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.

DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/411498/request-sample

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.

For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=411498&type=single

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

The post appeared first on The Wired Media PR distribution service. You can contact us on [email protected] for press release services.

About the author:

The Wired Media

TheWiredMedia is press release service provider that helps companies around the world to publish and promote their news articles on various platforms like Google News, Apple News, Magazines, Discussion Portals as well as social media websites.

Visit The Wired Media's Website

Comments

Post a Comment

Popular posts from this blog

This fish is worth $300,000 - New York Post

This fish is worth $300,000 - New York Post This fish is worth $300,000 - New York Post Posted: 05 Jun 2016 12:00 AM PDT With exacting precision, the surgeon inserted the scalpel above the eyeball and cut out a snotty deposit of fatty tissue. The routine eye-lift was nearly complete when suddenly the patient awoke, suffocating, and began to flop about on the table. The audience gasped. Knowing time was of the essence, the surgeon scooped up the patient in his arms, raced across the stage, and dropped her into a tank of water. She revived. Because she was a fish. Yes, fish eye-lifts exist. As do fin jobs and tail tucks. The operating theater was a mall in Jakarta, Indonesia, where a pet expo was under way. As for the patient, she survived, her formerly droopy eyes now bright and perky. A good thing, too, as this was no ordinary goldfish but rather an Asian arowana, the world's most expensive aquarium denizen, rumored to sell for as mu
Read more

NilocG Launches New Website for the Only All-in-One Thrive Fertilization Solution for Planted Aquariums - PRNewswire

Image
NilocG Launches New Website for the Only All-in-One Thrive Fertilization Solution for Planted Aquariums - PRNewswire NilocG Launches New Website for the Only All-in-One Thrive Fertilization Solution for Planted Aquariums - PRNewswire Posted: 11 Mar 2021 02:00 AM PST ALBANY, Ore. , March 11, 2021 /PRNewswire/ -- NilocG launches a new website for planted tank enthusiasts to gather and make THRIVE, a plant fertilizer that assures planted tank aquascapes flourish while eliminating the need for multiple products more readily available online. The company also takes it a step further in the industry, making its flagship product easy to dose, super-concentrated, and an all-in-one solution based on an effective EL dosing method with all essential micro and macronutrients. Continue Reading Thrive fertilizer: North America's most trusted aquarium plant fertilizer Colin Grice , CEO, a self-described planted tank lover, re
Read more

Catching Dory: selling aquarium fish supports coastal livelihoods in Indonesia | npj Ocean Sustainability - Nature.com

Image
Abstract The global marine aquarium trade has created new local markets across the planet, including in Indonesia, now the second-largest exporting country of marine aquarium fish in the world. Participating in the global aquarium trade has been touted as a potentially sustainable addition to fisher livelihoods, but scant data exist showing the numbers of fish coming off the reef and how those fish contribute to income. To determine how participants in the trade incorporate aquarium species in their livelihoods, we examine source-level aquarium fish collecting and trading data in the Banggai Archipelago, a region in Central Sulawesi that has become a significant source for popular aquarium, also known as ornamental, fish species. Using a sustainable livelihoods lens, we examine this data to understand how participants in the aquarium trade both contribute to as well as benefit from the trade and consider how their participation relates to emerging Blue Justice principles. From one year
Read more