London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global pet accessories market 2015-2019, which is expected to grow at a CAGR of 5.65% during the forecast period of 2015-2019.
“Of late, the pet owners are increasingly buying premium pet accessories, as they treat their pets as a part of their family. Euro Dog designs and manufactures pure leather collars and leashes and the Sophisticated Pup showcases designer apparel for pets, which features luxury coats, made with materials like satin and euroluxe,” says Faisal Ghaus, Vice President of Technavio.
Pet toys lead the pet accessories market, covering almost half of the overall market share. With a rising level of pet obesity globally, these pet toys are often used to ascertain a set level of activity for pets. There is a rising popularity of natural and organic pet toys as they are considered to be a safer option for pets.
Source: Technavio, 2015
Key Market Drivers
- Increased pet ownership in developing countries
- Growth in organized retail
- Increase in nuclear families
- Growing popularity of online retail
Key Market Trends
- Pet humanization
- Inclination toward premium products
- Product innovations
- Stagnancy of pet ownership in developed countries
Key Market Vendors
- Ancol Pet Products Ltd.
- Beaphar
- Ferlast Spa
- Rolf C Hagen Inc.
- Rosewood Pet Products
- Hartz Mountain Corporation
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Pet Accessories Market 2015-2019, please send an e-mail to media@TechNavio.com.
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