With the growing interest in pets, and the growth of all pet care segments, the whole market is booming.
From 2020 to 2021, the market has had a growth of 4.09%. Until 2025, the pet care market is expected to rise by $48.94 billion. The yearly growth should be around 5% with accelerating momentum.
This comes as no surprise since, in 2020, the market blew up and got to $99 billion in the US alone.
Natural and organic products are having their best moment right now, and it’s expected that their sales will continue to grow. Natural CBD treats, chemical-free topicals, and many other organic products are selling more than ever.
Another big segment of pet care is pet fashion. Owners that are ready to spend more money on making their pets look their best are likely to be the buyers.
Fashionable dog and cat walking accessories, grooming products, and many other products are introduced daily to satisfy the needs of the market.
The key countries in the 2021–2025 period are going to be the US, China, and Germany, where the pet numbers are growing the most.
Moreover, 36% of the market growth should come from North America, but it won’t have the highest growth of all countries.
The only factor that can lead to lower sales in the whole pet care market is raising recognition of pet-caused allergies. The number of people allergic to animals is rising, and due to pollution, there are more animal-transferred bacteria too.
The fear of allergies and illness is causing people to opt-out of pet adoption, so if the trend continues, pet care sales will follow.
All in all, if there are no major changes, the pet care market will continue to grow and make the pet industry one of the most profitable industries today.