Pet Accessories Market Report

Global Pet Accessories Market:

The global pet accessories market size reached US$ 29.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 48.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032. The increasing pet ownership across the globe, rapid technological advancements in pet care products, heightened awareness about pet health and wellness, the expansion of online retail platforms, and the rising disposable incomes among consumers, are some of the major factors driving the market growth.

Pet Accessories Market Analysis:

• Major Market Drivers: The rising trend of treating pets as a family member, growing advancement in pet care technology, heightened awareness about pet health and wellness, and the expansion of the e-commerce sector are some of the key factors propelling the market growth. Moreover, increasing consumer disposable income levels in many regions have enabled pet owners to spend more on their pets, including purchasing premium and luxury accessories. This trend is particularly evident in developed economies where pet ownership is widespread, further propelling the pet accessories market demand.
• Key Market Trends: The growing humanization of pets, emerging focus on pet health and wellness, ongoing technology integration, and numerous eco-friendly concerns are some of the key trends stimulating the market growth. In addition, social media platforms have played a significant role in driving trends in the pet accessories market. Influencers and celebrities often showcase their pets with stylish accessories, leading to increased demand for similar products among their followers.
• Geographical Landscape: According to the report, North America leads the market owing to high pet ownership and expenditure on pet care. The market has been experiencing steady growth in recent years, fueled by trends such as pet humanization and the growing focus on pet health and wellness. The increasing number of pet specialty stores, online retailers, and veterinary clinics are also proliferating the market growth in North America.
• Competitive Landscape: Some of the leading pet accessories market companies are Ancol Pet Products Limited, Bed Bath & Beyond Inc., Blueberry Pet, Cycle Dog LLC, Designer Pet Products, Ferplast S.p.A., Honest Pet Products, Inter IKEA Systems B.V., Muttluks Inc., Platinum Pets LLC, Radio Systems Corporation, Rolf C. Hagen Inc., Rosewood Pet Products Ltd., Simply Fido LLC, and The Hartz Mountain Corporation (Unicharm Corporation), among many others.
• Challenges and Opportunities: The rising competition, price sensitivity, changing consumer preferences, and regulatory compliance are some of the factors that are restraining the market growth. However, the pet population continues to grow, driven by factors such as changing demographics, increased urbanization, and a greater emphasis on pet companionship. This presents one of the significant pet accessories market recent opportunities for companies to expand their customer base and increase sales.

Pet Accessories Market Trends:

Increasing Pet Ownership and Humanization of Pets

The number of households owning pets, including dogs, cats, birds, and small mammals, has been steadily increasing. This growth is driven by various factors, including changing lifestyles, an aging population seeking companionship, and a greater awareness of the benefits of pet ownership for mental and physical well-being. As more people welcome pets into their homes, the demand for pet accessories such as beds, toys, grooming products, and apparel increases. For instance, around 66% of the U.S. households own a pet. In 2022, Americans spent nearly US$136.8 Billion on their pets, 11% up as compared to 2021. In line with this, dogs are the most popular pet in the U.S. Nearly 65.1 million U.S. households own a dog. These factors are adding to the pet accessories market demand. In addition, pets are increasingly viewed as valued members of the family, rather than just animals. This trend, known as the humanization of pets, has led to changes in consumer behavior and preferences. For instance, 97% of people treat their pets to be part of their family. These factors are further increasing the market demand. Moreover, pet owners are willing to invest more in their pets' comfort, health, and happiness, driving demand for high-quality, aesthetically pleasing, and functional accessories. For instance, the amount spent on pets in the United States rose from US$ 90.5 Billion to US$ 136.8 Billion between 2018 and 2022, a 51.16% rise. In line with this, Americans spent around US$58.1 Billion on treats and food for their pets, US$ 31.5 Billion on supplies, live animals, and over-the-counter drugs, US$ 35.9 Billion on veterinary care, and US$ 11.4 Billion on other services (all services other than veterinary care such as boarding, grooming, pet insurance, and training) in 2022.

Rapid Advancements in Technology and Product Innovation

Technology has revolutionized the pet accessories market by introducing smart and connected devices designed to enhance the lives of pets and their owners. Examples include smart pet feeders that can dispense food on a schedule or be controlled remotely via a smartphone app, automated litter boxes that self-clean, and pet cameras that allow owners to monitor and interact with their pets while away from home. For instance, in January 2024, PETLIBRO, a smart pet supply brand based in U.S., launched the One RFID Pet Feeder. The state-of-the-art pet feeder is equipped with radio frequency identification (RFID) pet recognition technology. Before opening the food bowl lid to serve food, the One RFID Pet Feeder verifies a pet's identity using an RFID tag attached to their collar. In addition to addressing issues that are frequently encountered in multi-pet households, such as food theft, food aggression, weight control, and the requirement to separate prescription food, this guarantees that each pet receives the proper nutrition at the appropriate time. These innovative products offer convenience, peace of mind, and new ways for pet owners to care for and bond with their pets, further stimulating the industry growth. Moreover, pet accessories incorporating interactive technology and enrichment features have become increasingly popular among pet owners seeking to keep their pets mentally stimulated and engaged. Interactive toys equipped with sensors, lights, sounds, and motion detectors can provide hours of entertainment and exercise for pets, helping to prevent boredom and alleviate behavioral issues such as excessive chewing or scratching. These factors are further expected to bolster the pet accessories market revenue.

Growing E-Commerce Platforms and Product Innovation

Online retail and e-commerce platforms offer unparalleled convenience and accessibility for pet owners to browse and purchase pet accessories from the comfort of their homes. This convenience factor has contributed to the overall growth of the pet accessories market by making it easier for consumers to find and purchase products without the need to visit physical stores. For instance, in June 2022, PetKonnect, an online pet products and services aggregator in India, launched an online prescription drug delivery service and an e-commerce platform for pet supplies to provide top-notch items and medications to customers for their furry pets from the comfort of their houses anywhere in India. In addition, e-commerce platforms provide access to a vast array of pet accessories from various brands, including both well-known manufacturers and niche, independent designers. This wider product selection allows pet owners to explore different options, compare prices and features, and find the perfect accessories to suit their pets' needs and preferences. Apart from this, various companies are launching special events for pets which is further escalating the demand for pet accessories. For instance, in May 2024, Aumuca, a brand known for its proficiency in pet hair care products, introduced Pet Day X Happy Mother's Day in a new initiative form. This unique occasion seeks to showcase the brand's commitment to the happiness and well-being of all animals, viewing them as treasured members of the family. These factors are positively influencing the pet accessories market’s recent prices.

Pet Accessories Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, pet type, and distribution channel.

Breakup by Product Type:

• Pet Toys
• Housing and Bedding
• Carriers
• Grooming Products
• Collars and Harness
• Others
   

Housing and bedding accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes pet toys, housing and bedding, carriers, grooming products, collars and harness, and others. According to the report, housing and bedding represented the largest segment.

According to the pet accessories market overview, housing and bedding represent the largest market share, as it encompasses a variety of products tailored to provide comfort and security for pets. It includes various items like beds, cushions, crates, and indoor kennels. Moreover, the growing prevalence of pet humanization, encouraging owners to seek products that provide comfort and align with their home decor and lifestyle choices, is boosting the market growth. In addition to this, the development of orthopedic and hypoallergenic bedding options, temperature-controlled beds, and aesthetically pleasing and space-efficient designs are strengthening the market growth. For instance, in March 2023, Discover NIGHT, a beauty textiles company, launched its first-to-market Silk Pet Bed. The Discover NIGHT Silk Pet Bed is intended to provide anti-shedding, allergy, and skin irritation protection to pets of all breeds. The ultra-comfortable pet bed is made of 90% Mulberry Silk and 10% Spandex, which has been lab-certified to meet the strictest durability standards for pet beds.

Breakup by Pet Type:

• Dogs
• Cats
• Horse
• Rabbits
• Others
   

Dogs holds the largest share in the industry

A detailed breakup and analysis of the market based on the pet type has also been provided in the report. This includes dogs, cats, horses, rabbits, and others. According to the report, dogs accounted for the largest market share.

As per the pet accessories market outlook, dogs hold the largest market share as their products in the segment include several items that are designed to cater to the diverse needs of dogs. They include a variety of toys, bedding, grooming products, food and water bowls, leashes, collars, and health care items. Furthermore, rapid innovation in dog accessories that focus on enhancing the health, comfort, and safety of dogs, such as orthopedic beds for older dogs, smart collars with health monitoring features, and ergonomic harnesses, is acting as a growth-inducing market. Moreover, the inclusion of specialized products for training and behavior modification is also positively impacting the pet accessories market forecast. For instance, in February 2024, PawCo Foods, a plant-based pet nutrition business dedicated to providing high-quality, sustainable, and scientifically developed food for dogs, announced a US$ 2 Million seed investment by Elevate Ventures and several angel investors, including Dropbox.

Breakup by Distribution Channel:

• Offline
• Online
   

Offline represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online and offline. According to the report, offline represented the largest segment.

Offline channels represent the largest share of the market, encompassing various retail channels such as pet stores, supermarkets, and specialty stores. Moreover, the increasing popularity of offline channels due to the tactile nature of shopping for pet accessories, as consumers prefer to physically examine products before purchasing, is contributing to the market growth. Pet owners value the ability to assess the size, quality, and suitability of items like beds, collars, and toys in person. Additionally, offline channels provide immediate gratification with no waiting time for delivery. Along with this, specialist pet stores provide the added advantage of expert advice and a wider range of products specifically tailored to pets. 

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest pet accessories market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

According to the pet accessories market statistics, North America represents the largest market share, driven by high pet ownership rates, substantial spending on pet care, and a strong presence of pet accessory manufacturers and brands. Moreover, the increasing humanization of pets in the region, leading to higher expenditure on premium and luxury pet products, is fostering the market growth. Additionally, the market is characterized by the availability of a wide range of products, including advanced technological items like global positioning system (GPS) trackers and automated feeders, along with health-focused products, such as organic foods and wellness supplements. For instance, in December 2023, PE-backed Thrive Foods acquired Canature, a pet food company based in Canada.

Competitive Landscape:

Major players in the market are engaging in a variety of strategic activities to maintain and enhance their market positions. They are investing in research and development (R&D) to innovate technologically advanced products that cater to the evolving needs of pet owners. Moreover, some companies are focusing on creating smarter, connected products that integrate with mobile technology, such as GPS trackers for pets, automated feeders, and health monitoring devices. Besides this, several players are expanding their product ranges to include eco-friendly and sustainable options, responding to the heightened consumer demand for environmentally responsible products.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Ancol Pet Products Limited
• Bed Bath & Beyond Inc.
• Blueberry Pet
• Cycle Dog LLC
• Designer Pet Products
• Ferplast S.p.A.
• Honest Pet Products
• Inter IKEA Systems B.V.
• Muttluks Inc.
• Platinum Pets LLC
• Radio Systems Corporation
• Rolf C. Hagen Inc.
• Rosewood Pet Products Ltd.
• Simply Fido LLC
• The Hartz Mountain Corporation (Unicharm Corporation)
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Pet Accessories Market Recent Developments:

• April 2024: Honda launched a new range of pet-friendly travel accessories for Honda WR-V. These accessories are designed to elevate the travel comforts for pets.
• March 2024: Enami signed an agreement to invest Rs 1.95 crore in Cannis Lupus Services India, which is engaged in the business of services for pets.
• December 2023: Celine launched a new collection of luxury dog accessories to upscale the overall look of the pet. This range showcases supple suedes and smooth calfskin.

Pet Accessories Market Report Scope:

Key Questions Answered in This Report

• How has the global pet accessories market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global pet accessories market?
• What is the impact of each driver, restraint, and opportunity on the global pet accessories market?
• What are the key regional markets?
• Which countries represent the most attractive pet accessories market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the pet accessories market?
• What is the breakup of the market based on the pet type?
• Which is the most attractive pet type in the pet accessories market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the pet accessories market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global pet accessories market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pet accessories market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global pet accessories market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pet accessories industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.