Product ID: SQMIG30C2118
Report ID:
SQMIG30C2118 |
Region:
Global |
Published Date: April, 2024
Pages:
260
|
Tables:
89 |
Figures:
76
In 2021, North America is expected to have the biggest share of the pet care market. Among the region, the US pet care market is projected to hold significant share. One of the key factors in the region's supremacy is the high rate of pet adoption in American households. A poll by the American Pet Products Association (APPA) found that around 85 million American families, or 67% of all households in the country, have pets. The adoption of pet humanization and the favorable public perception of it in North America are fostering market expansion for wholesome pet food products. Further, according to data from the Government of Canada's Statistical Department, Canadian household expenditure on pet insurance, veterinarian, and other associated services reached USD 2,720 million in 2019, up from USD 2,550 million in 2018. Furthermore, the region's significant pet owners' need for premium quality products for their pets’ results in higher income creation from such products. In addition, the trend of treating pets as individuals is driving high spending on safe and sustainable pet food in Europe.
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REQUEST FREE CUSTOMIZATIONGlobal Pet Care Market size was valued at USD 222.93 billion in 2019 and is poised to grow from USD 235.41 billion in 2023 to USD 384.42 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
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Product ID: SQMIG30C2118