The pet care industry has experienced significant growth in recent years, driven by increasing pet ownership and humanization of pets. According to Research Nester, the global pet care market size was valued at USD 260.53 billion in 2024 and is projected to reach USD 598 billion by 2037, registering a CAGR of 6.6% during the forecast period[1].
In terms of market segments, pet food dominates the market share, accounting for over 47% by 2037, driven by the demand for nutritious and tasty food for daily feed[1]. The dog segment is projected to dominate the revenue share, accounting for over 52% by 2037, due to the comfort and protection provided by dogs[1].
The North American market holds the largest pet care market share, driven by the growing number of pet owners and increasing awareness about good veterinary health in the region[3]. According to the American Pet Products Association, approximately 44% of U.S. households own dogs, while 37% own cats[3].
Recent market movements include the acquisition of Armitage Pet Care Ltd. by Spectrum Brands Holdings, Inc. in 2020, expanding the company's customer base, capabilities, and reach[2]. Additionally, companies such as Wahl Animal have introduced new premium dog grooming accessories, catering to the growing demand for pet care products[2].
Emerging competitors in the market include companies offering technologically-enabled animal care products, such as location tracker devices and smart laser cat toys[4]. The shift towards dietary supplements is also expected to drive the adoption of these products[4].
In terms of regulatory changes, there is a growing demand for natural pet food across the U.S., owing to obesity risks in pets[3]. However, the higher cost of high-quality pet care products is expected to limit their demand among the lower-income population[4].
Supply chain developments include the growing demand for premium quality pet food, driving the market growth in regions such as Canada[1]. According to a recent report, the pet population in Canada was 27.9 million in 2020, with Canadians spending nearly USD 2 billion on premium quality dry dog food and around USD 841 million on dry cat food[1].
In comparison to previous reporting, the market size has increased significantly, with the global pet care market size valued at USD 150.67 billion in 2021 and projected to reach USD 427.75 billion by 2032[2][4]. The market is expected to continue growing, driven by increasing pet ownership and humanization of pets.
Overall, the pet care industry is experiencing significant growth, driven by increasing pet ownership and humanization of pets. Companies are responding to current challenges by introducing new products and expanding their customer base. However, regulatory changes and supply chain developments are expected to impact the market growth in the coming years.
This content was created in partnership and with the help of Artificial Intelligence AI
