LONDON--(BUSINESS WIRE)--According to the latest market research study released by Technavio, the global pet accessories market is expected to exceed USD 19 billion by 2020, growing at a CAGR of over 5% during the forecast period.
This research report titled ‘Global Pet Accessories Market 2015-2019’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.
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The report segments the global pet accessories market by product and can be divided into four broad categories:
- Global pet toys market
- Global pet housing, bedding, and feeding market
- Global pet collars, leashes, and utility market
- Global other pet accessories market
Global pet toys market
The global pet toys market is expected to reach USD 10 billion by 2019, growing at a CAGR of over 7%.
The market for pet toys has garnered immense popularity among developed as well as developing countries. Pet toys are purchased by almost all pet owners for various reasons such as ensuring a certain level of activity for pets.
Additionally, new product variations and greater options are being provided to consumers which has further enabled the market to grow. According to Brijesh Kumar Choubey, a lead research analyst at Technavio for pet supplies, “There is a rising popularity of natural and organic pet toys as they are considered to be a safer option for pets. One example of an organic toys manufacturer is Simply Fido, which is one of the leading organic toy manufacturer in the US.”
There is also a number of interactive pet toys being launched in the market, which are becoming increasingly popular such as the iFetch, which is a machine that automatically launches balls for the dog to play with.
Global pet housing, bedding, and feeding market
The global pet housing, bedding, and feeding market is expected to cross USD 5 billion by 2019, growing at a CAGR of over 4% , making it the second most prominent segment in the global pet accessories market.
Housing and bedding products for pets are mainly popular in developed regions of the Americas and Europe, where manufacturers are coming up with new product innovations to help pet owners adopt to a much more convenient lifestyle. For example, the Petmate Translucent Vari Kennel is an easy-to-use portable housing option for mobile pet owners. These kennels can be dismantled and assembled easily, providing a convenient travel option.
Travel bags for small pets are also immensely popular in this segment. Vendors such as Sherpapet, Petco, and Overstock.com offer a large variety of pet travel bags for small pets.
Global pet collars, leashes, and utility market
The global pet collars, leashes, and utility market is expected to exceed USD 3 billion by 2019, growing at a CAGR of over 4%.
Collars, being one of the most necessary items for canine and feline pets, have undergone many product innovations over the years. One such innovation is that of the smart pet collar, which helps locate the pet in an instant. The Walkabout Glow Leash is another innovative product which consists of a retractable leash made with glow in the dark molds, which can enable owners to locate their pets in the dark.
Anti-flea and anti-tick utility collars have also become immensely important for pet owners, as these collars prevent fleas from nesting on the pet.
Global other pet accessories market
The global other pet accessories market is expected to reach USD 1 billion by 2019, growing at a CAGR of over 2%.
The other pet accessories segment, includes different types of pet apparel, sunglasses, strollers, and agility devices. Pet agility devices include tunnels, hoops, and various other training devices.
“Although this segment holds the lowest market share, it holds immense potential if you consider the rate at which pet ownership is increasing in the developing countries,” says Brijesh.
Technavio analysts highlight the following six vendors as the top contributors to the global pet accessories market:
- Ancol Pet Products Ltd.
- Beaphar
- Ferlast Spa
- Rolf C Hagen Inc.
- Rosewood Pet Products
- Hartz Mountain Corporation
Browse Related Reports:
- Global Pet Care Market 2015-2019
- Pet Food Market in the US 2015-2019
- Pet Food Packaging Market in US 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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