Pet Care

The global pet care industry continues to a pose a favorable growth on account of rising demand for premium cat and dog food. Asia Pacific and Latin American countries are spearheading the market growth of pet care. Transition in the lifestyle of the consumers, coupled with greater focus on natural ingredients is greatly fuelling the demand for pet care products at the global level. Further, Rapid growth of the e-commerce industry has changed the purchasing pattern of consumers with regards to pet care products. Wide array of products, coupled with varied pricing options, user reviews are some of the factors that the consumers look forward to while purchasing products.

Health has become a trend among the consumers in the field of weight management and all over wellbeing. This factor is greatly influencing the demand for pet care products. According to Insights and Reports, pet expenditure in the U.S. amounted to more than US$ 70 billion in 2018, with pet food accounting for the major market share followed by OTC medicines, veterinary care and live animal purchases among others. According to American Society for the Prevention of Cruelty to Animals (ASPCA), U.S. witnesses more than 3 million adoption of shelter animals every year, with the ratio being more or less equal between dogs and cats. In 2016, more than 75 million dogs and more than 88 million cats were owned in the U.S. Further, more than 50% of the household in the U.S. own a dog and approximately 30% of the households in the county own a cat. High adoption rate of pets in the country has resulted in significant demand for pet care products in the country.

India is projected to be the fastest growing market for pet care on account of rising ownership of dogs in the country. High purchasing power of consumers has led to an increased adoption pets in the country, which in turn has led to the growth of the pet care industry in the country. International players hold a significant position in the market and consumers prefer international brands over local brands.

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