29 July 2020
Visiongain has launched a new report Pet Care E-Commerce Market Report 2020-2030: Forecasts by Product (Pet Food, Pet Grooming Products, Pet Medications), by Animal Type (Large Animals and Small Animals), and by Region (North America, Europe, Asia Pacific, Latin America & MEA), Including Forecasts by Major Developed Countries and Developing Countries, Plus Profiles of Leading Companies.
There is an increase in the number of pet owners globally increasing the demand for pet care products. In the US, almost $72 billion was on pets in 2018. As more number of people have started considering pets as part of their family, more number of people are willing to spend more on pet care products such as food and grooming products. Thus, the shift in trend from pet ownership to pet parenting observed globally is boosting the demand for pet care e-commerce. Pet food is the largest contributor to the pet care e-commerce market owing the availability of wide range of pet food and presence of superior quality food.
The convenience of choosing the required pet care product from home and receiving it at their doorstep in a few days is a major driving factor for the growth of pet care e-commerce market. Furthermore, the advancement in e-commerce technology from the ease of developing an online platform to creating a strong online presence for pet store has helped to further increase the adoption of online shopping for pet care products. Thus, there is an increase in preference among pet owners for online pet care shopping over mortar stores. These factors are expected to increase the demand for pet care e-commerce in the near future.
The e-commerce companies have adopted some strategies such as online deals and timely updates regarding the availability of new products to promote better sales of pet care products, which in turn has positive impact in the market growth. The increase in animal healthcare expenditure, growing mobile pet grooming business, and rise in prevalence of zoonotic diseases further drives the growth of global pet care e-commerce market. However, the high pet care cost and lack of awareness in developing countries are expected to hamper the market growth.
The Visiongain report analyst commented “the increase in number of pets globally and increasing the purchasing power of the pet owners are increasing the demand for pet care products globally. The high prevalence of diseases among pets has increased the demand pet medicines online. Moreover, the convenience provided by e-commerce companies and the user friendly webpages are further driving the growth of the pet care e-commerce market”.
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Amazon, Walmart, Chewy, Petco Animal Supplies, Inc., Groomers Delight, PETstock, PetSmart Inc., PetMed Express, Inc., TABcom LLC, and BarkBox.
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