Valued to be $45.1 Billion by 2026, Pet Accessories Slated for Robust Growth Worldwide

SAN FRANCISCO, March 16, 2022 /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.

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Edition: 20; Released: February 2022
Executive Pool: 3211
Companies: 167 - Players covered include Ancol Pet Products Limited; Beeztees; Cycle Dog; Petmate (Doskocil Manufacturing Company, Inc.); Ferplast S.p.A.; Honest Pet Products; Innovation Pet, Inc.; MidWest Homes for Pets; Central Garden & Pet Company; Petstages, Inc.; Rolf C. Hagen, Inc.; Rosewood Pet Products; Spectrum Brands Holdings, Inc.; Simply Fido LLC; The Hartz Mountain Corporation; Worldwise, Inc. 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; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Pet Accessories Market to Reach $42.3 Billion by 2026
Pet accessories are described as specialty products designed for use by pet animals. Accessories for pets have come a long way. Today, the commercially available pet accessories are available in limitless choices at different price points, and differ by breed type, life-stage, shapes and sizes. Comprising products such as toys, bedding products, collars, leashes, harnesses, grooming products among several others, pet accessories are sold through both online and offline distribution channels, with specialty stores leading the offline segment. 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$32.7 Billion in the year 2022, 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 $12.9 Billion in 2022, While China is Forecast to Reach $5.6 Billion by 2026
The Pet Accessories market in the U.S. is estimated at US$12.9 Billion in the year 2022. 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 analysis 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.
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Zak Ali
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Phone: 1-408-528-9966
www.StrategyR.com
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