The global pet furniture market is experiencing substantial growth with the rising trend of pet humanization. Pet furniture such as beds, kennels, trees and poles are becoming an essential part of pet supplies as pet parents aim to provide their companion animals with comfort, safety and leisure. Pet beds allow pets to relax and sleep in cushioned luxury while kennels and crates provide secure accommodation for pets. Trees and poles provide entertainment for active cats and dogs through simulated scratching and climbing.
The global pet furniture market is estimated to be valued at US$ 7.01 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global pet furniture are Go Pet Club, Ware Pet Products, Inter IKEA Systems B.V. , PetPals Group , MidWest Homes for Pets, North American Pet Products , Aosom LLC, MiaCara GmbH & Co. KG , Fable Pets, Inc. , Critter Couch Company , Furhaven Pet Products , MAA Collections, K&H Manufacturing, Sherpa Pet, Quaker Pet Group, Purrfect Pet Furniture, Ultra Modern Pet, Wonder Pet Furniture Manufacturing, Fantasy Manufacturing, and Richell USA, Inc
Market Drivers
One of the major drivers for the Pet Furniture Market growth of the global pet furniture market is increasing pet ownership. According to the American Pet Products Association, nearly 85 million homes in the U.S. own at least one pet. The growing humanization of pets and perceiving them as companions instead of animals has encouraged owners to provide their pets with comfortable living spaces. This has boosted the demand for high-quality, safe and attractive pet furniture in residential properties. Moreover, growing awareness about pet wellness and importance of physical and mental stimulation for pets is another key factor propelling the need for interactive pet toys and furniture.
PEST Analysis
Political: Pet furniture industry is not directly impacted by political factors except for laws regarding products. However, changes in government regulations can have indirect impact on discretionary spending on pets.
Economic: Economic growth and rising disposable incomes are boosting spending on pet care products including furniture. However, during economic slowdown, expenditure on pet furniture declines as owners cut back on non-essential spending.
Social: changing social trends like nuclear families and longer working hours are boosting pet adoption and spending. People are allocating more budget for comfort and care of pets which is driving demand for specialized furniture.
Technological: Advancements in materials allow manufacturers to design comfortable and durable products that withstand wear and tear. Online retail and e-commerce platforms are boosting access and convenience of purchase. Product reviews and recommendations online also influence buying decisions.
This market witnesses high concentration in developed regions like North America and Europe where pet ownership is higher. However, Asia Pacific region has been the fastest growing market globally backed rising incomes, western influences, and nuclear families opting for pets instead of children. Countries like China and India are emerging as major contributors to the regional growth.
In terms of value, developed markets of the United States and Europe account for more than 60% share of the global pet furniture market led by high per capita pet ownership. Japan being a strong pet care market also constitutes sizable demand. However emerging economies like China, India, Brazil, Mexico and GCC countries are displaying fastest rates of growth due to increasing pet adoption in middle class. Asia Pacific region is projected to surpass North America over forecast period to become the second largest pet furniture consuming region globally.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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