Global Pet Store Market Is Expected to Reach USD 50.92 Billion by 2026 - GuruFocus.com

Global Pet Store Market Is Expected to Reach USD 50.92 Billion by 2026 - GuruFocus.com

Global Pet Store Market Is Expected to Reach USD 50.92 Billion by 2026 - GuruFocus.com

Posted: 18 Feb 2020 11:01 PM PST

As per the report published by Fior Markets, the global pet store market is expected to grow from USD 40.77 Billion in 2018 to USD 50.92 Billion by 2026 at a CAGR of 2.83% during the forecast period 2019-2026.

In the present scenario, pet stores are extremely popular in modern society. Many pet stores also offer retail products online, with the increasing trend of online e commerce platform. Ease and convenience is the key motivational factor for purchasing from online pet stores. As of 2018, the millennial population is the biggest pet owing population across the globe. Most of them amongst the population, who prefer to purchase pet products like toys, accessories, and food online, but favour in-store shopping for treats, bedding and clothing.

A pet store is a retail business outlet, which sells different kinds of animals. A variety of pet accessories and animal supplies are also available in pet shops. Typical products sold in the pet store includes food, toys, leashes, collars, cat litter, treats, cages and aquariums. In developed regions like North America and Europe, pet shops often offer both aesthetic services (such as cat and dog grooming) and hygienic care (such as pet cleaning). Some pet stores also provide advice on pet nutrition as well as tips on training and behaviour of pets.

Global pet store market is expected to witness rapid growth over the forecast period, owing to increasing pet humanization, pet ownership, the emergence of private label store brands, and growing urbanization. However, selling sick and injured animals, failing to provide proper veterinary care, and keeping animals in unsanitary conditions, are some of the factors hindering the growth of pet store market in the upcoming years.

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Key players operating in the global pet store market include Mars Inc., Nestle Purina Petcare, Well Pet, LLC, InVivo NSA, PetSmart Inc., PetCo Animal Supplies, Inc., Just for Pets, Wooftown, Big heart pet brands, and Legend of Zootopia among others. To enhance their market position in the global pet store market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

  • For instance, in October 2017, Mars Inc. announced the acquisition of pet health care company VCA Inc., to strengthen Mars' commitment to pet care, with a portfolio of veterinary service businesses including Banfield Pet Hospital, Bluepearl and Pet Partners, as well as pet nutrition brands such as Pedigree, Royal Canin, and Whiskas.
  • For instance, in January 2018, Nestlke SA entered into the India pet care market, with the new entity, Purina Petcare India Pvt. Ltd, which will operate as a subsidiary of Nestle SA, in India.


The pet food held largest market share of 36.35% in 2018

Product segment includes pet food, veterinary care, OTC/supplies, live, animal purchase, and pet grooming/boarding. The pet food held largest market share of 36.35% in 2018. The consistent increase in global consumer spending on pets and pet care product categories, boosting the growth of pet food across the globe. The pet food is generally sell through supermarket and pet store, owing to convenience and vast availability of pet food products offered by pet store and supermarket. The pet food is a by-product of the human food industry and not regarded as human grade. Increasing demand for premier taste and flavours is a major factor driving demand for pet food product innovations such as gourmet ingredients such as veal p'té, cranberry, béchamel sauce, turkey & meat and pumpkin purée with quinoa.

Cats held the largest market share of 44.07% in 2018

Animal type segment includes dogs, cats, birds and others. Cats held the largest market share of 44.07% in 2018, as most of the people prefer cat as a pet. Worldwide, about 60 cat breeds are recognized by various cat registries. Today nearly 70% of all U.S. households own a pet, with cats by far the most popular pet, according to the American Pet Products Association. Some 47.1 million of household in the U.S. that own cats.

Specialized shops held the largest market share of 58.77% in 2018

Distribution channel segment includes e-commerce, supermarkets/hypermarkets and specialized pet shops. Specialized shops held the largest market share of 58.77% in 2018. Specialized pet shops are those shops, which often offer both hygienic care and aesthetic services. Increasing demand for premium pet products, boosting the investment for specialized shops in the global pet store market.

Browse full report with TOC at https://www.fiormarkets.com/report/pet-store-market-by-product-pet-food-veterinary-411498.html

Regional Segment Analysis of the Pet Store Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the largest market share of 42.34% in the global pet store market. This is mainly attributed to increasing demand for pet food and pet grooming products across the region. Since the industry sells pets, including cats, birds, hamsters, dogs, and guinea pigs, an increase in pet ownership rates translates to higher revenue for the industry. In addition to this, Europe is second largest region, which holds the major market share in the global pet store market. For instance, according to FEDIAF data, an estimated 80 million European households own at least one pet animal, where 24% own one dog and at least 25% own one cat, boosting the demand for pet store market in the region. In addition to this, the biggest market for pet store in Europe are France, Germany, and UK, among others.

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About the report:

The global pet store market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

Customization of the Report:

The report can be customized as per client requirements. For further queries, you can contact us on [email protected] or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.

Contact Us
Mark Stone
Phone: +1-201-465-4211
Email: [email protected]
Web: www.fiormarkets.com

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