Pet Stairs Market Forecast and CAGR
According to a recent research study by Fact.MR, pet stairs market is anticipated to witness significant growth during 2021-2031. Demand will observe a steady boost in the medium run forecast, with optimistic outlook over the long run. Growing demand from developed countries in the west is set to provide impetus owing to the trend among millennials to adopt pets. It is anticipated that the market is set to grow at a CAGR of 5.5% over the assessment period.
What is Driving Demand for Pet Stairs?
Increasing demand from pet owners to provide ease for pets to climb on to beds and other platforms continues to drive the demand for pet stairs. Enthusiastic dog owners continue to be a booming opportunity for the product manufacturers.
Sales are set to witness recurring peaks and troughs, which remained a long-standing challenge for key actors. The undulation in sales is observed owing to the moderate spending on pet accessories and other auxiliary staff. This undulation restrains the key actors from expanding and are often caught off-guard concerning capacity utilization.
In compliance with the conventional use for pets, the implementation of pet stairs is gaining traction in interior décor and design sector. Pet stairs are widely adopted in interior designing of homes and corporate offices where the use of miniaturized staircases as flower pot stands and others is being increasingly attracting attention owing to their compact design and flimsy property.
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Inclination of People Towards Adoption of Pets to Supplement the Sales
COVID-19 made every individual stay back at home which gave rise to an increase in pet adoption for PAS time. This showed huge growth in demand for pet stairs post the COVID-19 but showcased a notable drop during the pandemic. This decline resulted in imposing a ripple impact on all the pet accessories and auxiliary stuff and stairs are no exception as the manufacturing plants were shut down.
As the lockdown and shelter-at-home guidelines have restricted the sales of pet stairs, DIY and self-design & fabrication has gained traction and projected curb for demand and purchase. Sales are likely to be back on track over the course of the assessment period.
The US and Canada Pet Stairs Market Outlook
At the global level, the US is one of the largest markets for pet stairs. The US is anticipated to tramp on the boom and bust pattern during the assessment period 2021-2031. Sales are likely to remain dampened in the next couple of years, as the economic crisis is still on its way to make recovery.
Demand in the US and Canada will be pushed ahead by enthusiastic pet owners. Being a consumer-based product, sales of the product is completely dependent on pet owners. The demand is also gaining traction in interior design and décor. The sluggishness in the demand will be compensated by demand from interior design and décor owing to the increasing spending on construction and infrastructure.
Canada market is also impacted by the inclination of public towards the adoption of pets. The national demand for pet stairs as a pet auxiliary stuff and as décor is set to bolster the growth at both regional and global level. The momentum provided is set to hold the ground, which will impart the thrust over the period of 2021-2031.
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Europe Demand Outlook for Pet Stairs
Most of the countries in the EU have been significantly affected by COVID-19, which has led to a decline in revenue-generating pursuits. However, like North America, EU countries have a high inclination towards pet adoption.
Regardless of COVID-19 challenges, most of the EU countries have maintained a sturdy pet adoption and auxiliary devices expenditure in 2020. As per the release by EPO (European Pet Organization), the industries supplying animals feeds, equipment and other goods to look after them are valued over several 10’s of billion US$ annually which remained to be nearly the same over the whole period of 2020. With nearly 140 million cats and dogs in the EU, the market for pet stairs is anticipated to grow substantially.
For actors present in the supply chain of the market, the demand for pet stairs as a pet auxiliary expenditure can be passed through the undulation by concentrating on product offerings as interior décor. However, focusing back on conventional use will remain as a potential factor for constant demand in long run.
Who are the Key Actors Present in Pet Stairs Market?
Some of the key actors include
- Dallas Manufacturing Company
- IRIS USA
- Majestic Pet
- Pet Gear Inc.
- Vistamation, Inc.
- Creative Composites Group
- Foam N' More, Inc. PEP
- A Ryan Herco Flow Solutions Company
- New England Plastics Corp.
- Quaker Plastics
- NANJING SONNY IMP. & EXP. CO., LTD.
- Dongguan Yongqi Electric Heat Products Co. Ltd.
- Ningbo Zero Point Co., Ltd.
Most of the key manufacturers have maintained exclusive relations and contracts with highly potential suppliers and other actors present in the supply chain. There exists a mix of organic and inorganic approach being adopted by key actors in the market to possess a competitive advantage over the others and to have wider customer engagement.
An Adaptive Approach to Modern-day Research Needs
Pet Stairs 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
By Built Material
By Structure Type
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Oceania
- New Zealand
- Rest of South Asia & Oceania
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and 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 an 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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