Analysis of Dog Bed Covers Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dog bed covers are used to protect the beds from paws and excreta of dogs. Moreover, they come with anti-microbial element to preserve dog’s health and their owners. Furthermore, they have become an integral part in developed economies with stringent animal and pet laws.
Over the past half-decade, dog bed protector market has expanded at a nominal rate owing to the extensive rise in spending on pet care. Pet shopping has captured a significant share in the consumer basket owing to the rising concerns about bed fillers spoilage over short-run. Therefore, consumers in developed economies are investing in long-run investment over pet.
In FY2020, COVID has squeezed the investment of consumer in inessential products and surged the savings share which has reduced the demand for the pet care products cascading the effect to the dog bed cover sales.
Unquestionably, dog bed protector demand observed a nominal growth over the past half-decade owing to the rise in demand from the developed economies. Per-capita spending of developed economies on pet care products has risen by 1.2 folds over the same period. This is anticipated to pave way for demand growth of the product.
Analyzing the sales of the product across the regions, from 2016-2018 consumers across the globe have been observing a smooth rise in disposable income leading to rising expenditure on pet care products.
On-the other end of the coin, stringent pet care policies in the United States and Europe has increased the pet care expense in these regions leading to the boost in demand for bed covers for dogs.
COVID-19 has turned the supply chain across the globe upside down and created a vicious spending cycle effecting the overall economic structure across the regions. In the perspective of the dog bed protecting covers, market has taken a U-turn owing to consumer reaching out to official online stores and E-Commerce stores but on the other hand it is anticipated to affect the retail stores revenue over short-term.
Online sales channel in Q3 andQ4 of FY2020 has captured three-fourths of the demand volume and is anticipated to gain double digit BPS over 2020-2022.
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United States holds prominent share for dog bed covers sales not only in North America but across the globe. Historically, United States has observed a nominal growth in demand for the product.
COVID-19 and rising health care expenses has shrunk demand for the inessential products in the country. On the other hand, higher income class group are investing more on pet protection leading to the additional expense on pets and thus bolstering the demand for the bed cover for dogs.
Canada also on the other hand, also has strong dog bed protecting covers sales portfolio with key players providing the product in the Canadian as well as US markets. These players are anticipated to hold strong long-run supply chain in the North America region.
In Q2 and Q3 of FY2020, EU has been harshly impacted by the COVID-19 crisis, which has led to a shrink in economic activities. However, as is the case in US and Canada, per capita spending for pet care in EU endures to strengthen demand for dog bed cover.
Despite decline in demand owing COVID-19 in FY2020, reopening of the markets in end of Q3 and Q4 has provided a nominal boost to the consumer confidence providing an impetus to the product sales.
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Some of the leading providers of dog bed covers include
Many leading providers of the bed covers for dog have strong product portfolio and comprehensive analysis over consumer economics. Most of the manufacturers are positioned in North America and Europe owing to the lucrative market in the region. Slow growth is anticipated to observed over long-run forecast period in South Asia & Oceania and Middle East & Africa.
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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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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