{"id":601025,"date":"2022-05-23T06:04:01","date_gmt":"2022-05-23T06:04:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=601025"},"modified":"2022-05-23T06:04:01","modified_gmt":"2022-05-23T06:04:01","slug":"pet-care-market-size-is-expected-to-account-for-23214-billion-by-2030-owing-to-increasing-appeal-of-pet-fashion-among-pet-owners-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/pet-care-market-size-is-expected-to-account-for-23214-billion-by-2030-owing-to-increasing-appeal-of-pet-fashion-among-pet-owners-grand-view-research-inc_601025.html","title":{"rendered":"Pet Care Market Size Is Expected To Account For $232.14 Billion By 2030 Owing To Increasing Appeal of Pet Fashion Among Pet Owners | Grand View Research, Inc."},"content":{"rendered":"
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Grand View Research, Inc. \u2013 Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
According to a new report published by Grand View Research, the global pet care industry is predicted to boost based on high demand for pet furniture which is often preferred by people who live in flats & apartments and do not have a lawn or porch where their pets can live.<\/div>\n

Pet Care Industry Overview<\/strong><\/p>\n

The global pet care market size was valued at USD 148.10 billion in 2021 and is expected to reach USD 232.14 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030.<\/p>\n

The rising trend of pet humanization is expected to increase consumer spending in the household and pet care categories. People are also adopting cats, dogs, and other pets as they are easier to humanize and indulge than larger pets. They are willing to spend a lot of money to ensure that their pets have the best possible living experience. As a result, pet care products such as feeders, bowls, and waterers have also become prominent.<\/p>\n

Gather more insights about the market drivers, restrains and growth of the <\/strong>Global Pet Care Market<\/p>\n

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Many people were forced to stay at home for an extended amount of time as a result of COVID-19’s impacts, whether owing to shelter-in-place orders or work-from-home advice. As a result, pet shelters recorded an increase in adoptions and fostering. The pet sector has been exploding in recent years. According to the American Pet Products Association, about 85 million households own a pet, with pet ownership increasing from 56 % to 68 % in the last 30 years. Technology and the introduction of internet purchases have contributed to some of the changes in pet ownership.<\/p>\n

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However, the majority of the expansion of the market is due to cultural shifts. As millennial and Generation Z consumers have grown into adulthood, they have embraced their pet-owning and pet-loving lives significantly more than their predecessors. In 2020, households headed by the younger generation accounted for over 60% of pet ownership, whilst households headed by baby boomers accounted for about 30% of pet ownership. <\/p>\n

Furthermore, pet owners are demonstrating a strong desire to learn more about pet health issues. They are promoting companion animal preventive care. As a result, responsible pet ownership has been increasingly popular in recent years. This is also a crucial trend that is driving pet care product sales and, as a result, the pet care industry.<\/p>\n

Moreover, people are making lifestyle upgrades to mark their share in reducing the ecological footprint in daily lives which includes pet products too. A significant share of pet accessories is made with more sustainable and recyclable materials instead of plastics. For instance, in February 2022, Neo Bites became the first Carbon-negative dog food company in the US.<\/p>\n

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Pet Care Market Segmentation<\/strong><\/p>\n


Based on the Pet Type Insights, the market is segmented into <\/strong>Dog, Cat, Fish, Bird, Others     <\/strong><\/p>\n