Custom Dog Tags Market and Forecast
According to the latest report by Fact.MR, the global Custom Dog Tags market is on the impulse to showcase considerable growth during 2021-2031. In the short term, dog tag sales are expected to increase modestly, but in the long run, they are expected to boom. The worldwide market from western countries is expected to attract attention and propel development even further, resulting in the best possible outcome.
The growing adaption rate among the people to protect their dogs getting misplaced is surging the demand for tags giving rise to an expansion in the market.
What are the driving factors for Custom Dog Tags Market?
The rise in the adoption rate is the prime reason for the stimulation of market growth. Manufacturers and consumers are becoming more conscious of the importance of providing the best possible care for their pets, resulting in rising trends and standards.
The prime reason for elevated sales of the product is a rise in the percentage of lost dogs over the past few years. Approximately 14% of dogs get lost annually out of which 93% are being found by the owners due to dogs tags on them.
Leading global economics such as UK has passed the regulation called “The Control of Dogs Order 1992 which make it mandatory for dogs to have tags having the name and address of the owner written on them. This has given a boost to the demand for tags.
Another contributing factor is a disturbing rise in dog exploitation rate, among all animal who is being abused dogs consist of 65%. This has increased threat among the dog’s owners accounting them to spend on dog accessories for their protection. The growing relationship between pet owner and pet will increase purchasing power as the pet humanization trend continues to expand.
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COVID-19 impact on Custom Dog Tag Market?
COVID-19 has harmed the industry, creating havoc and resulting in a downward market curve. The pandemic has hampered supply and demand, increase financial losses for production facilities.
The tight market growth is the result of numerous government regulations on product and service trade, which has resulted in lower customer demand. The administration has adopted preventative steps at various levels to prevent the virus from spreading further, one of which is regulating sales activities in severely affected areas. As a result, goods are accumulating in one location.
Furthermore, the recent increase in the number of cases has resulted in a significant shift in the industry, resulting in the suspension of international flights and the imposition of quarantine. As a result, future revenue will be abysmal.
Despite a drop in demand during the lockdown due to the economic crisis, the market is expected to recover once the COVID 19 pandemic is over.
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Global Outlook of Custom Dog Tag Market
Prominent regions included in the Custom Dog Tag Market report are North America, Latin America, Europe, East Asia, South Asia and the Middle East and Africa. North America has the largest share of the market during the assessment period, and it is expected to grow.
According to APPA, North America has U.S $ 95.7 Bn spending on pet industries among which dogs holds the major chunk. Accounting for the largest population of the dog in North America one-third get lost in their lifetime causing an upsurge in the North America dog tag market.
Succeeding North America is Europe and East Asia, because of the high adoption rate. South Asia is expected to follow North America and expand at a breakneck pace in the coming quarters. Because of the large number of dogs and increased disposable income, India is likely to dominate the area.
Latin America, the Middle East, and Africa, on the other hand, have a small market and are maturing at a modest pace. The government's reduced expenditure on the establishment of standards, especially in these two regions, has lowered demand.
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U.S and Germany Dog Tag Market Trend
According to the new law in Germany known as Hundeverordnung or Dogs Act passed in Germany which has made it compulsory to take the dog out for a walk twice a day the sales for the dog tag has increased drastically. Dog owners desire to spend money on their pets to make them more appealing has increased the number of manufacturers in these countries.
Because of their strong economies, these countries are early adopters of emerging market trends, making them product employers.
Who are the key manufacturers of Dog Tag Market?
The key market players for dog tag market are
- Ball Chain Mfg. Co. Inc.
- Asny Craft Factory
- Accubeam Laser Marking
- Longbehn & Co. Inc.
- BB Tees Inc.
- Higgins Corporation
The dog tag market is highly fragmented having a large number of market players resulting in huge competition. To achieve a larger share of the market, players are following both organic and inorganic growth strategies.
Major market players also use acquisition, merger, partnership, and alliance with regional players to expand their geographical boundaries. Brand launch and introduction of new products are primarily used to shape the overall business structure during the assessment process.
Custom Dog Tag Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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- Stainless Steel
- Traditional Metal Tags
- Unique Dog Tag
- Dog Collar Nameplate
- Sport Themed Tags
By Sales Channel
- Specialized stores
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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