Meticulous Research® has recently published a comprehensive report titled ‘Pet Care Market Size, Share, Forecast, & Trends Analysis by Offering (Pet Food & Nutrition, Pet Products, Pet Services) Sales Channel—Global Forecast to 2031.’ According to this study, the global pet care market is anticipated to reach an impressive $287.96 billion by 2031, growing at a CAGR of 5.9%. The increasing trend of pet humanization, where pets are considered family members, has driven demand for premium pet products. This includes pet food, supplements, grooming essentials, and services such as veterinary care and pet walking. The availability of human-grade pet food and high-quality grooming items is becoming more prevalent as manufacturers respond to the growing needs of pet owners.
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Market Growth Drivers
The expansion of the pet care market is influenced by several factors, including increased spending on pet health and insurance, rising adoption rates, and higher disposable incomes in emerging economies. Pet owners are now more inclined to invest in the best products and services for their pets. Additionally, new product categories and the rising preference for premium options are opening growth opportunities in the market.
Leading Market Players
The pet care market is home to several major players, including Mars, Incorporated, Hill’s Pet Nutrition, Inc., Blue Buffalo Company, Ltd., Ancol Pet Products Limited, Saturn Petcare GmbH, Nestlé S.A., and many others. These companies are constantly innovating to meet the evolving needs of pet owners and their pets, particularly with a focus on premium offerings and enhanced services.
