Smart Pet Accessories Market: By Pet (Dog, Cat, Others), By Product Type (Pet Doors, Pet Feeders, Tracking Collars, Tracking Harness, Pet Housing, Pet Bedding Accessories, Grooming Products, Training, Others), By Distribution Channel (Specialist Retailers, Factory Outlets, Internet Sales, Department Stores, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Smart Pet Accessories Market to surpass USD 33.6 billion by 2031 from USD 17.9 billion in 2021 at a CAGR of 6.5% in the coming years, i.e., 2021-2031.
Products for daily pet care and grooming are known as Smart Pet Accessories. These clever pet accessories enable everyone's lives to be easier and help pet owners and their pets form quick ties. There are a ton of clever pet accessories that can enable you to continue your hectic lifestyle while also achieving all your pet goals. You can make sure that your pet is taken care of in all those capacities and more with applications that manage their health, smart feeders that track their diet, and toys that are intuitive for their delight.
Global Smart Pet Accessories Market to surpass USD 33.6 billion by 2031 from USD 17.9 billion in 2021 at a CAGR of 6.5% in the coming years, i.e., 2021-2031. The increased need for remote pet monitoring to improve pet safety, the expanding popularity of pet adoption, the rising cost of pet care, and the growing number of pet tech firms are all factors contributing to the market's expansion. Moreover, the rising availability of luxury pet products and the demand for such products among millennial are some of the other factors anticipated to propel market growth. Other factors include growing advancements in the development of active health tracking, feeding, and monitoring devices for pets.
Based on Pet, the global Smart Pet Accessories Market is fragmented into Dog, Cat, and Others. Over the course of the forecast, the Dog segment is anticipated to dominate the market. According to studies, dogs are easier to train, go potty outside, can defend you, and encourage an active lifestyle. Having a dog is preferable to having a cat because of all the advantages. And it is conceivable to love both while believing that one is superior to the other.
Global Smart Pet Accessories Market is classified on the basis of Product Type into Pet Doors, Pet Feeders, Tracking Collars, Tracking Harness, Pet Housing, Pet Bedding Accessories, Grooming Products, Training, and Others. The pet doors segment is projected to generate a significant amount of market revenue and hold the highest market share over the forecast period. The market is further divided into three subgroups: microchip flaps, microchip doors, and connected doors. The linked doors segment is expected to experience the fastest revenue growth in the future.
Gaining Popularity of Pet Products and Emerging Market of Pet Toys
Particularly in the developed economies of North America and Europe, pet-specific housing and bedding goods are becoming more and more popular. Manufacturers focusing on these areas place a strong emphasis on product innovation to help pet owners embrace a convenient lifestyle. On the other hand, both established and developing nations are seeing significant growth in the market for pet toys. The desire of pet owners to provide their animals with ongoing activity is driving the growth in pet toy purchases. The demand for natural and organic accessories and toys is rising as pet owners prioritize their pets' safety.
Growing Awareness for Smart Pet Accessories
The market is expected to rise in the coming years due to a number of other variables, including rising health tracking device technology, more awareness of smart pet accessories, and an increase in cases of sick pets.
High Cost of Devices and Costly Maintenance
Barriers to the market for smart pet accessories include high device and maintenance costs as well as a general lack of knowledge of these goods.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Smart Pet Accessories Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Owing to the rise in home smart smoke alarms, Europe dominates the market for smart pet accessories. The presence of significant key players will also help the market for pet accessories in the area grow over the forecast period. As a result of rising disposable income, North America is predicted to have significant expansion in the pet accessories market. Additionally, it is projected that rising spending on pet wellness will further fuel the expansion of the pet accessories market in the area during the ensuing years.
The industry for pet accessories has been significantly impacted by the COVID-19 outbreak. Sales and revenue in the pet accessory sector have declined as a result of the lockdown brought on by the coronavirus outbreak, since distribution channels, such as specialized stores have shut down to prevent mass gathering. Due to transportation restrictions, there has been an impact on online pet accessories retailers. The shutdown of manufacturing facilities and a labor shortage have had an influence on the production of pet accessories. The COVID-19 epidemic has affected sales of pet accessories because of restrictions on export and import in a number of nations.
Market size value in 2021
USD 17.9 billion
Revenue forecast in 2031
USD 33.6 billion
CAGR of 6.5% from 2021 to 2031
Base year for estimation
Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Pet, Product Type, Distribution Channel, and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
Ancol Pet Products Limited, Beeztees, Cycle Dog, Petmate (Doskocil Manufacturing Company Inc.), Ferplast S.p.A., Honest Pet Products, Innovation Pet Inc., MidWest Homes for Pets, Central Garden & Pet Company, Petstages Inc., Rolf C. Hagen Inc., Rosewood Pet Products, Spectrum Brands Holdings Inc., Simply Fido LLC, The Hartz Mountain Corporation, Worldwise Inc., and Other Prominent Players.
Smart Pet Accessories Market size was estimated at USD 17.9 billion in 2021 and is expected to reach USD 33.6 billion in 2031.
Animals kept by humans as pets, sometimes referred to as companion animals, are meant to bring them comfort and company. In various places of the world, different kinds of animals are kept as pets. Animal goods are included in pet accessories, which are also sold in pet retailers.
The Dog segment accounted for the largest Smart Pet Accessories Market share.
Key players in the Smart Pet Accessories Market include Ancol Pet Products Limited, Beeztees, Cycle Dog, Petmate (Doskocil Manufacturing Company Inc.), Ferplast S.p.A., Honest Pet Products, Innovation Pet Inc., MidWest Homes for Pets, Central Garden & Pet Company, Petstages Inc., Rolf C. Hagen Inc., Rosewood Pet Products, Spectrum Brands Holdings Inc., Simply Fido LLC, The Hartz Mountain Corporation, Worldwise Inc., and Other Prominent Players.
The expansion of the smart pet accessories market is anticipated to be fueled by an increase in pet ownership and a rising demand for pet items on a global basis.
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