DUBLIN, August 05, 2021--(BUSINESS WIRE)--The "Pet Oral Care Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Animal; Product; End User; Distribution Channel, and Geography" report has been added to ResearchAndMarkets.com's offering.
According to this report the market is expected to reach US$ 2,270.33 million by 2028 from US$ 1,465.07 million in 2021; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028. The report highlights the trends prevailing in the market along with the market drivers and deterrents. The factors such as increasing adoption of pets for companionship and high prevalence of dental diseases in pets drive the market growth. However, the lack of adoption of pet care products in developing countries hinders the market growth.
Pets are considered the best companion for humans as they create a positive effect on their owner's life. They promote active lifestyle with companionship and have also been able to detect oncoming epileptic seizures. Also, pets help bring social, emotional, and cognitive development in children, as well as relieve stress and anxiety in adults. Research studies have shown that the dog owners have 36% lower risk of dying from cardiovascular disease and an 11% lower risk of getting heart attack. As per the National Pet Owners Survey 2019-2020, conducted by the American Pet Products Association (APPA), 67% of the US households, i.e., ~85 million families, own a pet. This indicates 56% rise since 1988, the first year when the survey was conducted.
As per the American Society for the Prevention of Cruelty to Animals, ~6.5 million companion animals enter the countrywide animal shelters every year; however, the number has declined from ~7.2 million in 2011, which indicates an increase in animal adoption. Moreover, as per the European Pet Food Industry Federation (FEDIAF), cats remain the most popular pet in European households, with a population of 74.4 million. The popularity of dogs is growing as there were 66.4 million pet dogs in the EU (84.9 million in Europe and Russia) in 2017, compared to 63.7 million (82.2 million) in 2016. According to the People's Dispensary for Sick Animals (PDSA) Animal Wellbeing (PAW) Report 2019, 50% of the UK population owns a pet. Also, 24% of the UK adults have a cat with an estimated population of 10.9 million pet cats and 26% of them own a dog with an estimated population of 9.9 million pet dogs. Hence, the growing adoption of pets for companionship is fueling the growth of the pet oral care products market.
The COVID-19 pandemic is having the mixed impact on the pet oral care products market. Sales have spiked for pet oral care products at home, do-it-yourself, driven by the closure of veterinary clinics and professional salons. Some online retailers also reported strong sales in the lockdown period. For instance, Chewy.com has been witnessing an acceleration in sales since February 2020. Chewy.com generates around 70% of its sales through subscribed customers. All these developments suggest increased penetration of online business due to the pandemic.
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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the pet oral care products market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global pet oral care products market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
Increasing Adoption of Pets for Companionship
High Prevalence of Dental Diseases in Pets
Lack of Adoption of Pet Care Products in Developing Countries
Increasing Initiatives by the Governments and Animal Welfare Associations
Product Innovation in Pet Oral Care
Dechra Veterinary Products, LLC
Hills Pet Nutrition, Inc.
TropiClean Pet Products
For more information about this report visit https://www.researchandmarkets.com/r/h52ve9
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005777/en/
Laura Wood, Senior Press Manager
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