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Mars Incorporated and Garmin International Inc. dominate the market over 1% of the market share. Mars Incorporated is a titan in the global consumer goods industry. The company is mostly recognized for its massive pet food brands such as Pedigree, Whiskas, and Iams. Mars is a diversified giant with its fingers in many cookie jars, including human candy (M&M's, Snickers), chewing gum (Orbit, Extra), and even pet care products beyond food (treats, litter). They have recently shown interest in the pet tech space with connected feeders, suggesting they aim to be a one-stop shop for all things pet care.
Garmin International, Inc. is a multinational leader in GPS technology. They are a household name for their navigation devices and wearables such as fitness trackers and smartwatches. Leveraging its expertise in wearables, the company has successfully entered the pet tech industry with popular GPS pet trackers and activity monitors. Their core competency lies in innovative technology, and it offers a variety of pet tech solutions beyond tracking, including training devices.
Major players operating in the market are:
The pet healthcare segment of the pet tech market is expected to reach over USD 9.5 billion by 2032, as owners are increasingly willing to invest in advanced healthcare solutions for their pets, leveraging AI for predictive health insights and big data for personalized care.
The market size for pet tech was valued at USD 10.5 billion in 2023 and is estimated to register over 13% CAGR between 2024 and 2032, driven by increased emphasis on pet health needs.
Mars Incorporated, Garmin International, Inc, Nedap N.V, Wagz Inc, Afimilk, Xiaomi, Petcube Inc, Fitbark Inc, and Pawbo (Acer) among others.
North America market held market over 57% share in 2023 and will expand rapidly through 2032, driven by high pet ownership rates and advanced technology adoption.