The global Pet Furniture Market is expected to reach USD 3.0 billion, by 2025, according to a new report released by Million Insights. The market is expected to grow with a CAGR of 5.2% during the forecast period. The growing trend of pet humanization has led to a rise in spending on pet products. In addition, the availability of multi-functional pet furniture is a key factor supplementing the market growth.
Key Players:
Go Pet Club, PetPals Group, Inc., Inter IKEA Systems B.V., and Ware Pet Products
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Market Synopsis of Pet Furniture Market:
There has been a significant rise in pet adoption in the recent past. Owning expensive breeds of cats and dogs has become a status symbol across the globe. Further, changing lifestyles and increasing trend of a nuclear family are leading to a rise in pet adoption in both developed and developing countries.
Asia Pacific is expected to grow with the fastest CAGR of 6.4% during the forecast period, 2019 to 2025. China, India and Australia are the leading countries in this region. China has witnessed a rapid rise in the domestic animal population as the total number of animals increased from 389 million in 2013 to 755 million, in 2017. The rise in the animal population resulted in an increase in spending on them. The country spent over USD 24 billion on pet care, in 2018.
Leading cities such as Beijing, Shanghai and Guangzhou are the prominent markets in China. Rising per capita expenditure is the prime factor boosting pet adoption. Further, countries such as Australia and New Zeeland provide lucrative opportunities for the pet furniture market. New Zealand accounted for the highest number of animal ownership per household with the number stood at 68%, in 2018.
Amid changing consumer preferences, companies are focusing on introducing furniture made up of eco-friendly materials. Pets tend to chew nearby objects. The use of natural materials for furniture manufacturing will not have any adverse effect on pet health. Leading players are focusing on the introduction of innovative organic materials to boost their sales.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Pet Furniture: Market Variables, Trends & Scope
Chapter 4 Pet Furniture: Product Estimates & Trend Analysis
Chapter 5 Pet Furniture: Application Estimates & Trend Analysis
Chapter 6 Pet Furniture: End-use Estimates & Trend Analysis
Chapter 7 Pet Furniture: Industrial End-use Estimates & Trend Analysis
Chapter 8 Pet Furniture: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Pet Furniture: Manufacturers Company Profiles
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