Feb 05, 2020
Pet Water Fountain Market Resurgent with Impetus Received from Investments, Says Fact.MR
by Team Fact.MR
Pet water fountains are coming up as a flourishing business among pet supplies, owing to which it is receiving financial support from external investors. With optimized cash inflow, pet water fountain market is projected to garner an absolute dollar opportunity of around US$222 Mn between 2019 and 2029. Fund managers, especially exchange traded funds (ETF) have shown keen interest in pet businesses. Proshares, one of the ETF providers has dedicated an ETF known as PAWZ for pet businesses. PAWZ gives investors the opportunity to gain broad exposure to public companies in the global pet care industry. Gabelli Pet Parent Find NextShares is another ETF that has been actively investing in pet businesses. A few years back Ratan Tata, an India based industrialist invested in Dogspot.in, as a continuation of its investment strategy for startups. With renewed focus on large scale investments, the pet water fountain market is set to gain prominence during the forecast period.
Key Takeaways of Pet Water Fountain Market -
- Plastic-based pet water fountains accounted for more than 50% of the market in 2018. Decelerating costs of plastic-based pet water fountains as compared to steel, ceramic & stoneware variants makes plastic-based pet water fountain a preferable option for pet owners.
- East Asia accounts for more than 1/5th of pet fountain market share, and is expected to exceed the European market by end of forecast period. Pet ownership rose at an abrupt pace in the past three-four years in East Asia, consequently leading to high growth in pet water fountain market.
- In 2018, pet supply stores were the largest revenue streams for pet water fountains. However, by the end of forecast period, online stores are expected to surpass it.
- Pet fountain market is consolidated with top three players accounting for more than 55% of revenue share. Hagen Group leads the competition with a strong performance of its brands Catit, Dogit and Zeus in the global market.
“Manufacturers of pet water fountain have an opportunity to expand outside their established bases through engagement with local partners.” says the Fact.MR analyst
Garnering Customer Loyalty and Product Differentiation Remain Key Strategies
Tier 1 companies including Hagen Group, Doskocil Manufacturing, and Radio Systems Corporation commanded a revenue share of over US$ 55 Mn in 2018. While leading manufacturers have a large pool of loyal customers, mid and low Tier companies are focusing on product differentiation. Tier 1 companies also enjoy a price monopoly as the customers in the developed geographies are willing to pay higher for known brands. Apart from these, there exists a large pool of brands in the semi-organized and unorganized markets that target new pet owners and customers with low budget. It is expected that Tier 2 band of the market will become thicker in the years to come as companies such as iPettie, Pecute and isYoung are practicing robust growth strategies for penetration into newer markets.
Find More Valuable Insights on Pet Fountains Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global pet fountain market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the pet fountain market on the basis of material (plastic, steel, and ceramic and stoneware), pet (cat, dog, and multi-pet), drinking level (single drinking level and multi drinking level), mechanism (gravity based and battery/electricity based), filtration (charcoal filters, multi-level filtration, and without filter), and sales channel (pet supply stores, supermarkets and hypermarkets, and online retail) across seven major regions.
>>> To Get more insights on pet fountain market, visit- https://www.factmr.com/report/4505/pet-water-fountain-market
About the Retail and Consumer Goods Division at Fact.MR
Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, Fact.MR retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more retail domain insights, visit here.