Pet Grooming Products is anticipated to have CAGR of ~5.6% over 2019-2028. There is an increase pet adoptions and humanization are propelling the industry in the forecast period. Furthermore, the rise in spending on various pet products such as the accessories, grooming, and food are anticipated to help the market flourish in the coming years. The growth in awareness about pet health which would help in boosting demand for pet grooming products would propel the industry. The growing trend of organic products, have encouraged manufacturers to introduce organic grooming shampoos and conditioners for pets would boost the industry in the coming years.
Top Driver: High rate of pet adoption to boost the industry
Pet Grooming Products is projected to grow with the surge in the rate of pet adoption and surge in animal health spending. This is anticipated to help the industry boost in the coming years. The increase in the people, who are spending more on the wellbeing of their companion animals as they view them as their family member to boost the industry. The people are now invest so as to maintain their health. This scenario has led to rise in the health and grooming expenditure for companion animal, which would significantly boost the industry.
Comb and Brush Segment to Make Crucial Contribution to Growth of Global Pet Grooming Products Market
On the basis of type the market is segmented into Comb & Brush, Shampoo & Conditioner, Shear & trimming Tools, Others. The rising demand for combs and brush for pet grooming has expected to be a primary reason to anticipate the segment growth. The second largest segment is shampoo and conditioners for pets owing to the cleanliness of the pets. On the basis of distribution channel, the market is segmented into offline and online. The offline segment held a larger market share owing to the distribution of pet grooming products in supermarkets and grocery stores.
North America is Expected to be the Largest Market
North America is anticipated to gain highest revenue growth than any other country and is anticipated to boost further in the coming years. The growing popularity of adopting pets and presence of various key players in the region is expected to drive the market in the forecast period. Asia Pacific was the fastest growing segment owing to the increasing awareness among people about pet grooming methods. Europe showed a steady growth in the market.
Players to Focus on Pet Grooming Products
The global Pet Grooming Products market leaders Spectrum Brands, Earthbath, Resco, SynergyLabs, Petco Animal Supplies, Inc., Groomer’s Choice, Himalaya Herbal Healthcare, Coastal Pet Products, Vet’s Best, 4-Legger, and World For Pets.
Spectrum Brands Holdings, Inc.: In May 2017, Spectrum Brands Holdings, Inc., a global consumer product company offering an expanding portfolio of leading brands providing superior value to consumers and customers every day, announced it had signed a definitive agreement to acquire privately owned PetMatrix, LLC, a leading and rapidly growing manufacturer and marketer of rawhide-free dog chews. PetMatrix is on pace to achieve approximately $75 million in sales in calendar year 2017. Financial terms of the accretive, all-cash transaction were not disclosed.
Manna Pro: In July 2019, Manna Pro announced it had opted to acquire Hero Pet Brands, a Dallas-based pet product and service company offering nutrition, grooming, waste pickup and cleanup solutions. Manna Pro will benefit from new customer segments and retailer relationships as a result of the acquisition, as well as enhanced research and development and expanded global influence.
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