Pet Travel Accessories Market to Reach $12.2 Billion, Globally, by 2031 at 5.8{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} CAGR: Allied Market Research
The increased travel by global consumers to various tourist destinations, and the growing desire to travel with pets, have created a demand for pet travel accessories. Pet travel accessories make the voyage more comfortable for both the pet and the owner. Furthermore, pet humanization and the growth of e-commerce are both on the rise, creating an opportunity for the pet travel accessories industry to expand.
PORTLAND, Ore., Feb. 2, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Pet Travel Accessories Market by Product Type (Pet car seat, Pet Travel Leash and Harness, Pet Carrier Backpack, Others), by Application (Dogs, Cats, Others), by Distribution Channel (Supermarkets/hypermarkets, Specialty Pet Stores, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global pet travel accessories industry generated $7.0 billion in 2021 and is anticipated to generate $12.2 billion by 2031, witnessing a CAGR of 5.8{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} from 2022 to 2031.
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Prime determinants of growth
Pet safety is one of the most important aspects that a pet owner must regulate to keep their pet safe & healthy. The government of developed nations passes many laws for the safety of the pets, such as The Prevention of Cruelty to Animals (POCTA) Act, and pet owners must follow it. The laws include cruelty prevention toward pet animals, a focus on pet safety, and no discrimination among pets. Pet care product companies have come up with many safety products for pets, including pet car seats, pet harnesses, pet leashes, and others which are made with good quality material and are long-lasting. As a result, an increase in public knowledge of pet safety rules increases the pet travel accessories market demand, particularly in developed nations of Europe and North America.
Covid-19 Scenario
- The effect of COVID-19 led to a partial or complete shutdown of production facilities that do not come under essential goods owing to prolonged lockdowns in major countries, such as the U.S., China, Japan, India, and Germany.
- COVID-19 ramifications have impeded the expansion as the travel industry had come to a halt, which impacted the sale of pet travel products.
The pet travel leash and harness segment to maintain its leadership status throughout the forecast period
Based on product type, the pet travel leash & harness held the highest market share in 2021, accounting for near to two-thirds of the global pet travel accessories market, and is estimated to maintain its leadership status throughout the forecast period. Pet travel leash & harness are vital accessories that ensure the pet’s safety and provide support to the pet owner to control the pet in public or while traveling. However, the others segment is projected to manifest the highest CAGR of 7.5{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} from 2022 to 2031. The others segment includes pet food & water bowl, hygiene bags, and others.
The dogs segment to maintain its leadership status throughout the forecast period
Based on application, the dogs segment held the highest market share in 2021, accounting for nearly three-fifths of the global pet travel accessories market, and is estimated to maintain its leadership status throughout the forecast period. Dogs are the most popular animals that are frequently adopted as companions or pets all over the globe. Rise in pet adoption among millennials and Generation Z as well as elderly people, an increase in urbanization, a rise in the trend of nuclear households, and a spike in the dog population. However, the cats segment is projected to manifest the highest CAGR of 6.6{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} from 2022 to 2031. People are becoming aware of the health benefits of owning a pet cat, such as lowering stress & anxiety, low risk of heart disease, and low risk of allergies.
The specialty pet stores segment to maintain its lead position during the forecast period
Based on the distribution channel, the specialty store segment accounted for the largest share in 2021, contributing to more than one-third of the global pet travel accessories market, and is projected to maintain its lead position during the forecast period. The key advantage of a specialized store is that it focuses on different variants of pet travel product categories. Specialty pet stores serve as gathering places for pet enthusiasts, mainly if the store owners host special events & product demonstrations and indirectly promote the product that is introduced newly or already exists in the market. However, the e-commerce segment is expected to portray the highest CAGR of 7.2{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} from 2022 to 2031. This is due to consumers currently preferring the purchase of pet products online since it is convenient and offers a wide variety of brands that are not accessible in stores.
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North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global pet travel accessories market, and is likely to dominate the market during the forecast period. According to the American Pet Products Association (APPA) National Pet Owners Survey 2021-2022, pets are present in 70{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} of U.S. homes, or around 90.5 million households. Dogs continue to be the most popular pet in American households. According to the study 2021-2022, 69 million homes in the U.S. have dogs, while 45.3 million households have cats as pets. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.0{35112b74ca1a6bc4decb6697edde3f9edcc1b44915f2ccb9995df8df6b4364bc} from 2022 to 2031. The increase in pet ownership in countries such as Japan and Australia has supplemented industry development.
Leading Market Players: –
- Pet Gear Inc.
- 4Knines, LLC
- ARF Pets
- Central Garden & Pet Company
- Ferplast S.p.A.
- HUNTER International GmbH
- Mendota Pet
- Paws and Pals, Inc.
- Pet Magasin
- Petco Animal Supplies, Inc.
- Ancol Pet Products Limited
- Coastal Pet Products Inc.
- Radio Systems Corporation
- Pet Lovers Centre Pte Ltd
- Ruff Wear Inc.
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