Pet Accessories Market Analysis

Pet Accessories Market Analysis

Based on product type, the market is classified into apparel & clothing, beds & furniture, toys & playthings, feeding & drinking accessories, grooming products, health & wellness products, and others. In 2023, toys & playthings dominated the market, accounting for USD 7.2 billion and is expected to grow at a CAGR of 8.2% from 2024-2032. Pets are increasingly considered as family members, and there is a great emphasis on providing enrichment and amusement for them, which is driving the demand for toys and playthings. Furthermore, toys are not just a fun accessory; they play an important role in stimulating pets psychologically, keeping them interested, and encouraging their natural instincts.
 

Based on pet type, the global pet accessories market is classified into dogs, cats, birds, fish & aquatic pets, reptiles, others (mammals, rabbits, hamsters, etc.). The dogs segment dominated the market, accounting for USD 12 billion in 2023 and is expected to grow at a CAGR of 8% during the forecast period from 2024-2032. Dogs are the most common pets, followed by cats. Dogs are popular as they help with loneliness, anxiety, tension, and depression. They also inspire activity and improve cardiovascular health. Pet accessories are also popular among individuals who live in flats and apartments without a lawn or porch, accelerating the market growth.
 

In the global pet accessories market, North America is poised to hold a significant market share of USD 7.6 billion in 2023, maintaining its dominant position throughout the analysis period. It is projected to reach USD 15.4 billion by 2032. The growing number of pet owners in the region, combined with high disposable incomes, are driving the demand for pet care products and services. According to the American Pet Products Association's National Pet Owners Survey (2021-2022), over 70% of U.S. households owned a pet in 2020, up from 67% in 2019.
 

China dominates the Asia Pacific Pet Accessories market accounting for 33% of market share in 2023 and is supposed to grow at a CAGR of 7.6% during the forecast period from 2024-2032. The region's rapid economic growth and increased disposable incomes are expected to enhance consumer expenditure on pet accessories. Additionally, rising pet ownership and expenditure on pet-care goods are important factors driving regional market growth.