The pet cosmetics market is witnessing strong growth, expanding from $1.86 billion in 2023 to $1.99 billion in 2024, with a CAGR of 6.8%. This growth is attributed to increasing pet ownership, the humanization of pets, heightened awareness of pet hygiene and grooming, and rising disposable incomes driven by social media influence. By 2028, the market is projected to reach $2.6 billion, with a CAGR of 7%. Ongoing trends such as a demand for natural and organic products, the expansion of e-commerce platforms, and increased awareness of pet health are contributing to this growth. Major anticipated trends include premium pet cosmetics, eco-friendly products, and the integration of technology in grooming services.
Major Driver In The Pet Cosmetics Market
The marine hybrid and full electric propulsion market is poised for significant growth as maritime trade gains popularity. This sector is experiencing expansion due to rising fuel prices, modernization of ports, and improved shipping lanes. Marine hybrid and electric propulsion systems provide better fuel efficiency and lower emissions, aligning with sustainability goals within the maritime industry. UN Trade Development forecasts maritime trade to grow by 2.4% in 2023 and over 2% annually from 2024 to 2028. Valued at $1 billion in 2023, the marine hybrid and full electric propulsion market is expected to reach $1.2 billion in 2024 and $2 billion by 2028, driven by the shift towards eco-friendly technologies.
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Pet Cosmetics Market Competitive Landscape
Nestlé Purina PetCare, Mars, Elanco Animal Health Incorporated , Hill's Pet Nutrition Inc., Spectrum Brands Holdings Inc., Wahl Clipper Corporation, Burt's Bees, The Hartz Mountain Corporation, Beaphar BV, TropiClean Pet Products Inc., Cardinal Pet Care, SynergyLabs, Earthbath, Davis Manufacturing, DermaPet, Lambert Kay, Vet's Best, Petkin, John Paul Pet, Bio-Groom, Warren London, OM Botanical, Nature's Specialties, Ancol Pet Products Limited
Key Pet Cosmetics Market Trend
The pet cosmetics market is focusing on natural and sustainably sourced ingredients, such as organic shampoos, to cater to eco-conscious consumers. Organic shampoos provide gentle, effective cleaning for pets using plant-based ingredients. In July 2023, OM Botanical, a US-based company, launched a plant-based conditioning dog shampoo. This product uses natural ingredients like aloe and plantain leaf extract to cleanse and soothe pets’ coats while aligning with ethical and sustainable consumer preferences.
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Pet Cosmetics Market Segmentation
The pet cosmetics market covered in this report is segmented –
1) By Product Type: Shampoo, Conditioner, Skin Powder, Perfume, Eye Care Lotion, Moisturizing Balm
2) By Price: Low, Medium, High
3) By Pet Type: Dogs, Cats, Other Types
4) By Distribution Channel: Online, Offline
5) By End Users: Individual Pet Owners, Professional Pet Groomers
By Geography:The regions covered in the pet cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the pet cosmetics market in 2023.
The Pet Cosmetics Global Market Report 2024 furnishes information about the global pet cosmetics market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
