Global Pet Accessories Market to Reach $42.3 Billion by 2026

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May 19, 2021, 10:10 ET

SAN FRANCISCO, May 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Pet Accessories - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 19; Released: April 2021
Executive Engagements: 3186
Companies: 167– Players covered include Ancol Pet Products Limited; Ferplast S.p.A.; Rolf C. Hagen Inc.; Rosewood Pet Products Ltd.; Spectrum Brands Holdings, Inc.; Unicharm Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product (Pet Toys, and Other Products); Pet Type (Dogs, Cats, and Other Pet Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Pet Accessories Market to Reach $42.3 Billion by 2026
Emergence of pets as extended part of the family rather than just companion animals is driving consumer spending on pet care. Pets such as cats and dogs are known to offer comfort, companionship and support, addressing the human need for emotional connect and physical touch. Studies have demonstrated that interactions with a cat or dog reduce cortisol levels and blood pressure while improving secretion of oxytocin, dopamine and serotonin that relax the human body. Stay-at-home restrictions due to COVID-19 outbreak have presented the perfect opportunity for pet ownership and spending time with pets. Amid the COVID-19 crisis, the global market for Pet Accessories estimated at US$29.4 Billion in the year 2020, is projected to reach a revised size of US$42.3 Billion by 2026, growing at a CAGR of 6.3% over the period. Pet Toys, one of the segments analyzed in the report, is projected to record 6.9% CAGR and reach US$19.8 Billion by the end of the analysis period.

The U.S. Market is Estimated at $12.2 Billion in 2021, While China is Forecast to Reach $5.6 Billion by 2026
The Pet Accessories market in the U.S. is estimated at US$12.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.6 Billion by the year 2026 trailing a CAGR of 8.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Housing and bedding products designed for pets are gaining popularity specifically in developed economies of North America and Europe. Manufacturers targeting these regions are emphasizing on product innovations to provide assistance to pet owners in adopting a convenient lifestyle. On the other hand, the market for pet toys is making strong gains in both developed and developing economies. Purchases of pet toys are growing led mainly by the increasing desire of pet owners to ensure sustained activity for their pets. With safety of pets becoming a prime concern for pet owners, demand is growing for natural and organic accessories and toys. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.