Market Forecast
The global pet carriers market share size is projected to reach approximately USD 851.5million by 2028, at a CAGR of 3.95% from 2021 to 2028. The increasing interest in pet humanization, coupled with a growing demand for innovative fashionable accessories for pets, is one of the factors driving the market growth for pet carriers market share. Growing consumer spending in the household and pet products categories is expected to be the rising trend of pet humanization. Consumers treat their pets as family members, this upsurge pet humanization trend, which in turn influences the growth of the global pet carriers market share. Consumers are adopting small pets such as cats, dogs, and gunnies pigs, as they are more likely to be humanized. Owing to this, consumers are spending heavily for ensuring the best quality life for their pets. This leads to growing adoption of pet related products such as pet carriers. Owing to the increasing pet adoption, consumers are now spending huge amounts of their income on pet products thereby boosting the demand for pet carriers.
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However, the global pet carriers market share has been challenged by the corona virus pandemic and the slight effects of the pandemic may continue to be experienced over the coming years. Owing to the COVID-19 crisis, the short-term effects of the pandemic have affected the supply and demand of pet products, investors are skeptical whether the upsurge in pet products spending will alter or remain the same. Regardless of some disturbances caused by COVID-19 lockdown measures across the globe, the long-term growth potential of the sector remains unharmed. The current flow in pet ownership in a few countries is driven by increasing adoption and nurturing by people restricted to their homes.
Moreover, in some developing countries, there is a lack of awareness about pet related products among consumers which can hamper the growth of the pet carriers market share. Per capita income of middle and lower middle-class population in developing countries is less compared to developed countries. Owing to this, people with lower income do not consider pet accessories as a priority that may restrict the spending on pet related products, subsequently hindering the growth of the pet carriers market share. On the other hand, the presence of several small & private label players in the developing and under-developed economies is anticipated to restrict the growth of the market during the forecast period.
Market USP
Convenience and safety.
Growth Opportunities in the Market
Increasing technological innovations: Pet industry is growing with an increasing number of pet owners who are prioritizing their pets. Owing to this, there have been recent advancements in technologies. Several innovations have stimulated the market in the last couple of years. For instance, Jcpet Carrier concept helps in growing of pet transportation industry. There are many unpleasant experiences of traveling with pets, the concept of Jcpet carrier helps in providing pet owners with new way to travel with their pets both inside and outside environments. Pet owners want to stay connected and stay closer with their pets, and provide them a better living condition. This creates opportunities for manufactures in creating more caring, more functional and more intelligent products, which will help in creating a better bonding experience between humans and pets. As a potential solution for this, Jcpet Carrier helps in fulfilling these expectations. Jcpet Carrier represents a new generation of pet transport product. The carrier has smart management features which help pet owners in managing their pets and stay connected when they are not at home. Such innovative products create a huge growth opportunity for the manufacturers in global pet carriers market share.
Pet humanization: The pet humanization trend is influencing the market growth, with increasing consumer interest in treating pets as part of their family. The popularity of pet accessories among pet owners is increasing at a great speed, which has a positive impact on the market and is expected to contribute to significant growth during the forecast period. Some pet owners like representing their lifestyles by spending on comfortable and luxurious products for their pets. This creates growth opportunities for market competitors in global pet carriers market share for launching numerous new and customized products in the pet transport products segment.
Key Players
Manufacturers in the pet carriers market share focuses the preference and demands of consumers. Manufacturers are focused on fulfilling demands of pet owners and launching various innovative, different and interesting products for pets. Pet humanization is majorly influencing the pet carriers market share growth that leads to increasing number of companies investing in R&D to create new products. The objective of manufacturers is to focus on an acquisition strategy to strengthen their market position globally. Some of the key players working in the global pet carriers market share are.
K&H Manufacturing (US)
Sherpa Pet (US)
Quaker Pet Group (US)
Paws& Pals (US)
EliteField (US)
Snoozer (US)
Sleeko (US)
Prefer Pets Travel Gear (US)
Gen7Pets (US)
Outward Hound Home (US)
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