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Pet Care Market Size
Pet Care Market size was valued at USD 304.4 billion in 2023 and is anticipated to grow at CAGR of 6.8% between 2024 and 2032. One of the primary drivers is the increasing humanization of pets, where owners consider their pets as integral members of the family, leading to higher spending on pet health, grooming, and nutrition. This rising animal healthcare expenditure enhances market growth.
Additionally, rising pet ownership rates, particularly in urban areas, amplify the demand for pet care products and services. Moreover, growing awareness of pet health and wellness, coupled with emergence of e-commerce platforms and online pet care retailers, further propels the market growth.
Pet care involves all the practices, services, and products aimed at ensuring the health, well-being, and safety of domesticated animals. This includes proper nutrition, regular veterinary care, grooming, exercise, training, and providing a safe and comfortable living environment. Effective pet care requires a holistic approach to maintain the physical and mental health of pets, fostering a strong bond between them and their owners.
Why is the demand for dog care rising?
The dog segment in the pet care industry accounted for USD 183.9 billion in revenue in 2023, as dogs are often considered beloved members of families, leading to increased spending on their health, nutrition, grooming, and overall well-being.
What factors are driving growth in the pet care market in North America?
North America pet care industry accounted for USD 146.7 billion in 2023 and is projected to grow at 6.4% CAGR between 2024 and 2032, led by the presence of some of the most advanced veterinary healthcare services and pharmaceutical innovations in the region.
How big is the pet care market?
Pet care industry size was worth USD 304.4 billion in 2023 and is projected to expand at 6.8% CAGR from 2024 to 2032 due to the increasing rate of pet humanization across the globe.
Why is the demand for pet care products rising?
The pet care products segment accounted for 72.7% of the market share in 2023, owing to the widespread availability of pet care products through diverse retail channels such as pet specialty stores, supermarkets, online platforms, and veterinary clinics.