MarketResearchReports.biz has recently announced the addition of a new study on the global market for pet care to its vast repository. The report, titled “Global Pet Care Market 2016-2020,” presents an all-inclusive analysis of this market, highlighting the trends and the growth prospects. As per the study, the growing preference of consumers for natural and organic pet food is having a positive impact on the global pet care market. The increasing premiumization of pet care products is also influencing the growth of this market significantly. Analysts predict this market to grow at a CAGR of 4.72% during the period from 2016 to 2020.
The report studies the global market for pet care on three fronts: The type of product, the type of pet, and the geography. Based on the type of product, the market has been classified into pet food, pet accessories, and pet grooming. The demand for pet food is likely to increase at a higher rate than other products in the coming years. The segment is expected to account for a share of more than 87% in the overall market by the end of the forecast period.
By the type of pet, the report has segmented this market into cats, dogs, fishes, and birds. The high preference for dogs as pets is expected to increase the need for pet care in the segment of dog at a higher rate than other pets over the next few years, states the report.
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On the geographical basis, the report has identified Asia Pacific, North America, Europe, and the Rest of the World as the main segments of this market. Thanks to the increasing rate of pet ownership and the rise in spending on premium pet care products, North America is anticipated to lead the global market throughout the forecast period. It is expected to account for a share of over 40% in the overall market by 2020, notes the study.
Currently, the global market for pet care demonstrates a fragmented competitive landscape due to the presence of a large number of participants. How, the intense rivalry between these players is likely to lead to market consolidation in the near future, finds the study. The leading companies in the worldwide market for pet care are Nestlé, Mars, JM Smucker, Beaphar, and Ancol Pet Products.
Aller Petfood, BHJ Pet Food, Barking Heads and Meowing Heads, Blue Buffalo, BOSHEL, Bob Martin, Chelsea Dogs, earthbath, Diamond Pet Foods, Ferplast, Johnson's Veterinary Products, Inaba Petfood, Just for Pets, Pet Brands, Oster, Pettex, Reef One, Platinum Pets, Rolf C Hagen, Tetra, Rosewood Pet Products, The Hartz Mountain, Yantai China Pet Foods, and Vitakraft are some of the other market participants, mentioned in this report.
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