to the growing middle class population. This is leading to an increase in the demand for pet care products and accessories, which in turn is driving the growth of the market in this region.
According to the US Census Bureau, in 2016 about 69% of children under 18 lived in two-parent families and about 23% of children under 18 lived with a single mother. Busy lifestyle, increase in single parenthood and domestic violence are some of the factors that lead to an increase in the tendency of nuclear families. Therefore, companionship is one of the determining factors in owning a pet. According to the Pet Food Manufacturing Association (PFMA), in 2015, more than 58 million were adopted into each household, of which 25% of dogs and 16% of cats were adopted as pets worldwide.
Key players profiled in the report are Ancol Pet Product Limited, Beaphar, Ferplast SPA, Johnsons Veterinary Products Ltd., PetEdge, Rolf C. Hagen Inc., Rosewood Pet Products, Ryans Pet Supplies, The Hartz Mountain Corporation, and Wahl Clipper Corporation.
Other significant players in the pet grooming products industry are Pet Brands Ltd. (UK), Just For Pets Ltd. (UK), Bob Martin (UK), Petco Animal Supplies, Inc. (USA) and Groomers Delight (New Zealand). ).
Key takeaways from the Pet Grooming Products Market:
In terms of value, the pet shampoos and conditioners segment is expected to grow at a CAGR of 5.0% during the forecast period.
North America is expected to dominate the market, registering a significant CAGR of 3.9% in terms of value.
Asia-Pacific is expected to grow exponentially over the forecast years, with a CAGR of 6.2%, in value terms.
The supermarket/hypermarket distribution channel is expected to dominate the global pet grooming products market, registering a CAGR of 4.9%.
China accounted for more than half of the total pet grooming products market in Asia-Pacific in 2017.
In the global pet grooming products market, India is expected to grow at a CAGR of 7.6%, in terms of value.
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