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The drive for companionship creates never ending demand for pet care products - Actual Market Research
May, 19
2020

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The drive for companionship creates never ending demand for pet care products - Actual Market Research

 

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The North American pet care market is growing day by day and is one of the largest booming markets in terms of pet care. The North American region is very huge, consisting of many developed and underdeveloped countries, but the love and affection towards pets is rising gradually. People now have very stressful lives due to long working hours. Because of that, people are turning towards owning a pet so they can play with them, take care of them, and spend time with them to reduce their stress. Dogs and cats are the most adopted pets in North America. Dogs are adopted more due to their human-friendly nature and loyalty. The increased adoption rate has allowed the pet care market to grow, which has led the other segments such as the pet food market, pet grooming market, pet accessories market, and pet healthcare market to grow on their own. The United States of America has the largest market share in the North American pet care market, followed by Mexico, Canada, and the rest of the North American countries that contribute to this market. The never-ending demands for pet care and pet supplies are increasing in both domestic as well as foreign markets because of the improvement in quality and the increase in the availability of varied products.

Market Insights

According to the report, ‘North America Pet Care Market Research Report, 2027’, the market was valued at around USD 64 billion in 2021. Furthermore, the North American market is anticipated to grow at more than 3.5% CAGR during the forecast period. The reason behind this growth is that people's awareness towards pet health made the pet food companies make natural organic, grain-free foods for their pets. The retail segment and distribution of pet food are available in every locality, having various ranges of products with a market share of approximately 60–70%. Many underdeveloped and small middle-class countries, such as Cuba, the Dominican Republic, and Panama, have a preference for inexpensive and easily accessible products, which are available through these types of local stores.Products are also provided in bundles with discounts.

Innovations in the market

The pet care market in North America has always been affected by innovations. from traditional product sales through retail stores to the e-commerce direct to home delivery trend The transition from traditional pet grooming to mobile grooming has changed the grooming market. Currently, one such trend is going on is pet yoga, where they train your pet to do yoga, which helps it to stay healthy. Various private yoga teachers and classes are running in North American countries like the USA, Canada, etc. The pet food segment has also been affected by innovations, and one such innovation is hierarchical pet food packs for various dog breeds based on their age group. The current ongoing trend of mobile pet grooming is taking the grooming industry to new heights. Pet owners want to give their pets a healthy lifestyle, so for that they look after their pets' all-round well-being. In a mobile grooming service, a team of professionals comes to your doorstep with a fully equipped vehicle and provides the entire necessary pet grooming services like combing, hair care for pets, nail clipping, and bathing. All are provided at your doorstep. Pet owners' hectic schedules and long working hours fueled the growth of pet mobile grooming services. Owners do not need to leave their homes for grooming services; they can obtain these services at their leisure and comfort. Many companies are now emerging that provides this type of grooming service as this ongoing trend is expected to increase more in the future.