Pet Market Analysis By Future Demand, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2032
The pet market size (purchasing of pets) is projected to be worth US$ 16,607.2 Mn in 2022. Sales are anticipated to grow at a 7.5% CAGR from 2022 to 2032, valuing the entire market at US$ 34,140.7 Mn by that year.
Rapid urbanisation, rising disposable income, and health concerns are driving an increase in pet adoption and ownership, which is driving pet sales globally. Currently, houses with pets account for 70% to 8% of all households.
Similar to this, the expansion of the pet grooming and pet care industries, together with the rising trend of humanization, would likely fuel market growth throughout the projection period.
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