Dog Segment Expected to Expand at a CAGR of 8.8% between 2019 and 2027
Posted by industryprobe21 on August 6th, 2020
According to a new market report published by Industry Probe (www.Industryprobe.com) titled Pet Accessories Market (Type: Outdoor Accessories [Muzzle, Collars, Leashes, and Others), Grooming Accessories [Toothbrush, Scrubbers, Dry Glove & Grooming, Hair Brush, and Others], Food Accessories [Bowls & Dishes, Feeders Ball, and Others], Clothing Accessories [Bow and Tie, Bandana, Jackets, Shirt & t-shirt, and Others], and Others; Pet Type: Cat, Dog, Small Pet, and Others; and Distribution Channel: Online [Company Owned Website and E- commerce Website] and Offline [Hypermarkets/Supermarkets, Pharmacies, Convenience Stores, and Brand Stores]) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027,’ the global pet accessories market is expected to reach US$ 33,951.6 Mn by 2027 and expand at a CAGR of 5.5% from 2019 to 2027.
As per the report, growing consumer awareness, rise in pet ownership, and increasing expenditure on animal healthcare is one of the key factors for the growth of the global pet accessories market. In terms of pet type, the dog segment dominated the global market, owing to the rising adoption of dogs. Increase in the number of single parents and couples with no children adopting pets is likely to propel the global pet accessories market. High spending on pet healthcare and rising popularity of dogs as pets are expected to increase the demand for pet accessories during the forecast period. Increasing popularity of pet accessories is a major factor that has a positive impact on the growth of the global pet accessories market. Product innovation with newer styles and prints is expected to boost the market growth during the forecast period.
The report anticipates that Asia Pacific region will witness tremendous growth during the forecast period. Rising disposable income of consumers in various countries with increasing pet heath awareness among pet owners is leading to market growth. Implementation of stringent government policies for the better care of animals in emerging countries, such as India and China, is anticipated to drive the demand for pet accessories and create significant opportunities for the market during the forecast period. Growing preference for natural and eco-friendly pet accessories is likely to fuel market growth during the forecast period. The global pet accessories market includes several players who are focused on the development of new products to cater to the rising and shifting consumer preferences.
The report includes below mentioned pointers of major players operating in the pet accessories market:
Some of the major players operating in the pet accessories market are featured in this report to give a better competitive analysis of the market and these include Ancol Pet Products., Masterpet, Petmate Holdings Co, Starmark Pet Products, Inc, Doggy Man H.A.Co.,Ltd., Ferplast SpA, Ethical Products, Inc, Rolf C. Hagen, Inc, Hangzhou Tianyuan Pet Products Co.,Ltd, Pet Brands Ltd and ComfyPet Products.
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprise syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring true & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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Website: https://www.industryprobe.com/Also See: Pet Accessories, Accessories Market, Global Pet, Forecast Period, Pet, Market, Global
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