Global Animal Hair Care Industry To 2026
Dublin, 08 Oct 2021 (GLOBE NEWSWIRE) – The report “Pet Hair Care Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The Pet Hair Care Market is expected to register a 6% CAGR during the forecast period (2021-2026)
Currently, the current COVID-19 pandemic situation has resulted in a dramatic increase in the number of pet adoptions. Several animal shelters, nonprofit relief organizations, private breeders and pet stores have observed an increase in consumer demand. Foster Inc., a nonprofit, claimed to have seen a more than 1,000% increase in intake requests during the lockdown period in New York City, which was the epicenter of COVID-19 cases in the United States. United. Additionally, the Society for the Prevention of Cruelty to Animals, Los Angeles, reported that the adoption rate doubled by June 2020, with daily adoptions of around 10 to 13 per day. The increasing adoption of pets may drive the growth of the studied market in the longer term.
Factors driving the growth of the market include the growing adoption of pets coupled with an increase in hair problems, and the growing need for natural products and product innovations.
According to the 2019-2020 National Pet Owner Survey conducted by the American Pet Products Association (APPA), 67% of U.S. households, or roughly 85 million families, own a pet. In addition, according to the 2018 American Society for the Prevention of Cruelty to Animals (ASPCA) report, each year approximately 6.5 million pets enter animal shelters, nationwide, in the states. -United. Thus, the increase in the adoption of pets is expected to increase the spending on the hair care needs of these animals, which in turn is expected to drive the market growth during the forecast period.
Moreover, growing awareness campaigns may also help in the growth of the pet hair care market. For example, in July 2020, Zoetis announced its second âItchy Pet Awareness Monthâ campaign, which aims to educate veterinarians and pet owners about the seriousness of skin allergies and how treating them faster can dramatically improve the life of pets. All of these factors are expected to positively impact the growth of the market during the forecast period. However, side effects and allergies associated with hair care products are expected to hamper the growth of the market.
Key market trends
Dogs segment is expected to hold significant market share during the forecast period
By animal type, the canine segment of the animal hair care market is expected to hold a large market share owing to the growing canine population which leads to high expenditure on dog health products and thus drives the growth. of the market. around 900 million dogs in the world and their numbers are increasing. Also, according to Petsecure Pet Insurance (2020), the number of dogs in different countries is as follows: China: 27,400,000, Japan: 12,000,000 UK: 9,000,000, France: 7,570,000 and Australia: 3 700,000.
Additionally, human-centric personal care brands have entered the pet grooming space, with Hempz, Wet Brush, and Waterpik all releasing successful pet product crosses; However, retailers and brands need to come up with comprehensive, easy-to-use product kits that meet a variety of grooming needs as consumers become more familiar with pet home care.
The main difference between dog products and human products is that the ingredients in pet formulations in the United States must be approved under the Toxic Substances Control Act (TSCA). In addition, the skin pH of dogs is slightly higher, 7.0, and slightly less acidic than that of humans, which is in the range of 6.0.
In 2021, luxury hair care brand Ouai launched its Fur Bebe pet shampoo on National Puppy Day. The brand initially launched a limited edition 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, due to the above-mentioned factors, the segment studied is expected to experience significant growth during the forecast period.
North America dominates the market during the forecast period
Geographically, North America is expected to dominate the pet hair care market. Factors such as increased pet adoption and increased per capita animal health spending are factors that are expected to help the region maintain its significant market share.
According to the American Pet Products Association (APPA), there is an increase in spending for the pet industry in the United States. Total U.S. pet industry spending was around $ 97.1 billion in 2019, while spending in 2018 was $ 90.5 billion.
Additionally, according to the 2019-2020 National Pet Ownership Survey conducted by the APPA, 67% of U.S. households, or roughly 85 million families, own a pet. This is an increase from 56% of US households in 1988, the first year the survey was conducted. Dogs and cats are most common in US households that own a pet with populations of nearly 63.4 million and 42.7 million, respectively. In recent years, people have been willing to spend more on premium products for their pets. Spending on the humanization of companion animals has increased significantly across the world. This factor is also expected to stimulate the demand for hygiene products in the near future.
In addition, companies engage in merger and acquisition activities in order to expand their business. For example, in March 2018, BioAdaptives Inc. acquired Philco Animal Health Inc., a Canadian veterinary products company, to expand its portfolio. Thus, the increase in the adoption of pets has resulted in an increase in spending on pet hair care products. This is expected to drive the overall growth of the pet hair care market.
The global pet hair care market is highly fragmented and consists of a number of major players. Companies like Elanco Animal Health Incorporated, Clorox Company (Burt’s Bees), CHI Haircare, General Nutrition Centers Inc., Innovacyn Inc. (Veterycin), Petkin Inc., SynergyLabs, Spectrum Brands Inc. (FURminator), Vetoquinol and Zoetis Inc .., among others, hold substantial shares in the pet hair care market.
Reasons to buy this report:
- The Market Estimate (ME) sheet in Excel format
- 3 months of analyst support
Main 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 companion animals
4.2.2 Increase in hair problems and growing need for natural products
4.2.3 Product innovations
4.3 Market restrictions
4.3.1 Lack of awareness of specialized products
4.3.2 Side effects and allergies associated with the 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
6.1.1 CHI Hair Care
6.1.2 Elanco Animal Health Incorporated
6.1.3 Centers de Nutrition GÃ©nÃ©rale Inc.
6.1.4 Innovacyn Inc. (Veterycin)
6.1.5 Petkin Inc.
6.1.6 Synergie Laboratories
6.1.7 Spectrum Brands Inc. (FURminator)
6.1.8 The Clorox Company (Burts Bees)
6.1.10 Zoetis Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/vx7bsu