The global pet product market is expanding at a rapid pace, with the increasing popularity of smart pet appliances such as automatic pet dryers and feeders. The pet care market size was valued at USD 235.32 billion in 2022 and is projected to grow from USD 246.66 billion in 2023 to USD 368.88 billion by 2030, exhibiting a CAGR of 5.92% during the forecast period. The increasing pet spending trends are not limited to food and treats; the growing number of pet industry trends has branched out to pet health and wellness, grooming, and accessories. The global pet market is worth $261 billion.
The pet industry is experiencing a shift towards smart pet appliances, which are gaining popularity among pet owners. These appliances are designed to make pet care easier and more convenient. Automatic pet feeders, for example, allow pet owners to feed their pets on a schedule, even when they are not at home. Similarly, automatic pet dryers help pet owners dry their pets quickly and efficiently, without the need for towels or hairdryers. The demand for these smart pet appliances is expected to increase in the coming years, as pet owners look for ways to make pet care more convenient and efficient.
Another trend in the pet industry is the rise of trusted pet brands. Pet owners are increasingly looking for high-quality products that they can trust. This has led to an increase in demand for trusted pet brands, which offer high-quality products that are safe and effective for pets. The rise of trusted pet brands is expected to continue in the coming years, as pet owners become more discerning about the products they use for their pets.
Dietary supplements for pets were in greater demand in 2020. The demand for pet supplements is expected to continue to grow in the coming years, as pet owners become more aware of the benefits of supplements for their pets. Pet supplements are designed to provide pets with the nutrients they need to stay healthy and active. They are available in a variety of forms, including tablets, capsules, and powders.
The other rapidly evolving market is pet grooming. Pet grooming is becoming increasingly popular among pet owners, as they look for ways to keep their pets looking and feeling their best. The demand for pet grooming products is expected to continue to grow in the coming years, as pet owners become more interested in grooming their pets at home. Pet grooming products are available in a variety of forms, including shampoos, conditioners, brushes, and combs.
In conclusion, the global pet product market is expanding at a rapid pace, with the increasing popularity of smart pet appliances such as automatic pet dryers and feeders. The pet care market size is projected to grow from USD 246.66 billion in 2023 to USD 368.88 billion by 2030, exhibiting a CAGR of 5.92% during the forecast period. The pet industry is experiencing a shift towards smart pet appliances, trusted pet brands, dietary supplements, and pet grooming products. These trends are expected to continue in the coming years, as pet owners become more discerning about the products they use for their pets.
