Summary
- • The global pet industry was valued at $125 billion in 2020.
- • The market size for pet food was estimated at $93.1 billion in 2019.
- • The pet grooming and boarding market is projected to reach $6.3 billion by 2025.
- • In 2020, the United States accounted for 47% of global pet market sales.
- • The global pet grooming products market size was valued at $8.2 billion in 2018.
- • By 2027, the global pet care market is expected to reach $358.62 billion.
- • Asia-Pacific is the fastest-growing region in the pet industry, with a CAGR of 7.8%.
- • The number of pet owners worldwide is estimated to be around 471 million.
- • The global pet insurance market is projected to surpass $11 billion by 2027.
- • Online sales of pet care products are expected to exceed $22 billion by 2025.
- • The global pet supplements market size was valued at $718 million in 2020.
- • Bird ownership in the U.S. has increased by 20% in recent years.
- • The market size for pet grooming services in the U.S. was $7.5 billion in 2020.
- • The global pet toys market is projected to reach $4.98 billion by 2027.
- • The pet supplements market in North America was valued at $52.9 million in 2019.
Step right up, pet lovers and industry enthusiasts alike, because we are about to delve into the wild and wonderful world of the Global Pet Industry! With a whopping $125 billion valuation in 2020, it seems our furry, feathered, and scaly friends are not only stealing our hearts but also our wallets. From pet food reigning supreme at $93.1 billion in 2019 to the projected $6.3 billion pet grooming and boarding market by 2025, its clear that the business of pampering our companions is nothing to bark at. So, grab your leashes and lets explore how the United States leads the pack with 47% market sales, while Asia-Pacific hustles with a 7.8% growth rate. With a projected global market size of $358.62 billion by 2027, the pet industry is a playground where tails wag, feathers flutter, and scales shimmer with prosperity.
Global Market Size
- The global pet industry was valued at $125 billion in 2020.
- The market size for pet food was estimated at $93.1 billion in 2019.
- In 2020, the United States accounted for 47% of global pet market sales.
- The global pet grooming products market size was valued at $8.2 billion in 2018.
- The number of pet owners worldwide is estimated to be around 471 million.
- The global pet supplements market size was valued at $718 million in 2020.
- The market size for pet grooming services in the U.S. was $7.5 billion in 2020.
- In 2020, the global pet care market witnessed a growth rate of 7.3%.
- The pet products market in Europe was valued at $27.07 billion in 2020.
- The market size for pet accessories was valued at $5.3 billion in 2020.
- The pet fish market size in the U.S. was estimated at $1.8 billion in 2020.
- The pet flea and tick products market size was valued at $1.1 billion in 2019.
- The pet reptile market in Europe was valued at $1.21 billion in 2019.
- The global pet boarding services market size is anticipated to exceed $9.5 billion by 2027.
- The market size for pet insurance was $5.7 billion in 2018.
- The pet food packaging market size was valued at $10.5 billion in 2019.
- The global market for pet DNA testing was valued at $374.5 million in 2020.
- The market size for pet cleaning products was $8.4 billion in 2019.
Interpretation
In a world where pets reign supreme, it seems our furry friends are not just man's best friend but also a major economic force to be reckoned with. With a global pet industry valued at a whopping $125 billion in 2020, it's clear that our love for our four-legged companions knows no bounds, whether it be splurging on gourmet pet food to the tune of $93.1 billion, pampering them with grooming products worth $8.2 billion, or even turning to pet DNA testing valued at $374.5 million to unravel their genetic mysteries. The numbers speak for themselves, showing that in the pet world, the bark is indeed bigger than the bite!
Market Projections
- The pet grooming and boarding market is projected to reach $6.3 billion by 2025.
- By 2027, the global pet care market is expected to reach $358.62 billion.
- The global pet insurance market is projected to surpass $11 billion by 2027.
- Online sales of pet care products are expected to exceed $22 billion by 2025.
- The global pet toys market is projected to reach $4.98 billion by 2027.
- The global pet healthcare market size is expected to surpass $48 billion by 2027.
- The pet wearables market is forecasted to reach $2.5 billion by 2025.
- The global market for pet insurance policies is expected to grow at a CAGR of 14.4% from 2021 to 2028.
- The global pet pharmaceuticals market is expected to reach $15.39 billion by 2027.
- The global pet dietary supplements market is projected to grow at a CAGR of 6.7% from 2021 to 2026.
- The global market for pet grooming Wipes is projected to reach $391.1 million by 2027.
- The global market for pet grooming brushes is forecasted to surpass $880 million by 2026.
- The global market for pet calming products is expected to reach $25.8 billion by 2027.
- The pet funeral services market is expected to reach $1.49 billion by 2027.
- The global market for pet wearable cameras is projected to exceed $500 million by 2025.
- The global market for pet microchips is projected to reach $604.2 million by 2026.
Interpretation
As the world continues to prioritize the well-being and happiness of our furry companions, the global pet industry is booming with a wide array of products and services to cater to every need of our beloved pets. From luxurious grooming and boarding services to advanced healthcare solutions and innovative wearable technology, it seems our pets are living their best lives in this billion-dollar industry. With pet insurance, pharmaceuticals, and dietary supplements on the rise, it's clear that pet parents are willing to invest in the longevity and quality of life of their four-legged family members. So, whether it's calming products for anxious pups or wearable cameras to capture their adventures, it's safe to say that the pet industry is not just for the dogs but for the cats, birds, and even pet fish swimming in their own stylish tanks. In a world where pets are truly family, it seems the sky's the limit when it comes to pampering our furry friends.
Pet Ownership Trends
- Bird ownership in the U.S. has increased by 20% in recent years.
- Pet ownership in urban areas has increased by 48% in developing countries.
- Small mammal ownership in the U.S. has grown by 6% in recent years.
Interpretation
In a world where city-dwellers are embracing furry and feathered companions faster than ever, it seems like you're more likely to bump into a parrot on the way to work than a pigeon. From chirping birds to tiny mammals, the pet industry is booming with urbanites in developing countries leading the charge. So, whether you're strolling down a bustling street in New York or Tokyo, don't be surprised if you find yourself dodging more pet carriers than cars these days. It's clear that the call of the wild is ringing loud and clear in the concrete jungle.
Product-Specific Markets
- The pet dental care market size in the U.S. was valued at $530.6 million in 2019.
Interpretation
Just when you thought taking care of your own teeth was expensive, the pet dental care market in the U.S. is thriving with a value of $530.6 million in 2019. Furry companions everywhere are getting their pearly whites polished, proving that in a world where even pets prioritize dental hygiene, dental floss might soon become the new must-have accessory for both man and man's best friend.
Regional Market Growth
- Asia-Pacific is the fastest-growing region in the pet industry, with a CAGR of 7.8%.
- The pet supplements market in North America was valued at $52.9 million in 2019.
Interpretation
In a world where pampered pets are practically living the high life, the soaring growth of the pet industry in Asia-Pacific at a whopping CAGR of 7.8% is proof that our furry friends are having a moment in the spotlight. Meanwhile, North America seems to be popping vitamins into their pets' bowls like they're going out of style, with the pet supplements market reaching a staggering $52.9 million in 2019. It's clear that as pet owners, we're not just investing in our companions' well-being, but also in their swag levels. Watch out, luxury pet industry - there's a whole lot of wagging tails and purring kitties coming your way!
