Pet Grooming Products Market to Grow Rapidly, with Increased Expenditure on Premium Shampoos and Conditioners, Opines Fact.MR
Published : 31 Jan 2020 Industry: Consumer Goods
The global pet grooming products market is picking up pace and is expected to rise with a moderate CAGR of ~4.5% by the end of the forecast period (2019-2029). The industry is witnessing upward movement in recent months, which is forecasted to continue through the years ahead. The rise can be largely attributed to higher disposable incomes, increased expenditure on pet care, and humanization of animals by urban pet owners.
The market is further aided by the growing accessibility to pet grooming professionals in many parts of the world, which is increasing convenience for mobile grooming facilities, which also bolsters efficiency and saves time, cutting costs and support the pet grooming market in the years ahead.
Key Takeaways of Pet Grooming Products Market Study
- Shampoos and conditioners are the fastest growing products in the pet grooming products market accounting for more than 60% share, and are anticipated to maintain their dominance throughout the forecast period. The growth can be largely be attributed to the higher importance being given to basic hygiene in companion animals. In addition, the increasing presence of professional pet grooming services also contributes to a substantial demand for shears and other trimming tools.
- Despite a moderate CAGR, North America accounts for more than 50% of the global pet grooming products market share, owing to high rates of pet ownership in Canada and the United States. However, nations in East Asia and South Asia & Oceania are anticipated to display a higher rate of growth for the foreseeable future, with japan and China contributing to most of the demand in the region.
- Offline channels of distribution are accounting for a major revenue share of more than 75%, with large contributions coming from convenience stores, supermarkets, hypermarkets, and other retail stores, which can be attributed to consumer preference for physical displays. However, the increased penetration and interest in internet is driving up the use of ecommerce platforms.
- Dogs continue to be the most popular pet type with a constantly rising rate of adoption, with more purchases being seen from childless or single parents, the concept of pet parents are gaining traction and are supporting the use of premium pet products, which provide a wider range of options and make use of organic ingredients.
“Luxury grooming services for pets such as hairstyling, spa, massage and others have encouraged pet owners to spend more money on these products in recent years. Therefore pet grooming product companies enjoy widening consumer demographics, and the popularity of pet grooming is leading the market towards profitable future.” says the Fact.MR analyst.
Role of Mobile Pet Grooming Services Become Prominent
Consumers are increasingly opting high quality pet food, premium accessories, and a wider range of pet grooming services, which support the growth of the market. Mobile pet grooming services have also become increasingly popular around the world, which involves the use of specialized vehicles to bring pet grooming services to the pet owner’s doorstep, and cuts down on the long wait times associated with conventional pet grooming businesses, which will contribute significantly to the global market.
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides a comprehensive analysis of the global market for pet grooming products, with historical data on demand (2014-2018) and expected projections for the period 2019-2029. The report reveals detailed insights into the demand for pet grooming products based on product type (shampoos and conditioners, shear and trimming tools, combs and brushes, and others), distribution channel (online and offline), and key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East and Africa).
About the Retail and Consumer Goods Division at Fact.MR
As a consortium of large number of sub-industries, not many market research companies are able to fulfil the requirements of consumer product clients. However, retail and consumer goods analysts at Fact.MR have been tracking these broader sub-industries to keep themselves abreast of the recent developments in the market. With unmatched analytical diligence, the team at Fact.MR helps organizations design effective product differentiation strategies and helps add exclusive product(s) to their existing portfolio.