According to the research report published by FMI, the demand for Pet-calming Products Market is rising tremendously in passing years. In 2018, the global market size stood at nearly US$ 12.38 billion. In the following years, from 2018 to 2022, the market witnessed significant growth, accounting for US$ 15.51 billion in 2022.
The global pet calming products market is projected to surpass a valuation of US$ 16.41 billion in 2023. It is likely to be worth US$ 28.83 billion by 2033. The market is predicted to capture a CAGR of 5.8% from 2023 to 2033. The increasing availability of pet calming products online due to expanding e-commerce industry is likely to amplify the market’s growth potential.
The increasing pet ownership across the globe is boosting the adoption of smaller pets such as fish, hamsters, dogs, and cats. Pets can suffer from stress, anxiety, aggression, and other behavioural issues like humans. The increasing awareness of pet mental health is boosting the demand for pet calming products.
Pet calming products such as pheromone sprays, treats, supplements, and others are becoming more widely available. The rising social media platforms and online communities focused on pet care contribute to the market’s development.
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The ever-increasing global population and urbanization are forcing people to reside in smaller settings. This is increasing the awareness of pets’ behaviour among their owners, which is creating a demand for pet calming products. Millennials and Gen Z populations are contributing incredibly to the rising pet ownership, which in return is increasing the growth prospects for the pet-calming products market.
The market’s expansion is projected to be supported by the rising demand for products containing CBD (Cannabidiol). Pet CBD products have grown in popularity over the past few years. Animals and humans have both been shown to experience calming benefits from CBD. They are available in several different forms, including snacks, chews, and oils. The demand for CBD-based products is projected to increase as a result of the growing research on the benefits of CBD-based goods.
Key Takeaways from Pet-calming Products Market:
- In 2018, the global market size stood at nearly US$ 12.38 billion.
- In 2022, the market exhibited substantial growth, accounting for US$ 15.51 billion in 2022.
- The dog segment is anticipated to garner prominent shares in the global market.
- The snacks and treats segment is projected to generate monumental revenues and is likely to expand at a CAGR of 39% from 2023 to 2033.
- The online distribution segment is anticipated to hold dominant shares in the global market.
- North America is slated to witness astonishing growth due to huge pet ownership rates.
Key Players in the Market
Nestle Purina Petcare, Virbac, NOW Foods, Zoetis Inc., PetHonesty, Zesty Paws, THUNDERWORKS, PetlQ LLC, Ceva Animal Health (Adaptil), Garmon Corp. (NaturVet)
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Market Segmentation
Pet-calming Products Market by Pet Type:
- Dogs
- Cats
- Others
Pet-calming Products Market by Product:
- Food & Supplements
- Snacks & Treats
- Gel & Ointment
- Spray & Mist
- Others
Pet-calming Products Market by Distribution Channel:
- Online
- Offline
Pet-calming Products Market by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Recent Developments Observed by FMI:
- In March 2023, Virbac announced an expansion of its production facility to cater to the increasing pet population. The firm plans to invest nearly US$ 42 million in opening a new factory in Saint-Gilles, Belgium.
- In February 2023, Comfort Zone began selling its products in the United Kingdom. It has become the first business to provide a calming solution in the United Kingdom with the introduction of a drug-free Pheromone Collar.
- In March 2022, Ceva Animal Health (Adaptil) introduced Adaptil Chew, extending its veterinary behavior spectrum. The brand-new product is a chew that calms dogs down quickly.
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