The global market for Pet Accessories is projected to reach US$41.1 billion by 2025, driven by the emerging pet loving culture worldwide made hugely popular by media coverage on celebrities and their furry friends. Pet population comprising dogs, cats, birds and other animals is on the rise. Few of the factors responsible for rising pet population include aging population and empty nesters who adopt pets to fill the void; increase in households with multiple pets; higher incomes; and growing number of single person households and unmarried or childless households. Growing number of households with children are also adopting pets with research studies revealing pets to have a positive impact on children such as preventing depression and loneliness; develop motor skills by feeding and grooming dogs; encourages outdoor activity such as regular walks with dogs; promotes emotional development by encouraging responsibility involved in caring for pets; and ability to treat behavioral problems in kids. Utilitarian and functional use of pets has decreased over the last couple of years. Pets today are part of the family and therefore households are beginning to spend on pets on par with children. Emergence of “pet parents” as part of the humanization of pets trend, is a key revenue generating trend in the pet industry.  Adroit players in the industry are already differentiating between pet owners and pet parents/pet guardianship. Per capita spending by pet parents on pets is significantly higher as compared to pet owners and they therefore represent a lucrative target customer cluster for pet accessories.     

Human love for pets transcends geographic boundaries. In France, French Cafes offer fine dining for pups; in Japan, architects design cat-friendly spaces in homes; companies in the UK offer paid paw-ternity leave for pet parents; in Norway, Norwegians spend the highest on expensive pup food; and in Sweden, regulations are enforced to ensure pets live healthy, happy lives. Read More…

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  1. Emma RobertsJuly 17, 2020 at 8:17 AM

    I really appreciate this post. Thank you so much for sharing this superb blog, this is really helped me a lot. As well as I referred pet accessories, and I hope it will also help more to all.

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