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Pet Accessories Market : Global Demand, Growth Analysis & Opportunity Outlook 2023

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Extensive insights into the Growth of Pet Accessories Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Facts & Figures in Global Pet Accessories Market

  • According to a survey conducted during the time period of 2017-2018, more than 80 million families in the United States own a pet, whereas in Russia, more than half of the population owns a cat.
  • Among dogs, cats, fish and birds, the majority of the people (around 34%) across the world have dogs which is a major reason behind the dominant share of dogs food & accessories segment in the market.

Global Pet Accessories Market Overview

Pet accessories have established importance in the global market in the past few years. Pet accessories are speciality products that are manufactured according to the requirement of pets such as reptiles, dog, cat etc.  These accessories include a wide variety of products such as feeding, bedding products, toys and leashes. These accessories are available in pet speciality stores and retail outlets such as supermarkets, hypermarkets, discounters globally.

Market Size & Forecast

Global pet accessories market is anticipated to reach USD 22 billion by the end of 2023 witnessing a compound annual growth rate of 7% over the forecast period i.e. 2016-2023. In 2015, housing and bedding segment accounted the highest market share of 35% to the global market, the global market for pet toys is anticipated to expand at a higher pace over the forecast period. There is a rising popularity of natural and organic pet toys as they are considered to be a safer option for pets.

Housing and bedding products for pets are mainly popular in developed regions of the Americas and Europe, where manufacturers are coming up with new product innovations to help pet owners adopt to a much more convenient lifestyle Dogs and cats segment are key to the performance of the pet accessories market, each accounting for an estimated 35% share of the market respectively. Fish and reptiles continue to gain share, however, accounting for an estimated 16% share. CLICK TO DOWNLOAD SAMPLE REPORT

The market for pet toys has garnered immense popularity among developed as well as developing countries. Pet toys are purchased by almost all pet owners for various reasons such as ensuring a certain level of activity for pets. Introduction of advanced cost effective pet accessories, rising concerns towards pet care, increase in health expenditure for animals, thus swelling the demand for pet accessories across the globe.

                                     Pet Accessories Market Demand & Growth Revenue

Market Segmentation

By Product

Deep dive market analysis has been carried out on following product segments:-

  • Pet Housing
  • Pet Bedding
  • Pet Collars
  • Pet Leads & Harnesses
  • Pet Bowls
  • Pet Feeding & Utensils
  • Pet Clothing
  • Pet Toys
  • Other Pet Accessories (other pet accessories segment includes different types of pet apparel, sunglasses, strollers, and agility devices. Pet agility devices include tunnels, hoops, and various other training devices)

By Pets

  • Dog
  • Cat
  • Birds
  • Reptiles
  • Others

By Region

Global Pet Accessories Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

Rising awareness towards health and well-being of pets and introduction of stringent regulations towards better care of animals in many developing nations such as China and U.S are likely to propel the demand of pet accessories over the forecast period. Rise in number of pet ownership and increasing concern towards health and well-being of animals among the owners are some of the key elements which are expected to bolster the demand for pet accessories in the near future.

In addition to this, advancements in pet accessories, availability wide range of pet toys, rising pet care preferences by pet owners, increasing gross disposable income which has led to increase spending on pets, rising concerns towards health and fitness of pets and increasing demand in developing nations across the globe are some of the key elements expected to prompt the demand for pet accessories over the forecast period i.e. 2016-2023. On the other hand, increased pet allergies in humans are the major factor likely to inhibit the growth of pet accessories market in near future.

Top Featured Companies Dominating the Market

  • Aqua Pacific (UK)
  • Bayer (UK)
  • Beaphar
  • Bestpets
  • Bob Martin UK
  • Boots
  • Creature Comforts
  • Dobbies
  • Ferplast (UK)
  • Hagen
  • Hi-Craft
  • Homebase
  • Interpet
  • Johnson's Veterinary Products
  • Just for Pets
  • Juwel Aquarium (UK)
  • Leonard F. Jollye
  • Lloyds Pharmacy

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