The global “pet utility products market” is set to gain traction from the rising ownership of pets and growing concerns about their health. The American Pet Products Association (APPA) conducted a 2019-2020 National Pet Owners Survey. As per the survey, approximately 67% of families in the U.S. own a pet. The survey was first conducted in 1988, and during that very year, the rate was 56%. It proves that more and more households are focusing on owing pets and investing huge sums on their care as it is considered to be a mark of sensitivity and social status in today’s world. Besides, the products for pets are nowadays very easily available and are pocket-friendly. This factor would affect the market positively in the coming years.
Highlights of the Pet Utility Products Market Report Include:
- Microscopic study of the various factors driving and restraining the market
- Careful classification and research of the market segments
- Accurate computation of market figures
- Comprehensive analysis of the regional dynamics and competitive landscape
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Key Players Operating in The Pet Utility Products Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- NITE IZE
- IRIS USA
- Outward Hound
- Costal Pet Products Inc.
- Innovation Pet
- Cycle Dog
- Petco Animal Supplies Inc.
- Hyper-Pet LLC
- PT Labs, LLC
- K & H PET PRODUCTS
- ThinkRace Technology
- Bed Bath & Beyond Inc.
- Honest Pet Products LLC
- PET PARENT
- Simply Fido
- MidWest Homes for Pets
- Other key market players
The report focuses on global major leading industry players of market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. This report focuses on Pet Utility Products Market Trend, volume and value at global level, regional level and company level. From a global perspective, this report represents overall Pet Utility Products Market Size by analysing historical data and future prospect.
With tables and figures helping analyse worldwide Pet Utility Products Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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North America to Dominate Backed by Increasing Expenditure on Pets
Geographically, the market is segregated into Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America. Out of these, North America is expected to lead in terms of pet utility products market revenue during the forecast period. This growth is attributable to the rising expenditure on pets, as well as their products. As per the APPA, in the U.S., from 2017 to 2018, around 393 million pets were owned by families. It would drive the growth of the market in this region. Europe, on the other hand, is set to grow significantly stoked by increasing concerns regarding pet healthcare. The Middle East and Africa, Latin America, and Asia Pacific would exhibit steady growth backed by rising awareness programs about animal health, upgradation of health reforms, and enhanced distribution channels in these regions.
Key Players Focus on Launching Unique Products to Gain Competitive Edge
The market consists of numerous big, small, and medium enterprises. They are mainly focusing on investing huge sums in the research and development activities to launch state-of-the-art products and bag the maximum pet utility products market share in the forthcoming years. Below are a few of the key industry developments:
February 2020: Ruffwear, a renowned manufacturer of performance dog gear, unveiled its latest Spring 2020 collection. The product line consists of collars and reflective lashes in new hues and newly redesigned Front Range™ Collection. Apart from that, the entire product range equips canines of all sizes.
May 2019: Fi, a provider of technology for dogs based in New York, announced that its total funding raised to date is USD 10 million. It experienced a Series A capital raise of USD 7 million led by RRE Ventures, venture capital firm and other prominent investors. The company was started to create the best-looking collars for dogs that would be capable of accurately tracking them for weeks.
Objective of Studies:
- To provide strategic profiling of key players in the market, comprehensively analysing their core competencies, and drawing a competitive landscape for the market.
- To provide insights about factors affecting the market growth. To analyse the Pet Utility Products Market based on various factors- price analysis, supply chain analysis, porter five force analysis etc.
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Pet Utility Products Market.
- To provide country level analysis of the market with respect to the current Pet Utility Products Market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
- To track and analyse competitive developments such as joint ventures, strategic alliances, new product developments, and research and developments in the global Pet Utility Products Market.
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Pet Utility Products Market Segmentation:
By Product Type
- Pet Collars
- Feeding Accessories
By Animal Type
By Distribution Channel
- Veterinary Hospital & Clinics
- Pet Shops
- Online Stores
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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This Report Answers the Following Questions:
- What are the Pet Utility Products Market trends and growth drivers?
- How many segments does the market contain?
- What are the opportunities and challenges that the market may face?
- How are the key players keeping up with the changing consumer behavior?
- What are the latest industry developments?
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