According to "The Insight Partners" latest market study on “The global Pet Grooming Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Pet Type, Product Type, Distribution Channel, and Geography,” the pet grooming products market size is projected to reach US$ 28,216.11 million by 2028 from US$ 16,099.78 million in 2021; it is expected to grow at a CAGR of 8.3% from 2021 to 2028. The report highlights key factors driving the pet grooming products market growth and prominent players along with their developments in the market.
The growing pet ownership among the people and rising concerns regarding their wellbeing are some of the major factors driving the pet grooming products market growth. Furthermore, emerging economies are witnessing a surge in the middle-class population, coupled with the growth in urbanization; this has led to massive opportunities for the key market players in the pet grooming products market in developing countries.
Some of the key players operating in the global pet grooming products market include Ancol Pet Products Limited; Beaphar; Wahl Clipper; The Hartz Mountain Corporation; Johnson’s Veterinary Products Ltd.; Earthwhile Endeavors, Inc.; Coastal Pet Products, Inc.; Nexderma; Glo-Marr Pet Products; and Resco Pet Products. The major players in the pet grooming products market are focusing on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.
In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. The shutdown of manufacturing units, difficulty in the procurement of raw materials has had a negative impact on the pet grooming products market growth. However, there has been an increase in the pet adoption rate in countries such as the UK, Germany, among others during COVID-19 pandemic. The Germans are increasingly adopting dogs to counter the COVID loneliness and according to Deutsche Hundewesen (VDH) canine association, there has been a 20% increase in dog adoption during 2020. Along with this, according to the COVID-19 Pet survey from Pet Food Manufacturers’ Association in the UK, there has been a staggering rise in pet acquisition in the country. Thus, an increase in the rate of pet adoption during the COVID-19 pandemic is having a positive impact on the pet grooming market growth.
E-commerce platforms are offering an increasingly fine customer experience and are providing the consumers with convenience and comfort, wide availability of pet grooming products along with related product information, and comparisons of pricing of different pet grooming products. The ease in accessibility and options to choose from a wider assortment on e-commerce platforms such as Chewy.com, Amazon, and Petedge.com is driving the online demand for pet grooming products.
There has been an increase in the rate of pet ownership across the world which has led to increased demand for pet grooming products. Regions such as North America, and Europe, are witnessing an increase in the number of pet adoptions which has projected these regions to be a favorable market for pet grooming products. Factors such as life stage (single vs. couples), size of household, and the income of the consumers may contribute to the increased prevalence of pet ownership amongst the population. According to the American Pet Product Association (APPA) National Pet Owners Survey, 70% of the US households own a pet, which equates to 90.5 million homes.