The global pet bathing supplies market is projected to have an average-paced CAGR of 6.2% during the forecast period. The current valuation of the market is US$ 8,049.8 Million in 2022. The market value of the pet bathing supplies market is anticipated to reach a high of US$ 11,915.6 Million by the year 2032. The analysts of Future Market Insights have recorded a historical CAGR of 3.0%.
FMI has analyzed that there is an unprecedented surge in demand for pet bathing supplies, owing to various internal market dynamics and some external nudges courtesy of emerging global trends like mobile grooming for pets, bathing tutorials, and more.
Furthermore, expert analysts of FMI have also revealed that the increasing pet adoption and the humanization of pets have tremendously helped in the growth of the pet bathing supplies industry. This has led to people spending a substantial amount of their income on the care and needs of their pets.
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In addition, the manufacturers are exerting a lot of effort to curate pet bathing solutions that include shampoos and conditioners to give furry friends a clean and brilliant coat, eliminating unwanted germs, harmful fleas, and ticks. Growing awareness about skin ailments, timely grooming, and cleaning companion animals further boost the expansion of the pet bathing supplies market.
The pet bathing supplies market manufacturers are offering medicated formulations in shampoos and conditioners, coupled with the incorporation of organic elements in the products. They are promoting their products on social media platforms through customer testimonials, which is anticipated to drive sales of pet bathing supplies, owing to rising disposable incomes and pet culture trends pertaining to the market.
The introduction of new products with multi-functional usage and without harmful side effects will be a key sales driver. Catering to customers in low and middle-income nations will also be a key strategy that key market players are likely to adopt.
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Key Takeaways from the Pet Bathing Supplies Market:
- North America accounted for an overall market share of 50% during the base year.
- The U.S. is estimated to record approximately 89.7 million pet owners in the forthcoming years.
- Europe is projected to account for a market share of 22% during the forecast period.
- The U.K is accounted for recording a total market share of 19.3% during 2022-2032.
- The Shampoo & Conditioners segment recorded a market share of approximately 60% in 2021.
- China is projected to advance at a CAGR of 10.3% during the estimated study period.
“The rising demand for pet grooming products can be related to an increase in pet ownership and a surge in consumer awareness regarding pet health is likely to create lucrative growth opportunities for the market players in the pet bathing supplies market.” – Says an FMI analyst.
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Competitive Landscape in the Pet Bathing Solutions Market
The pet bathing solutions market manufacturers are continually implementing several growth strategies, with mergers & acquisitions and partnerships with prominent players. e growing trend of organic products has encouraged manufacturers to introduce organic grooming shampoos and conditioners for pets.
In addition to that, the manufacturers have also developed medicated shampoos with specific formulations to treat various skin-related problems and diseases in companion animals.
Groomer’s Choice, Rosewood Pet Products, Resco, Hagen Inc., Spectrum Brand Holdings, and PetEdge are some of the key players in the market.
Recent Developments in the Pet Bathing Solutions Market
- In March 2018, BioAdaptives, Inc., a U.S.-based natural health products producer acquired Philco Animal Health Inc., which is a Canada-based veterinary product company.
- In February 2022, Pet Supplies Plus, one of North America’s largest independent pet retailers, acquired WagN’Wash, a fast-growing self-cleaning, pet food, and Bathing Supplies franchise in 15 locations.
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