DUBLIN--(BUSINESS WIRE)--The "Pet Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Pet Hair Care Market is expected to register a CAGR of 6% during the forecast period (2021-2026).
- CHI Haircare
- Elanco Animal Health Incorporated
- General Nutrition Centers Inc.
- Innovacyn Inc. (Veterycin)
- Petkin Inc.
- Spectrum Brands Inc. (FURminator)
- The Clorox Company (Burts Bees)
- Zoetis Inc.
Key Market Trends
Dog Segment is Expected to Hold a Significant Market Share During the Forecast Period
By animal type, the dog segment of the pet hair care market is expected to hold significant market share because of the growing dog population which is leading to high expenditure on dog health products and thereby driving the market growth. According to the WorldAtlas, there are approximately 900 million dogs around the world and their numbers are growing. Also, according to Petsecure Pet Insurance (2020), the number of dogs across the different countries is as follows: China: 27,400,000, Japan: 12,000,000 United Kingdom: 9,000,000, France: 7,570,000 and Australia: 3,700,000.
Furthermore, the human-centric personal care brands have entered the pet grooming space, with Hempz, Wet Brush, and Waterpik all releasing successful pet product crossovers; however, retailers and brands need to offer easy-to-use, comprehensive product kits that satisfy a variety of grooming needs as consumers familiarize themselves with at-home pet care.
The main difference between a dog and human products is that ingredients in pet formulations in the United States require approval in line with the Toxic Substances Control Act (TSCA). Also, dogs' skin pH is slightly higher, 7.0, and slightly less acidic than that of humans, which is in the 6.0 range.
In 2021, luxury hair-care brand Ouai launched its Fur Bebe pet shampoo to coincide with National Puppy Day. The brand originally debuted a limited-edition run of the product in 2018, but now the shampoo for pets, such as for dogs and cats is part of the brand's permanent collection. Thus, owing to the aforementioned factors, the studied segment is expected to witness significant growth over the forecast period.
North America Dominates the Market Over the Forecast Period
Geographically, North America is anticipated to dominate the pet hair care market. The factors such as increasing companion animal adoption and increasing per capita animal healthcare expenditure are the factors that are expected to help the region to retain its large market share.
According to the American Pet Products Association (APPA), there is an increase in expenditure on the pet industry in the United States. The total U.S pet industry expenditure was around USD 97.1 billion in 2019, while the expenditure in 2018 was USD 90.5 billion.
Also, according to the 2019-2020 National Pet Owners Survey conducted by APPA, 67% of the US households, or about 85 million families, own a pet. This is up from 56% of US households in 1988, the first year the survey was conducted. Dogs and cats are the most common in the U.S household that owns a pet with a population of nearly 63.4 million and 42.7 million, respectively. Since the past few years, people have been willing to spend more on premium products for their companion animals. The spending on the humanization of pets has been increasing significantly across the world. This factor is also expected to drive the demand for hygiene products in the near future.
In addition, the companies are engaging themselves in merger and acquisition activities, in order to expand their business. For instance, in March 2018, BioAdaptives Inc., acquired a Philco Animal Health Inc., which is a Canadian veterinary product company, in order to expand its portfolio. Thus, the rise in adoption of pet animals led to the increased spending on pet haircare products. This is expected to boost the overall growth of the pet haircare market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Adoption of Pets
4.2.2 Rise in Hair Problems and Growing Need for Natural Products
4.2.3 Product Innovations
4.3 Market Restraints
4.3.1 Lack of Awareness Regarding Specialized Products
4.3.2 Side Effects and Allergies Associated with Products
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.2 Animal Type
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ubuxwn