In this blog post, we will delve into the fascinating world of Pet Accessories Industry Statistics. From trends in pet ownership to sales figures of pet products, this industry offers valuable insights into the growing market of pet accessories. Join us as we explore the data behind this booming industry and uncover the latest statistics that shape the pet accessories market.
The Latest Pet Accessories Industry Statistics Explained
The global pet accessories market size was valued at $19.2 billion in 2018.
The statistic states that the global pet accessories market had a total market value of $19.2 billion in 2018. This figure represents the total revenue generated from the sales of various accessories such as toys, beds, clothing, grooming products, and other items designed for pets across the world. The market size of pet accessories is a reflection of the growing pet ownership rates and the increasing trend of humanizing pets, which drives the demand for high-quality and specialized products for pets. The substantial market value indicates a lucrative and competitive industry with significant opportunities for businesses operating in the pet accessories sector.
North America dominated the pet accessories market in 2018 with over 35% revenue share.
The statistic indicates that in 2018, North America had the highest revenue share in the pet accessories market compared to other regions, accounting for over 35% of the total revenue. This dominance suggests that North America has a significant market presence and consumer demand for pet accessories, potentially driven by factors such as a high pet ownership rate, strong purchasing power, and a robust pet industry. The region’s leading position in the market implies that North American companies and businesses involved in pet accessories likely have a competitive advantage and influence in shaping industry trends and developments.
The market for pet accessories is expected to experience a CAGR (compound annual growth rate) of 6.5% from 2019 to 2025.
This statistic indicates that the market for pet accessories is projected to grow steadily at a compound annual growth rate (CAGR) of 6.5% between the years 2019 and 2025. The CAGR accounts for the year-over-year growth rate of the market, taking into consideration the compounding effect over multiple years. This means that the market is anticipated to expand by an average of 6.5% annually over the specified period, reflecting sustained growth in consumer demand for pet-related products such as toys, clothes, grooming supplies, and other accessories. This forecast suggests that the pet accessories industry is expected to thrive and present opportunities for businesses operating within this sector to capitalize on the growing market trends.
The U.S. is the largest market for pet accessories, accounting for 35.6% of the global market in 2018.
This statistic indicates that the United States holds a significant share of the global market for pet accessories, with a substantial 35.6% contribution in 2018. This implies that the marketplace for pet accessories in the U.S. is substantial and influential compared to other countries around the world. The high market share underscores the country’s strong consumer demand for pet-related products and accessories, highlighting the importance of the pet industry within the U.S. economy. This statistic also suggests that businesses involved in the production and sale of pet accessories would benefit from focusing their efforts on catering to the American market due to its dominant position in the global landscape.
The cat accessories segment is anticipated to witness the fastest growth, with a CAGR of 7.0% from 2019 to 2025.
The statement indicates that the cat accessories market is expected to experience rapid growth over the specified period, as evidenced by a Compound Annual Growth Rate (CAGR) of 7.0%. This means that on average, the market for cat accessories is projected to increase by 7.0% annually between 2019 and 2025. The anticipated fastest growth in this segment suggests a strong demand for cat-related products during this time period, likely driven by factors such as increasing pet ownership, changing consumer preferences, and the growing popularity of cats as pets. This statistic provides valuable insight into the potential opportunities within the cat accessories industry and highlights the significance of this market for businesses operating in this sector.
Toys and training products segment was the largest share accounting for 30.0% of the total market in 2018.
This statistic indicates that within the market being analyzed, the toys and training products segment held the largest portion, accounting for 30.0% of the total market share in the year 2018. This suggests that consumers within this market showed a significant demand for toys and training products compared to other product segments. The dominance of this segment could be influenced by various factors including consumer preferences, marketing strategies, and product innovation. By capturing the largest share of the market, the toys and training products segment has established itself as a key player in driving growth and shaping the overall market dynamics in 2018.
The offline channel segment held the largest share of 80.5% in 2018 in the pet accessories market.
The statistic indicates that in 2018, the offline channel segment was the dominant distribution channel in the pet accessories market, holding a substantial share of 80.5%. This suggests that a significant majority of pet accessories were sold through traditional brick-and-mortar stores, pet shops, and other physical retail outlets rather than online platforms. The high share held by the offline channel segment could be attributed to factors such as consumer preferences for in-person shopping, the need to physically inspect products before purchase, and the convenience of immediate product availability. This statistic underscores the continued importance and relevance of offline retail channels in the pet accessories market despite the increasing prominence of online shopping in today’s digital age.
The online sales channel for pet accessories is projected to expand at a CAGR of 8.1% from 2019 to 2025.
This statistic indicates that the online sales channel for pet accessories is expected to grow steadily at a Compound Annual Growth Rate (CAGR) of 8.1% from 2019 to 2025. A CAGR of 8.1% means that, on average, the online sales in the pet accessories market are expected to increase by 8.1% every year during this period. This projection suggests a positive trend in consumer behavior towards purchasing pet accessories online, indicating a shift towards e-commerce platforms for pet-related products. The consistent growth rate highlights the potential opportunities in this market segment for businesses and investors to capitalize on the increasing demand for pet accessories through online channels.
Europe was the second largest market, with a revenue share of over 30% in 2018 in the pet accessories market.
The statistic indicates that in 2018, Europe held the position as the second largest market in the pet accessories industry, capturing over 30% of the total revenue share. This suggests that European consumers have significant demand for pet accessories, contributing substantially to the overall market size and growth. The strong revenue share highlights the significance and opportunities present in the European pet accessories market, making it an important region for businesses operating in the industry to consider for potential growth and expansion strategies.
Asia Pacific is expected to be the fastest-growing region in the pet accessories market, with a CAGR of 7.9% from 2019 to 2025.
This statistic highlights the projected growth rate for the pet accessories market in the Asia Pacific region from 2019 to 2025. The Compound Annual Growth Rate (CAGR) of 7.9% indicates the expected average annual growth of the market during this period. The term “fastest-growing region” emphasizes that the Asia Pacific region is anticipated to experience a higher growth rate compared to other regions globally. Factors such as increasing pet ownership, rising disposable incomes, and a growing focus on pet health and well-being are likely contributing to this growth trend. This statistic suggests that the pet accessories market in the Asia Pacific region presents significant opportunities for businesses looking to expand or invest in this industry.
The pet beds segment accounted for 20% of the total revenue in the pet accessories market in 2018.
This statistic states that the pet beds segment generated 20% of the overall revenue in the pet accessories market in 2018. This implies that out of the total sales from various categories of pet accessories such as toys, grooming products, and carriers, pet beds specifically contributed one-fifth of the revenue. By having a significant share of the market revenue, the pet beds segment is a key player in the pet accessories market, indicating the demand and popularity of pet beds among consumers. Understanding the revenue distribution among different segments helps businesses strategically allocate resources and tailor marketing efforts to maximize profits and meet consumer preferences.
The wallet share for pet products, which includes accessories, was approximately 27% in 2020.
The statistic that the wallet share for pet products, including accessories, was approximately 27% in 2020 means that out of all consumer spending on products related to pets such as food, toys, grooming supplies, and accessories, 27% of that total expenditure was allocated towards pet products. This suggests that pet ownership is a significant market segment, with consumers dedicating a sizable portion of their spending towards caring for their pets. This statistic can provide insights into consumer behavior and preferences, helping businesses in the pet industry identify opportunities for growth and potential areas for investment and innovation.
In the year 2020, North America accounted for almost 38.8% of the pet accessories market.
The statistic indicates that in the year 2020, North America held a dominant position in the pet accessories market, representing nearly 38.8% of the total market share. This suggests that a substantial portion of the global demand for pet accessories was driven by consumers in North America. Factors such as a large population of pet owners, high disposable income levels, and a strong cultural emphasis on pet care and ownership likely contributed to North America’s significant presence in the market. As such, companies in the pet accessories industry may find North America to be a crucial region for their business growth and strategic focus, given its substantial market share and potential for further expansion.
Europe held 32.5% of the global pet accessories market in 2020.
The statistic “Europe held 32.5% of the global pet accessories market in 2020” indicates that Europe accounted for 32.5% of the total market share of pet accessories on a global scale during the year 2020. This suggests that Europe was a significant player in the pet accessories industry, with a relatively large market presence compared to other regions worldwide. The statistic highlights Europe’s role as a major market for pet accessories, indicating the region’s importance in the overall global market and its influence on industry trends and developments within the pet care sector.
Asia Pacific’s pet accessories market is expected to grow at a CAGR of 8.3% in the coming years.
This statistic indicates that the pet accessories market in the Asia Pacific region is projected to experience a Compound Annual Growth Rate (CAGR) of 8.3% in the foreseeable future. This growth rate signifies a steady and consistent increase in the market size and demand for pet accessories over time. Factors driving this growth could include the rising pet ownership rates, increasing disposable income, changing lifestyles, and a growing emphasis on pet health and well-being among consumers in the Asia Pacific region. Businesses operating in the pet accessories industry can capitalize on this trend by developing innovative products, expanding distribution channels, and implementing effective marketing strategies to cater to the evolving needs and preferences of pet owners in the region.
The dog accessories market is projected to grow at a CAGR of 6.5% from 2021 to 2026.
This statistic indicates that the dog accessories market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.5% from 2021 to 2026. A CAGR is a smoothed annual growth rate that provides a consistent rate of growth over a specified period by accounting for the compounding effect. In this context, a 6.5% CAGR suggests that the market for dog accessories is forecasted to increase steadily at an average rate of 6.5% per year over the five-year period, reflecting expected growth and demand for products such as toys, beds, collars, leashes, and clothing tailored for dogs. This projection can be valuable for stakeholders in the pet industry, such as manufacturers, retailers, and investors, to anticipate market trends and make informed business decisions based on expected growth rates in the dog accessories industry.
The retail sales value of pet care, including pet accessories, in the United States was $55.33 billion in 2020.
The statistic reports that in the United States in 2020, the retail sales value of pet care products and accessories amounted to $55.33 billion. This figure represents the total amount of money spent by consumers on items related to the care and well-being of pets, such as food, grooming products, toys, and other accessories. The substantial value indicates a strong market demand for pet-related goods and services, reflecting the importance that many people place on providing quality care for their pets. Additionally, the high sales figure suggests that the pet care industry is a significant economic sector, with various businesses and manufacturers benefiting from the steady growth and popularity of pet ownership in the United States.
The pet grooming segment is expected to register a CAGR of 3.62% during 2021-2026.
This statistic indicates that the pet grooming segment is projected to experience a Compound Annual Growth Rate (CAGR) of 3.62% between the years 2021 and 2026. This suggests a steady and moderate growth rate for the industry over the specified time period. A CAGR of 3.62% implies that the industry’s revenue or market size is forecasted to increase by an average of 3.62% annually during the mentioned timeframe. This statistic is important for stakeholders in the pet grooming industry, as it provides valuable insights into the expected growth trajectory and potential opportunities within the market over the next five years.
The dog segment was the largest, with a share of 53% in the pet accessories market in 2021.
This statistic indicates that the dog segment accounted for the highest proportion of sales within the pet accessories market in 2021, capturing a substantial share of 53%. This suggests that dog-related products such as collars, leashes, toys, and grooming supplies were the most popular and in-demand items among consumers compared to other pet categories like cats, birds, or fish. This information is valuable for businesses operating in the pet industry as it highlights the importance of catering to the needs and preferences of dog owners in order to maximize sales and market share.
In 2021, the e-commerce segment in pet accessories market registered a CAGR of 9.84%.
The statistic indicates that from 2021, the e-commerce segment within the pet accessories market experienced a Compound Annual Growth Rate (CAGR) of 9.84%. This means that, on average, the e-commerce portion of the pet accessories market grew by 9.84% every year over the specified period. This steady growth rate suggests a strong demand for pet accessories through online channels, potentially driven by factors such as convenience, wider product selection, and changing consumer preferences towards online shopping. The CAGR provides a smooth average growth rate across multiple years, offering valuable insights into the long-term performance and trends within the e-commerce segment of the pet accessories market.
References
0. – https://www.www.statista.com
1. – https://www.www.mordorintelligence.com
2. – https://www.www.grandviewresearch.com
3. – https://www.www.marketdataforecast.com
