Pet Carriers Market Overview: Market Size, Major Drivers And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The pet carriers market has seen substantial growth in recent years, driven by various factors such as pet ownership trends, urbanization, and the humanization of pets. With projections indicating continued expansion, let’s delve into the key drivers and trends shaping this burgeoning industry.
Market Growth Overview
- Strong recent growth: Market size increased from $906.83 billion in 2023 to $958.75 billion in 2024.
- Compound annual growth rate (CAGR) of 5.7%.
- Projected growth: Expected to reach $1210.97 billion in 2028, with a CAGR of 6.0%.
Drivers of Growth
- Pet Adoption Boom Ignites Growth In Pet Carrier Market
- Rising pet adoption: Adoption rates surged, driving demand for pet carriers.
- Examples: Notable increases in pet adoption rates reported in the US and Australia.
- Companies driving the market: Paws & Pals Inc., MidWest Homes for Pets, and many more.
- Product Innovations In The Pet Carrier
- Technological advancements: Companies focus on innovative solutions.
- Example: Delta Air Lines’ CarePod with built-in hydration and GPS tracking.
- Market players: Pet Value Holdings, Chico Inc., among others.
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https://www.thebusinessresearchcompany.com/report/pet-carriers-global-market-report
Strategic Acquisitions
- Pet Value Holdings Expands Portfolio With Strategic Acquisition Of Chico Inc.
- Acquisition details: Pet Value Holdings acquired Chico Inc. to enhance premium offerings.
- Impact: Strengthening market presence and expanding coverage, particularly in Canada.
Market Segmentation
- By Product Type: Soft-Side Bag, Hard Kennel, Backpack, Sling Carrier
- By Pet Type: Dogs, Cats, Guinea Pig
- By Sales Channel: Supermarkets, Specialty Stores, Online Stores, Other Channels
Regional Insights
- North America: Largest region in 2023.
- Asia-Pacific: Expected to be the fastest-growing region during the forecast period.
Conclusion
The pet carriers market is witnessing significant growth, fueled by various factors including pet adoption trends, technological innovations, and strategic acquisitions. With a forecasted expansion in the coming years and a focus on product diversity and regional penetration, the industry presents promising opportunities for both existing players and potential entrants.
As the market continues to evolve, stakeholders must stay attuned to consumer preferences and industry developments to capitalize on the growing demand for pet carriers globally.
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The Pet Carriers Global Market Report 2024 provides an overview of the pet carriers market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pet carriers market forecast analyzes pet carriers market size, pet carriers market share, leading competitor and their market positions.
The Table Of Content For The Pet Carriers Market Include:
1. Pet Carriers Market Executive Summary
2. Pet Carriers Market Segments
3. Pet Carriers Market Size And Pet Carriers Market Growth Rate
4. Key Pet Carriers Market Trends
5. Major Pet Carriers Market Drivers
……
25. Key Mergers And Acquisitions In The Pet Carriers Market
26. Top Pet Carriers Companies
27. Pet Carriers Market Opportunities And Strategies
28. Pet Carriers Market, Conclusions And Recommendations
29. Appendix
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