Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 30.11 Billion |
| USD 46.56 Billion | |
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Global Digital Pet Care Products and Services Market, By Digital Pet Products (Virtual Fencing, Smart Feeding and Watering, Smart Litter Boxes, Smart Toys, Multi-Product Pet-Centric Smart Product Marketers, Wagz, Petkit, Ikuddle, Digital Supplies for Other Pets), Animal (Dogs, Cats, Birds, Fishes, Horses), Type (Pet Food, Pet Care Products, Services), Source (Animal-Based, Plant-Based, Synthetic) – Industry Trends and Forecast to 2030.
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Digital Pet Care Products and Services Market Analysis and Size
According to the American Pet Products Association's National Pet Owner Survey, the U.S. spent USD 69.5 billion on the pet industry in 2017, with that figure expected to rise to USD 103.6 billion by the end of 2020. This consistent increase in pet product spending in the United States reflects a growing trend among pet owners to spend more money to provide the best experiences for their companion animals.
Data Bridge Market Research analyses that the digital pet care products and services market, which is USD 30.11 billion in 2022, is expected to reach USD 46.56 billion by 2030, at a CAGR of 5.6% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Digital Pet Products (Virtual Fencing, Smart Feeding and Watering, Smart Litter Boxes, Smart Toys, Multi-Product Pet-Centric Smart Product Marketers, Wagz, Petkit, Ikuddle, Digital Supplies for Other Pets), Animal (Dogs, Cats, Birds, Fishes, Horses), Type (Pet Food, Pet Care Products, Services), Source (Animal-Based, Plant-Based, Synthetic)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Petplan Ltd. (U.K.), Hartville Group, Inc. (U.S.), Petfirst Healthcare LLC (U.S.), Anicom Holdings Inc. (Japan), RSA (U.K.), Direct Line (U.K.), Nationwide Building Society (U.S.), Trupanion (U.S.), Pethealth Inc. (U.S.), Petplan Ltd. (U.K.), Hartville Group, Inc. (U.S.), Petfirst Healthcare LLC (U.S.), BabelBark (U.S.), Banfield Pet Hospital (U.S.), Chewy, Inc (U.S.), Costco Wholesale Corporation (U.S.), Hill's Pet Nutrition, Inc. (U.S.)
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Market Opportunities
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Market Definition
Pet food and pet health care are the two most important aspects of pet care. Pet owners are increasingly providing high-quality food and innovative grooming products for their pets. As a result of constantly changing digitalization, the market for digital pet care products and services is expanding significantly. People are becoming more interested in pet care products as they learn more about animal welfare and well-being. Food, cleanliness, toys, and other items for animal care are divided into several categories.
Drivers
Rapid urbanization is one of the major factors driving market growth. Pet ownership and care has become a very modern phenomenon in India. Changing lifestyles, modernization, and rising consumer affluence are driving market expansion across the country. As a result, growing concerns about pet nutrition and health are propelling pet care products and services sales. Furthermore, government programmes promoting pet adoption are increasing adoption rates, increasing demand for digital pet care products and services.
This increased demand for pet services and products, resulting in significant growth in the digital pet care products and services market. According to the American Pet Products Association's National Pet Owner Survey, total pet industry expenditures in the United States totalled USD 69.5 billion in 2017, and are expected to increase to USD 103.6 billion by the end of 2020. This steady increase in pet product spending in the United States reflects a growing spending culture among pet owners to provide the best experiences for their companion animals.
Opportunities
The digital pet care products and services market is expected to grow due to the growing desire for a constant companion and their proven benefits in lowering stress levels. As a result, demand for cat food, grooming, and healthcare products has increased, increasing segment share. Furthermore, the growing number of cat care brands on the market, combined with the growing number of cat owners willing to spend large sums on these products, will boost market statistics.
Restraints/Challenges
The lack of uniform regulations impeding international trade, price sensitivity and scarcity of ingredients are the main factors limiting market growth. Furthermore, the rise in the threat of counterfeit goods will present new challenges to the development of the digital pet care products and services market during the forecast period.
This digital pet care products and services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital pet care products and services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
The COVID-19 pandemic positively impacted the market because it increased the demand for veterinary services by dramatically increasing pet adoption rates and statistics. The COVID-19 epidemic posed a number of challenges for the pet care industry, including animal health firms, veterinary clinics, veterinarians, and pet owners. Several government and municipal regulatory organizations imposed strict lockdowns and restricted the movement of people and goods due to an increase in the number of COVID-19 incidents around the world.
Recent Developments
The digital pet care products and services market is segmented on the basis of products, type, animal, source. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Products
Animal
Type
Source
The digital pet care products and services market is analyzed and market size insights and trends are provided by country, product, type, animal, source as referenced above.
The countries covered in the digital pet care products and services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the digital pet care products and services market because of rising adoption of high-tech collars that help keep track of a pet's heart rate and rising expenditure on pet care products in this region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of increased mobile adaptivity, tech-savvy owners, and a strong preference for online shopping in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The digital pet care products and services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital pet care products and services market.
Some of the major players operating in the digital pet care products and services market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.