Pet Care Market Remains Afloat amid COVID-19 Pandemic, to Surge Positively, Projects FMI 2022 2031

 The global pet care market is set to enjoy a valuation of US$ 199 Bn in 2022, and further expand at a high CAGR of 6.1% to reach US$ 338.5 Bn by the year 2031.

  • Pet food is expected to hold a noteworthy revenue share of over 65% of all product sales. The growth is attributed to the demand for premium, natural, and organic ingredients.
  • Pet care for dogs is expected to contribute revenue share of 35.1% in 2021. The role of dogs as companions and the resulting humanization drives associated sales.
  • The U.S. leads the North America market accounting for 90% value share by 2031 owing to higher purchasing power.
  • The U.K. accounts for more than 25% of the Europe market with concerns over pet health and investments into product innovation.
  • China and South Korea are considered high growth markets for pet care in East Asia, reflecting a CAGR of over 14% with the penetration of key players with premium products.

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