Find Out More About Pet Furniture Market Global Growth With Rising CAGR And Forecast Till 2025|Grand View Research, Inc.


The global pet furniture market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 5.2% over the forecast period. Rising spending on domestic animal, along with rapid expansion of multi-utility furniture product forms, is expected to remain the key driving factor.
Over the past few years, raising expensive breeds of dogs and cats has been a status symbol across the globe. In addition, rising number of nuclear families in developed economies including Germany, U.K., and France has increased the domestic animal adoption rate for the family companionship.                                                     
Asia Pacific is expected to witness the fastest growth in the pet furniture market, expanding at a CAGR of 6.4% from 2019 to 2025. China, India, Japan, Australia, and South Korea are the some of the rapidly growing markets in this region. The domestic animal population in China increased from 389 million in 2013 to 755 million in 2017, growing at a significantly high rate. To cater to this growing trend, spending in this sector was pegged at USD 24 billion in 2018.
Key players in this industry include North American Pet Products; Go Pet Club; MidWest Homes For Pets; PetPals Group, Inc.; Ware Pet Products; Ultra Modern Pet; Inkgrid; and Inter IKEA Systems B.V. Over the past few years, online sales of the product have increased remarkably over the world. Therefore, manufacturers in this industry are emphasizing on ecommerce distribution channels. China and U.S. have witnessed growth in online sales in recent years.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/pet-furniture-market/request/rs4
Shanghai, Beijing, Tianjin, Chengdu, and Guangzhou are the major markets in China. Rising income of consumers in this economy is boosting the demand for the product. On the other hand, 92% of cat owners and 76% of dog owners in Australia keep their pets indoors. This trend raises the demand for furniture in this nation. Furthermore, New Zealand had the highest percentage of domestic animal ownership in the global household sector in 2018, which stood at 68%.
Local and small players in this market are playing a significant role in the industry. Over the past few years, organic and ecofriendly raw materials have gained significant popularity across the globe. Most of the animals have a habit of chewing on things, which makes natural furniture more suitable. Currently, major players in this industry are focusing on this product segment to cater to the new trend. For instance, in August 2018, Nest Bedding launched a new product line of organic beds for domestic animals.
Further key findings from the study suggest:
  • By product, beds and sofas are expected to witness the fastest growth, expanding at a CAGR of 5.7% from 2019 to 2025
  • On the basis of application, the dogs segment held the largest market share in 2018 and accounted for 43.2% of the overall revenue
  • Key players in the industry include Go Pet Club; North American Pet Products; PetPals Group, Inc.; MidWest Homes For Pets; Ware Pet Products; Inkgrid; Inter IKEA Systems B.V.; Nest Bedding; and Ultra Modern Pet.
  • North America held the largest share in 2018, accounting for 40.0% of the overall market
  • Asia Pacific is expected to witness the fastest growth, registering a CAGR of 6.4% from 2019 to 2025
Consumer demand for innovative and fashionable pet accessories such as furniture is rising significantly. Over the past few years, furniture has evolved significantly across the world. Manufacturers in this industry are focusing on multi-functional and stylish product innovation, which can serve the requirement of pet owners. They have been following a design-driven approach, which can complement the home décor of the pet owner. The material of the products are also changing over the years. Manufacturers are using designer prints and premium fabrics, faux furs, and wickers for their products. Natural and environment-friendly raw materials such as jute and banana leaves are also gaining popularity among consumers.
Spending on domestic animals has been rising significantly over the world. Owners are spending significant amount on toys, clothing, beds, travel accessories, collars, leashes, bowls, medicine, gifts, grooming services, and veterinary services. Millennial population is increasing its spending relatively higher than other age group. As of 2018, around 35.0% of owners belonged to the millennials age group on a global level. Rise in spending, along with the overwhelming passion of the millennials age group, is fueling the industry growth across the globe. Generally, domestic animals are treated like a family member, which encouraged the owners to spend more time on them.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-pet-furniture-market
Beds and sofas held the largest market share of more than 35.0% in 2018. A range of beds and sofas are available in the industry, which are designed according to the weight, size, and shape of the user. Over the past few years, demand for temperature control and orthopedic beds has been rising notably due to their health benefit. Orthopedic beds offer support to backbone, muscles, and joints, and prevent joint problems. On the other hand, electrical heating beds are also available in both heavy padding and thin padding. Similarly, gel packs are included to keep the bed cool in summer. Donut beds, bolster beds, pillow or cushion beds, and outdoor cots are also gaining popularity over the years. Polypropylene, silica, and glycerin made beads are also used for decoration purpose. Growing cat adoption on a global level is driving the demand for trees and condos.
Grand View Research has segmented the global pet furniture market on the basis of product, application:
Pet Furniture Product Outlook (Revenue, USD Million, 2015 - 2025)
  • Beds & Sofas
  • Houses
  • Trees & Condos
  • Others
Pet Furniture Application Outlook (Revenue, USD Million, 2015 - 2025)
  • Cats
  • Dogs
  • Others
Birds and fishes are also very common domestic animals across the globe. In terms of bird ownership, Brazil, Italy, U.S., Australia, France, Netherlands, Spain, and Germany are the prominent markets. Similarly, in terms of fish ownership, U.S., France, Brazil, Australia, U.K., and China are key economies.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more