Research Nester has released a report titled “Pet Accessories Market: Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The total number of pet owners in Europe who own cats, dogs, birds, small mammals, aquaria, and reptiles registered to 110096139, 89826097, 51923027, 29783827, 15397244, and 9041070 numbers respectively in the year 2020. Further, 88 Million or 38% of the share of total households owned at least one pet in the region.
The statistics portray the growing number of pet owners in Europe and therefore the need amongst the pet owners to take care of their pets. Pet owners in Europe are often packed up with long working hours, and thus it has become important for them to monitor their pets remotely. This, as a result, is raising the need for smart pet accessories, which allow pet owners to track and monitor their pet’s health and overall wellbeing. Moreover, increasing awareness for smart pet accessories, growing advancements in health tracking devices, and the surge in incidences of poor pet health, are some of the additional factors anticipated to drive the market growth in the coming years.
The pet accessories market is anticipated to grow with a CAGR of 4.6% during the forecast period, i.e., 2020-2028. The market is anticipated to garner a revenue of USD 6708.1 Thousand by the end of 2028 from USD 4514.6 Thousand in 2019. The market is segmented by product type into pet doors, pet feeders, tracking collars, tracing harness, pet housing, pet bedding, accessories, grooming products, training & behavior products, and others. Out of these, the pet doors segment is anticipated to hold the largest market revenue of USD 1852 Thousand by the end of 2028. Further, the segment is also divided into microchip flap, microchip door, and connected doors. Amongst these segments, the connected doors segment is expected to grow from a revenue of USD 559.5 Thousand in 2019 to USD 867.4 Thousand by the end of 2028.
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Geographically, the pet accessories market is segmented by country into Austria, Czech Republic, Hungary, Poland, Romania, Russia, and Slovak Republic. Out of these, the market in Poland is anticipated to hold the largest market share of 19.53% by the end of 2028 and further attain a market revenue of USD 1310.3 Thousand in the same year, up from a revenue of USD 817.6 Thousand in 2019. Presence of a large pet population, along with the stringent norms of the country to implant microchips in all pets, are some of the major factors anticipated to drive the market growth.
However, the high cost of smart pet accessories and the increasing maintenance cost of these devices is expected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the pet accessories market, which includes company profiling of FitBark Inc., Tractive GmbH, PetPace, Ferplast S.p.A., Garmin Ltd., Tail it Technologies AS, Petwalk Solutions GmbH, SureFlap Ltd., Merck & Co., Inc., Doskocil Manufacturing Company, Inc. (Petmate), and others. The market also includes details of the players who manufacture pet microchips, and include, Virbac Group, Trovan Ltd., Avid Identification Systems, Inc., Micro ID Ltd, iDLogic, Doowa Technology Co., Ltd., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Pet Accessories Market: Demand Analysis & Opportunity Outlook 2028”, analyses the overall pet accessories industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the pet accessories market in the near future.
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