Global Pet Care Market Report and Forecast 2024-2032

Global Pet Care Market Outlook

The global pet care market size was around USD 195.69 billion in the year 2023. The market is estimated to grow at a CAGR of 5.9% between 2024 and 2032, reaching a market value of nearly USD 327.83 billion by 2032.

Pet care encompasses the comprehensive care and consideration provided to ensure the well-being, health, and contentment of pets, which many pet owners view as family members. The growing awareness of animal welfare and well-being has contributed to the rising demand for pet care products.

Taking pets for routine check-ups, vaccinations, and medical care as needed are also crucial elements of pet care as preventive care is crucial for early detection and treatment of health issues. Moreover, providing sufficient exercise to maintain their physical health and prevent obesity depending on the pet’s species, age, and health are also crucial parts of pet care.

Additionally, spending quality time with pets to foster a bond and provide emotional support, offering toys and activities that keep pets mentally stimulated and prevent boredom, teaching pets appropriate behaviours and socialising them with people and other animals are some of the additional aspects of pet care.

Key Trends in the Market

Rise in pet adoption

The market size has significantly expanded in the past few years, driven by growing pet adoption. According to the 2023-2024 APPA National Pet Owners Survey, pet ownership in the United States has risen from 56% to 66% over the past three decades, with 86.9 million households now owning pets. Rising pet ownership is one of the crucial pet care market trends, that have been influenced by increasing disposable incomes and rising awareness of health benefits associated with owning a companion animal.

The COVID-19 pandemic, which led to extended periods of people staying at home due to shelter-in-place orders and remote work, contributed to an increase in pet adoptions and fostering, as recorded by animal shelters. Pets provide emotional support, reduce feelings of loneliness, and can help alleviate stress and anxiety, which might be heightened during such uncertain times. The shift to working from home and the reduction in social activities outside the house mean people generally have more time to devote to a pet. This includes the time needed for training, exercise, and bonding, which can be particularly demanding for new pets.

Growing expenditure on pet care products

The market is likely to experience growth driven by factors such as improving distribution networks (both offline and online) and increased consumption of pet care products, including luxury items like treats and toys for pets. Increasing expenditure on pet-related products, including food, healthcare, insurance, and grooming, is expected to favour pet care market growth. In January 2023, data from the Pet Advocacy Network revealed that U.S. pet owners spent approximately $50 billion on pet treats and food as part of a total pet spending of $93.95 billion.

The growth of e-commerce platforms has further made it easier for consumers to access a wide range of pet care products as online retail offers convenience, a broader selection of products, and often competitive pricing. There is also a growing trend of pet owners investing in health and wellness products for their pets, including premium-quality foods, supplements, and healthcare items.

The market for luxury pet treats and gourmet foods is expanding, as owners are willing to spend more on special treats for their pets. Some pet owners are interested in pet fashion, including clothing, accessories, and other items that allow them to express their pet's personality.

Increasing popularity of high-end pet care devices

Companies are focused on integrating improved methods and technologies to create innovative animal care products, including location tracker devices, cardboard pet feeders, and smart laser cat toys, thus fostering the pet care market demand. Owning a pet is regarded as a significant status symbol within affluent societies, further stimulating demand for high-end products, including wearable devices and technology-related products.

GPS trackers are attached to a pet's collar, allowing owners to track their pet's location in real-time through a smartphone app and this is especially useful for locating lost pets or monitoring the movements of pets that spend time outdoors. Some GPS trackers also offer geofencing, where owners can set a designated safe area for their pet and receive alerts if their pet leaves this area.

Similar to fitness trackers for humans, wearable health devices for animals monitor a pet’s physical activity levels, heart rate, and even sleep patterns. They provide valuable data that can help in monitoring a pet's health and detecting early signs of illness.

Pet Care Market Segmentation

Based on pet type, the market is divided into dog, cat, fish, bird, and others. On the basis of product type, the segmentation includes pet food, veterinary care, and pet grooming. Based on distribution channel, the market is segmented into supermarket and hypermarket, pet stores, veterinary clinic and pet medical shops, online retailers, and others. The major regional markets for pet care are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global pet care market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Mars, Incorporated

• Nestlé S.A.

• Blue Buffalo Company, Ltd.

• Hill's Pet Nutrition, Inc.

• The J.M. Smucker Co.

• Ancol Pet Products Limited

• The Hartz Mountain Corporation

• Heristo AG

• Doskocil Manufacturing Company, Inc (Petmate)

• Drools Pet Food Pvt. Ltd.

• Others

Market Share by Distribution Channel

Veterinary clinic occupy a significant pet care market share as they are the primary healthcare providers for pets, offering a range of services from routine check-ups and vaccinations to more complex medical and surgical interventions. The health of pets is a major concern for pet owners, and regular visits to the vet are essential for preventive care, early diagnosis, and treatment of illnesses.

Beyond basic health check-ups and treatments, many veterinary clinics offer specialised services such as dental care, dermatology, cardiology, and emergency care. Some clinics also provide additional services like grooming, boarding, and behaviour training, making them a one-stop shop for various pet care needs.

The rise of e-commerce is transforming pet care into the digital sphere, delivering a range of products to suit customer demands in one click. Some online platforms also provide tailored pet care products and subscription services, enhancing users’ convenience and accessibility.

Market Share by Region

As per the pet care market analysis, North America accounts for a substantial market share, due to the growing number of pet owners with high disposable incomes, driving demand for pet care products and services. While the 2021-2022 National Pet Owners Survey reported 69% of U.S. households owning pets (up from 67% in 2019), the market demand in the Asia Pacific region is set to increase. Economic expansion increased disposable income, and growing pet ownership contribute to the regional market expansion, further encouraging prominent companies like Mars Incorporated and Nestle S.A. to establish and expand their manufacturing facilities in South Asian countries like India and China. The rising middle-class population further supports market growth, fuelled by pet owners' demand for premium-quality products.

In Europe, countries like Portugal, Germany, and France have witnessed a notable uptick in cat ownership, leading to increased consumption of cat food. In 2023, Germany had the second-highest pet cat population at 15.2 million and the third-highest pet dog population at 10.6 million in Europe.

Meanwhile, the South American region, especially Brazil and Chile, with their aquaculture-related production facilities, has witnessed substantial revenue growth in the fish food products sector, driven by the presence of 168 million pets in Brazil in 2023, making it the world's third-largest pet-owning nation.

Competitive Landscape

Mars, Incorporated established in 1911, is a leading global corporation with a diverse product portfolio encompassing food, confectionery, pet care, and nutritional solutions. Headquartered in McLean, Virginia, it ranks among the United States' largest privately held companies. The company comprises four divisions: Mars Wrigley, Mars Food, Mars Petcare, and Mars Edge.

Nestlé S.A. was founded in 1866 and stands as the world's largest food and beverage company, dedicated to the mission of harnessing the potential of food to improve the quality of life for current and future generations. The company aims to provide products and services across every life stage, striving for excellence in serving individuals and their families. Its petcare unit Nestlé Purina PetCare offers nutritious and high-quality pet food for cats and dogs that helps keep them healthy and happy.

Blue Buffalo Company, Ltd. was founded in 2003 in Wilton, Connecticut and leads the premium all-natural pet nutrition sector. With robust advertising, marketing efforts, and a constant flow of new offerings, the company has achieved impressive growth. Distinguishing itself, Blue Buffalo is the sole pet food brand that advertises on television and employs a 1,500+ strong team of in-store product experts to educate pet owners. Their products are available through major national pet speciality chains and numerous neighbourhood stores across the U.S.

Other players operating in the pet care market include Hill's Pet Nutrition, Inc., The J.M. Smucker Co., Ancol Pet Products Limited, The Hartz Mountain Corporation, Heristo AG, Doskocil Manufacturing Company, Inc (Petmate), and Drools Pet Food Pvt. Ltd., among others.

Key Highlights of the Report