Increase In Pet Adoption Globally
There has been an increase in the rate of pet ownership across the world which has led to increased demand for pet grooming products. Regions such as North America, and Europe, are witnessing an increase in the number of pet adoptions which has projected these regions to be a favorable market for pet grooming products. Factors such as life stage (single vs. couples), size of household, and the income of the consumers may contribute to the increased prevalence of pet ownership amongst the population. According to the American Pet Product Association (APPA) National Pet Owners Survey, 70% of the US households own a pet, which equates to 90.5 million homes.
A continuous rise in pet population and ownership contributes to the growth in pet product sales in domestic and international markets. Due to the rising trend of pet humanization, there is a growing interest among pet owners toward pet’s health and nutrition, which in turn boosts the sales of pet grooming products. The rising trend of adopting pets as a companion for families is projected to propel the demand for pet grooming products in the coming years. Pet adoption has resulted in a surge in the number of pet products, such as shampoo, conditioner, shear and trimming tools, combs, and brushes, on the market. Additionally, the growing concern for pet health and elevating disposable income of pet owners are among the major factors that drive the growth of the pet grooming products market.
Some of the key players operating in the global pet grooming products market include Ancol Pet Products Limited; Beaphar; Wahl Clipper; The Hartz Mountain Corporation; Johnson’s Veterinary Products Ltd.; Earthwhile Endeavors, Inc.; Coastal Pet Products, Inc.; Nexderma; Glo-Marr Pet Products; and Resco Pet Products. The major players in the pet grooming products market are focusing on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.
