Wireless Pet Fence Market Forecast & CAGR
A wireless fence is a type of pet containment device that keeps your pet within a set perimeter of your yard. One of the reasons, many pet owners prefer wireless fencing over traditional physical fences is that it provides additional security benefits to the pet owners.
According to a report published by Fact.MR, the wireless pet fence sales is expected to be driven by the rapid adoption rate of pets. This trend is especially seen in developed economies present in North America and Europe and is anticipated to remain consistent throughout the forecast period.
How Has Covid-19 Impacted the Wireless Pet Fence Market?
The new coronavirus outbreak has slowed profitability development. Growth was badly influenced in few retail sectors. As a result, many market players in the animal welfare sector overall have made efforts to consolidate cash reserves to handle volatile variations in demand for pet products.
The shop closures have harmed the pet industry, as per the survey conducted by American Pet Products Associations. In addition to supply, the dramatic shift in the behaviour of consumers purchasing discretionary goods to essential products affected the market for pet toys in the context of the pandemic outbreak.
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What is the Driving Demand for Wireless Pet Fence Market?
A wireless fence for pets offers certain benefits over conventional fences. They are a safer alternative to conventional physical fences or outdoor dog kennels since dogs cannot dig under or tear through them. Further, a wireless fence helps you to keep your beautiful landscape without having to worry about a physical fence or an outdoor dog kennel blocking your view.
Additionally, wireless or in-ground fencing is more cost-effective than physical yard fences, which can cost thousands of dollars to install. Owing to the aforementioned advantages, residents are preferring wireless fences for their pets. This is anticipated to remain consistent throughout the forecast period and result in improved sales figures for the manufacturers.
Besides, pet owners consider their animals to be members of their family, and they are continually investing in their health, fitness, and well-being. This has resulted in widespread adoption of online and digitally linked ingenious products for ensuring the health and well-being of pets, propelling the demand forward.
Moreover, increased disposable income has encouraged pet owners to spend more on high-quality accessories like smart collars with built-in GPS, and wireless fences. This allows them to monitor their pet’s location and keep them under observation, adding an extra layer of safety.
Owing to the above-mentioned factors, the wireless pet fence market is experiencing moderate demand from the residents and is supposed to remain steady during the forecast period.
Statistics Related to us Pet Industry Expenditure Supporting Demand
People spend nearly $103 billion on their pets, according to the APPA in the US. According to 2020 pet adoption figures, people would have spent:
- Around $42 billion has been spent on food
- About $22.1 billion was spent on animal supplies and OTC Medicines
- Veterinary treatment and products amounted to around $31.4 billion
- Finally, over $8.1 billion had been spent on “other” costs including grooming, clothing and other accessories including pet fence.
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US and Canada Wireless Pet Fence Comparative Demand Outlook
The United States is one of the world's most important markets for pet fence. This is because, as of the 2019-2020 fiscal year, over 107.7 million households in the country own at least a dog, cat or horse. Due to the high purchasing potential of the U.S. and Canadian populations, North America is projected to hold the largest market share in the wireless fence market for pets.
According to a survey conducted by the American Pet Products Association, nearly 85 million households in the United States own pets, with animal ownership increasing from 56 per cent to 68 per cent in the last 30 years. Furthermore, the growing trend of purchasing newer and improved wireless pet fence is projected to boost the region's market growth.
Now, according to a survey conducted by the Canadian Animal Health Institute (CAHI) in 2020, Canada has about 7.7 million dogs and about 8.1 million cats. According to CAHI, more than 58 per cent of Canadian households own a dog or a cat. This is however comparatively lower as compared to the US, thereby accounting for a much lesser market share.
Europe Demand Outlook for Wireless Pet Fence
According to the FEDIAF (European Pet Food Industry), approximately 38% of the total households in Europe own a pet animal. And among these around 49% of the households either own a dog or a cat.
Because of the large pet populations in countries like the United Kingdom, the Netherlands, and Germany, Europe is projected to have a significant share of the global demand. For instance, UK had around 9 Million dogs as of 2019. These pet owners are starting to prefer the latest wireless fences for monitoring their pets.
This is going to trickle down to the pet fence demand from these countries and is poised to keep the market growth consistent throughout the forecast period.
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Who are the key Manufacturers and Suppliers of Wireless Pet Fence?
The market is moderately consolidated in nature. Some of the vital players in the market are
- Radio System Corporation
- Pet Safe
- Canine Company
- Pet Stop
- Premier pet
- High Tech Pet
- Free Spirit
The pet fence market is considered to be highly competitive. Enhanced market reach is one of the main tactics being adopted to achieve a sales edge over other competitors. The greater the consumer reach, the higher the growth in revenue and this has remained the commercial voice for a multitude of players in the market.
Wireless Pet Fence 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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By Pet type
- Personal Pet
- Pet Care Center
By Sales Channel
- Pet Specialty Centers
- Supermarkets & Hypermarket
- Retailers & Wholesalers
- Other Distribution channels
- Direct Sales
- 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
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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