Pet care market is anticipated to grow at a CAGR of 5.6% during the forecast period (2024-2031). Increasing pet ownership, changes in demographics, a trend towards treating pets as family members, and a high focus on the health and wellness of pets are major factors driving the growth of the global pet care market. The increased awareness regarding pet care with the easy availability of pet care products is a key factor driving the global market. The market's expansion is also fueled by the growing demand for premium, organic, and natural pet products, as well as specialized services.

Market Dynamics

Increasing Pet Ownership 

The rising trend of pet ownership is driving an increase in demand for pet care products among households. According to the 2023 American Pet Products Association, Inc. (APPA) National Pet Owners Survey, 66.0% of US households own a pet, which substitutes for 86.9 million households.

 Number of US Households that Own a Pet                                     Pet Ownership by Generation

Source American Pet Products Association, Inc. (APPA)

Increased Awareness of Pet Health

The growing awareness of pet health and wellness is leading to a preference for nutritious and organic pet foods. In April 2024, ProMach launched a Pet Care Solutions Group, offering specialized processing and packaging solutions for the pet care industry. The group, supported by industry experts from over a dozen brands, aims to ensure the freshness, taste, and shelf stability of pet food products. 

Market Segmentation

• Based on pet type, the market is segmented into dog, cat, fish, and others (bird care, and small mammal care).

• Based on product type, the market is segmented into pet food, pet grooming, and pet care.

• Based on the distribution channel, the market is segmented online, and offline.

Dog Holds a Considerable Market Share

The increase in dog ownership that occurred in Australia during the pandemic can be attributed to a variety of demographic groups, including experienced pet owners, individuals with knowledge of pet care, and those new to the world of owning a pet. According to Animal Medicines Australia, in 2022, approximately 48.0% of households in Australia own a dog, which amounts to an estimated 6.4 million pet dogs across the country. On average, dog-owning households have 1.3 dogs, with the majority (75.0%) having only one dog and a significant portion (21.0%) having two dogs. Since the start of the pandemic, nearly 37.0% of dogs in Australia have been acquired, with various demographics represented among the new owners, including experienced pet owners (42.0%), individuals who grew up with family pets (20.0%), those who have lived with other people's pets (14.0%), and individuals with no prior pet experience (24.0%). Additionally, around 36.0% of these newly acquired dogs were born before the pandemic, with 14.0% being five years old or older.

Dog Population in Australia (%)

Source: Animal Medicines Australia

Pet Food Holds a Considerable Market Share

The demand for pet foods promoting health and wellness is increasing, with plant-based diets being seen as healthier alternatives to traditional meat-based options. For instance, in January 2024, PawCo Foods introduced two plant-based dog food products, LuxBites and InstaBites, using AI for nutrition optimization and palatability improvement. InstaBites is a shelf-stable, low-cost alternative to kibbles, while LuxBites is a premium fresh food with postbiotics and fermented protein.

Regional Outlook

The global pet care market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Regulatory Environment In Asia-Pacific Region

The favorable regulatory environment plays an essential role in promoting consumer confidence and market growth by ensuring the quality and safety of pet care products. For instance, in October 2023, Scientific Remedies launched Affinity Advance, the flagship brand of Affinity Petcare, in India as part of a collaboration aimed at providing high-quality pet food to pet parents in India. Affinity Petcare, based in Spain, specializes in therapeutic nutrition.

Pet Care Market Growth by Region 2024-2031

North America Holds Major Market Share

Technological advancements such as wearable tech for pets, smart pet devices, and online pet services are expanding the market and driving consumer spending, which propels regional market growth. According to the American Pet Products Association (APPA), in March 2024, the total expenditures in the US pet industry reached $147.0 billion. These expenditures were divided into four major categories such as pet food and treats accounted for $64.4 billion; supplies, live animals, and over-the-counter medicine accounted for $32.0 billion; vet care and product sales accounted for $38.3 billion; and other services such as boarding, grooming, insurance, training, pet sitting, and walking accounted for $12.3 billion. The APPA additionally projected significant year-over-year growth in the sector before 2030.?

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the pet care market include Colgate-Palmolive Co., General Mills Inc., Nestlé Purina PetCare, Spectrum Brands Holdings, Inc., and The J.M. Smucker Co. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in July 2022, Emami acquired a 30.0% stake in pet-care start-up Cannis Lupus, focusing on natural, ayurvedic, and chemical-free products for pets. The company plans to scale up its business under the brand 'Fur Ball Story'.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global pet care market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.