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Home Industry News Pet Care Market Size Worth $202.6 Billion by 2025

Pet Care Market Size Worth $202.6 Billion by 2025

24th April 2018

According to a new report by Grand View Research, Inc. the rise in the adoption of pets, and growing demand for premium care products, means that the pet care market is expected to reach USD 202.6 billion by 2025.

Further key findings from the report suggest:
• The global pet care market size was estimated at USD 131.7 billion in 2016 and is expected to grow with CAGR of 4.9% from 2016 to 2025
• Based on type, dogs held the largest market share owing to the increase in the adoption of dogs and health benefits associated with them.
• Cats are anticipated to witness lucrative growth over the forecast period. Cats help to reduce stress and anxiety, decrease risk of stroke and require less training.
• The pet food segment was estimated to be the largest product segment due to growing demand for premium food products and natural & organic products.
• The boarding and grooming services segment is anticipated to witness fastest growth over the forecast period owing to advances in technology making boarding, grooming, and training more easily accessible for the owners.
• The U.S. held the largest share in market in 2016 due to rising animal healthcare expenditure and growing awareness of animal health in the country.
• India is anticipated to witness lucrative growth over the next decade due to an increase in adoption of pets and rising disposable income.
• Some of the key players including PetSmart Inc., PetCo Animal Supplies, Inc., Nestle, Just for Pets and Ancol dominated the pet care market in 2016.

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