North America Pet Care Market Outlook to 2027: The Need for a Companion is the Main Force That is Pushing the Pet Care Market to Grow

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Jan 03, 2023, 18:00 ET

DUBLIN, Jan. 3, 2023 /PRNewswire/ -- The "North America Pet Care (Food Grooming Accessories & Healthcare) Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at around USD 64 billion in 2021. Furthermore, the North American market is anticipated to grow at more than 3.5% CAGR during the forecast period.

North America is the largest region in the pet care market globally. North America's pet care market is highly supported by the dynamic growth and revenue generated from countries like the USA, Mexico, and Canada.

Currently, technology is also having an impact on the pet care industry in the region. One of the trends experienced in the market is dedicated pet apps, which are specially developed for pets. It allows pet owners to keep track of their pets' health habits, nutritional intake, and playtime.

The need for a companion is the main force that is pushing the pet care market to grow. The North American pet care market is currently a booming market. Pet care services such as grooming, training, and adoption are becoming more popular. In this regard, the millennial plays a significant role in pet adoption because they regard pets as humans and want to care for and provide for them.

Pet food is the largest segment of North America's pet care. Growing attraction towards healthy, nutritious, and organic foods has been experienced as a major trend in the market. The North American pet food market has grown significantly during the historic period, where the revenue from dog and cat food has been registered the highest.

The region's pet service segment such as healthcare, accessories, and grooming products has diverted the attention of consumers to provide the pets with new aged facilities. Pet owners nowadays are more inclined towards taking the utmost care of their pets, which has resulted in the consumer's attraction towards pet grooming services. For such a growing attraction, the grooming segment of the pet service sector has grown at the fastest pace historically and will continue to show the same trend in the coming years.

The North American pet grooming market growth evaluation includes the analysis of Canada and the United States. In the United States, dogs are the most popular household pet. As per the AVMA (American Veterinary Medical Association), more than 76 million pet dogs are cared for by 48 million households.

The other preferred animals include reptiles, rabbits, and fish. Fish are the third most popular pet in the country, with almost 12% of households having at least one fish. Additionally, according to a Reptile Cove Survey, there are 9.4 million pet reptiles across the US, with each pet household having a reptile or two.

Besides, hamsters, poultry, and rabbits are also widely adopted as pets in the US. Moreover, the presence of leading pet grooming product companies, the rising awareness of pet health, and increasing disposable income offer growth opportunities.

An increasing number of consumers are embracing pet owners and pet-loving lifestyles, which is accelerating the trend of pet humanization. Pet humanization is influencing the market growth with a rising number of companies engaged in launching interesting and premium pet care products.

An increase in animal expenditure across the globe is contributing to the market growth. Growing pet adoption across the globe and the rising prevalence of food-borne and zoonotic diseases are some of the factors further uplifting the market growth. In addition, pet care market growth is majorly driven by the increasing demand for protein and other supplements in animal food and a growing preference for pet insurance.

In addition, the growing prevalence of the COVID-19 pandemic is urging the American population in the U.S. to foster and adopt animals.

According to the obtained data, there are approximately more than 300 million pets in America. Furthermore, the American Society for the Prevention of Cruelty to Animals (ASPCA) predicts a 70% increase in animal fostering care in New York City and Los Angeles in 2020.

Hence, the above-mentioned factors will significantly foster the growth of the North American pet care market in the coming years. In addition to that, growing demand for pet insurance across the region will stimulate the North American pet care market's growth.

The cost of pet care is increasing with the technological advancement of veterinary medicine. This can be attributed to high costs associated with the equipment, facilities, and training required to provide these higher-quality services. Thus, pet health insurance helps by offsetting some of the costs of treating and managing illness or injury and diagnosing. Consequently, the demand for pet insurance has considerably surged in the last few years.

COVID-19 Impacts:

Most of the consumers in the market grappled with the onset of the COVID-19 pandemic, in terms of stockpiling pet food products, by switching to the e-commerce retail platforms after being compelled by several restrictions levied on the brick-and-mortar stores and the disruption of the overall supply channel in general. However, major players have shifted their focus from retail stores to e-commerce platforms by increasing their investments in developing their websites. Thus, this pandemic did not affect the market much.

Major companies present in the market

Nestle SA, Mars Incorporated, Colgate-Palmolive, J M Smucker, Blue-Buffalo, Champion Pet Foods, United Pet Group, a Spectrum Brands Company, PLB International, Scott Pet, Inc., Unicharm Corporation, Laroy Group, Well Pet

Considered in this report

Geography: North America
Historic year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Market Structure
3.1. Market Considerate
3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Pet Population Analysis

6. Global Pet Care Market Outlook
6.1. Market Size By Value
6.2. Market Share
6.2.1. By Region
6.2.2. By Country
6.2.3. By Company
6.2.4. By Segment Type
6.2.5. By Sales Channel

7. Global Pet Food Market Outlook
7.1. Market Size By Value
7.2. Market Share
7.2.1. By Region
7.2.2. By Country
7.2.3. By Food Type
7.2.4. By Pet Type
7.2.5. By Ingredients

8. Global Pet Healthcare Market Outlook
8.1. Market Size By Value
8.2. Market Share
8.2.1. By Region
8.2.2. By Country

9. Global Pet Accessories Market Outlook
9.1. Market Size By Value
9.2. Market Share
9.2.1. By Region
9.2.2. By Country

10. Global Pet Grooming Market Outlook
10.1. Market Size By Value
10.2. Market Share
10.2.1. By Region
10.2.2. By Country

11. North America Pet Care Market Outlook

12. Policy and Regulatory Landscape

13. Market Dynamics
13.1. Market Drivers
13.2. Market Challenges

14. Market Trends and Developments

15. Competitive Landscape
15.1. Porters Five Forces
15.2. Company Profiles

16. Strategic Recommendations

17. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/vc4nop

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