Pet Grooming Products Market Is Anticipated To Witness Significant Growth Worth $14.5 Billion With Rising CAGR Of 5.7% By 2025|Grand View Research, Inc.

February 23 17:16 2020
Pet Grooming Products Market Is Anticipated To Witness Significant Growth Worth $14.5 Billion With Rising CAGR Of 5.7% By 2025|Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. The global pet grooming products market size was estimated at USD 9.9 billion in 2018. Rising pet adoptions and humanization are driving the increasing spending on various pet products such as grooming, accessories, and food. Growing awareness about pet health is a major factor resulting in increasing demand for pet grooming products.

The global pet grooming products market size is expected to reach USD 14.5 billion by 2025, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Increasing pet adoption and growing awareness about their hygiene are some of the factors driving the demand for pet grooming product.

In addition, availability of wide range of medicated and organic variants in shampoo, conditioner, and ear butter have drawn greater consumer attention towards grooming products. Dogs and cats are the most common companion animals and they contribute significantly to the demand for various grooming products.

Some of the key players operating in the global pet grooming product market include Groomer’s Choice; Himalaya Herbal Healthcare; Spectrum Brands, Earthbath; Resco; SynergyLabs; Petco Animal Supplies, Inc.; Coastal Pet Products; Vet’s Best; 4-Legger; and World For Pets.

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Due to thick furry coating and outdoor movements and activities, companion animals are susceptible to various diseases and infections triggered by fleas and ticks. Hence companies are introducing specific brushes and shampoos to get rid of these. For instance, SynergyLabs offers veterinary formulated medicated shampoos to relieve companion animals from bacterial infections.

Further key findings from the report suggest:

  • The global pet grooming products market is expected to exhibit a CAGR of 5.7% from 2019 to 2025, thereby reaching a value of USD 14.5 billion by 2025
  • North America is estimated to be the largest market accounting for a share of more than 50% by 2025, driven majorly by the high adoption rates of companion animals among households
  • The shampoo and conditioner segment accounted for the highest revenue share of about 52% in 2018 and is expected to grow with a CAGR of 5.9% over the forecast period
  • Offline distribution accounted for a major share of more than 70% in 2018, whereas online distribution is projected to witness fastest CAGR over the forecast period

Increasing adoption of pets by domestic households have opened up potential opportunities for new entrants in the market especially through online platforms. Some of the e-commerce distributors of pet products include Amazon.com; Petco Animal Supplies, Inc.; PetSmart Inc.; PetMed Express, Inc.; TABcom LLC; BarkBox; PetFlow; and Bulk Reef Supply.

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Among various grooming products, shampoo and conditioner was estimated to have the highest revenue share of the global market. This scenario is majorly attributed to the increasing use of these products as they are specially customized for pet hair and its hygiene.

Asia Pacific is expected to register the highest growth over the forecast period majorly driven by the rising pet adoption in China and India in 2018. The market for companion animal in Japan is attractive with a population of around 20 million cats and dogs.

Shampoo and conditioner accounted for the highest share of more than 50% in 2018. The dominance is primarily attributed to basic hygiene need of companion animals. The fact that these grooming products are specially formulated for pet care which serve the purpose of cleaning, conditioning, and deodorizing the skin and hair of companion animals. In addition, manufacturers have also developed medicated shampoos with specific formulations to treat various skin-related problems and diseases in companion animals.

Access complete  Pet Grooming Products Report Portfolio By Grand View research, Inc.

An increasing number of Americans consider their companion animals to be part of the family. Dogs are the most popular type of pets and the adoption rate of dogs worldwide is high. According to the American Society for the Prevention of Cruelty to Animals, approximately 3.3 million dogs enter animal shelters every year. The 2017 – 2018 National Pet Owners Survey conducted by the American Pet Products Association estimates that 60.2 million of households in U.S. own a dog and 89.7 million pets are owned in U.S.

Grand View Research has segmented the global pet grooming product market on the basis of type, distribution channel:

Pet Grooming Product Type Outlook (Revenue, USD Million, 2015 – 2025)

  • Shampoo & Conditioner
  • Shear & Trimming Tools
  • Comb & Brush
  • Others

Pet Grooming Product Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

  • Offline
  • Online

The companies are engaging in merger and acquisition activities with an aim to expand their business. For instance, in March 2018, BioAdaptives, Inc., a U.S. based natural health products producer acquired Philco Animal Health Inc., which is a Canada based veterinary product company.

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According to Japan Pet Food Association (JPFA) there are around 9.7 million cats and 11.8 million dogs living with families in Japan and these numbers are growing every year. The average life expectancy of companion cats in Japan is 14.4 years and for dogs, it is 13.9 years. Rising adoption of companion animals by their owners as family members is expected to boost the growth of the market.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

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