Brand Story
28 Sep 2022, 20:29 GMT+10
The pet market (purchasing of pets) size is projected at US$ 16,607.2 Million in 2022 and is projected to reach US$ 34,140.7 Million by 2032, accelerating at a CAGR of 7.5% between 2022 to 2032. Share of the pets market (purchasing of pets) market in its parent market (pet market) is approximately ~10-20%.
Global pet sales are being driven by an increase in pet adoption and ownership, which is being fueled by rapid urbanisation, rising disposable income, and health concerns. Currently, between 8% and 70% of all households have pets.
Similar to this, the growth of the pet grooming and pet care industries as well as the escalating humanization trend are likely to support market expansion during the projection period.
A growing number of people treat their dogs like members of their families, feeding them food and treats based on their pet's nutritional needs or their own dietary preferences, such as veganism.
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Key Takeaways from the Pet Market (Purchasing of Pets) Study:
"Rapid urbanization and rise of pet humanization have boosted triggered pet adoption and ownership, thereby creating chances to improve profitability in the market"- says the FMI Analyst
Who is Winning?
Leading suppliers in pet market (purchasing of pets) are focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the pet market (purchasing of pets).
Major players present in the pet market (Purchasing of Pets) are Petco, Pet finder, PetSmart, Pet mate, Petco Foundation, Adoptapet, Best Friends Animal Society, The Shelter Pet Project, Petango, Petland, and others.
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Market By Category
By Pets Type:
By Price Range:
By Gender:
By Sales Channels:
By Region:
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Disposable Masks Market Forecast: Demand in the global disposable masks market is slated to increase at a 7% CAGR over the forecast period, with the market valuation reaching US$ 4.9 Bn in 2022
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Pet Market Size is Anticipated to be Worth US$ 16,607.2 Mn in 2022 | FMI appeared first on Future Market Insights.
This content is published on behalf of the above source. Please contact them directly for any concern related to the above.
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