Pet Travel Bags Market
Pet Travel Bags Market Share Analysis, By Bag Type (Handbag-styled, Canvas carriers, Luxurious carriers), By Material Type (Polyester, Nylon, Leather), By Travel Mode (Flights, Cars), By Pet Weight (8 - 14 lbs, 15 - 25 lbs, 26 - 40 lbs), By Sales Channel, By Region - Global Insights 2021-2031
Pet Travel Bags Market Forecast and CAGR
According to the recent market study conducted by Fact.MR, the pet travel bags market is expected to rise gradually between 2021 and 2031. In the immediate term, demand for these bags will recover significantly, with a positive long-term growth prognosis.
Growing pet adoption and flourishing pet humanization have been identified as important driving causes for increased demand for pet travel bags around the world. This business is growing at a steady rate and is constantly driven by increased pet culture around the world. Thereby, it is predicted to surpass its current valuation growing at a CAGR of over 5.6% during 2021-31.
What is Driving Demand for Pet Travel Bags?
With the increased spending power of pet lovers around the world, there has been a rapid surge in demand for pet travel bags in recent years. Increased demand from pet owners is well recognized by current key players, who are continually expanding the worldwide business potential with an innovative collection of pet travel bags.
With the intervention of consumer sentiments and the growing pet humanization culture, the global pet travel bags industry is witnessing an increase in demand, while concurrently harnessing the combined potential of personalized custom-based pet travel bags throughout the world.
Gradually expanding technology advancement and increased capital investment in R&D by key companies have created colossal chances for pet lovers to personalize travel bags, resulting in increased creativity. These smart, decorative, waterproof, and other noteworthy additions in existing bags are continually unfolding innovation edge and are poised to accelerate the global potential as a result of widening application offerings.
Covid-19 Impact on Global Pet Travel Bags Market
Covid-19 has had a significant impact on the world economy, notably in the business of pet travel bags. The pandemic has disrupted the supply chain and thrown the system into disarray. Due to a high infection rate that could cause health issues among the geographically dispersed client base, Covid-19 has instituted a statewide shutdown.
Commercial and manufacturing industries were muted across the globe, resulting in a considerable drop in annual revenue. This has had a noticeable impact on the pet travel bag companies, as well as a negative impact on overall business growth.
People were forced to stay at home during Covid-19 due to tight lockdown and social-distancing measures imposed by the governments of several regions. As a result of this, the global demand for pet travel bags had shrunk. This supply chain gap also had an impact on the revenue statistics of well-known global manufacturers.
However, the established supply chain and distribution presence of online e-commerce companies and third-party retailers had offset this disruption and caused an escalation in overall sales of these travel bags.
North America Pet Travel Bags Market Geographical Outlook
North America is house to one of the largest pet populations around the world. Specifically, the US has a dog and cat population of over 100 million as of 2020. These pet owners have been spending on procuring multiple pet travel accessories such as travel bags being used by consumers who tend to travel often with their pets.
Additionally, there are various guidelines mandated by airlines for carrying pets in travel bags on planes. This has made consumers purchase travel bags for carrying their pets safe and sound during their travel. Moreover, with the amplification of pet culture and greater spending power of pet owners, the global market is undergoing a dramatic boom. People all over the world are leaning toward pet adoption and investing in pet travel bags which showcases significant consumption potential.
With rising consumer demands, prominent players in the industry are continually developing superior travel bags for pets that are designed with the client's needs in mind. North America is likely to account for a sizable portion of the global pet travel bag market, because of its high disposable income and growing pet humanization culture, with the United States being seen as the most promising country in the North American region. In addition, important players are always improving their product offerings for maintaining their business resonance.
Moreover, millennials and pet enthusiasts have backed dog adoption in the United States in the past, and the predicted period shows a similar increasing tendency. This has also offered a level playing field for newcomers who wish to enter the industry.
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Who are the Key Manufacturers of Pet Travel Bags Market?
Some of the leading manufacturers of the pet travel bag market are
- Sleepypod Air
- Mobile Dog Gear
- Quanzhou Dowsen Bags Co. Ltd.
- WDF sports
- Xiamen ShengXin Textile Co.Ltd
These prominent pet travel bag manufacturers are exploiting the considerable incremental potential and, as a result, the global pet travel bag industry is flourishing. Some of the prominent approaches taken by key companies to maintain the potential share globally include combining growth strategies and building a competitive environment to cast an R&D edge in the market.
Pet travel bags 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
An Adaptive Approach to Modern-day Research Needs
By Bag Type
- Canvas carriers
- Luxurious carriers
- Backpack Style
- Wearable Carriers
By Material Type
- Faux lambskin
By Travel Mode
By Pet Weight
- 8 - 14 lbs.
- 15 - 25 lbs.
- 26 - 40 lbs.
- 41 - 64 lbs.
- >64 lbs.
By Sales Channel
- Super and Hyper Markets
- Convenience Store
- Direct Sales
- Third Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
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.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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