Right Now
Global Pet Furniture Market is estimated to Witness
High Growth Owing to Increasing Pet Ownership
The Global Pet Furniture Market includes multiple products
such as dog furniture, cat furniture, and other pet furniture. Pet furniture
provides pets with a comfortable place to rest, play, and sleep. The growing
popularity of nuclear families and rising pet humanization have increased pet
adoption and ownership over the years. This has amplified the demand for pet
accessories like furniture to provide pets with a comfortable living space. Pet
furniture offers several benefits such as reducing pet stress, wear and tear of
home furniture, and space for pets to spend time alone.
The Global Pet Furniture Market is
estimated to be valued at US$ 7.01 Bn in 2024 and is expected to exhibit a CAGR
of 6.2% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Global Pet Furniture are Go Pet Club, Ware Pet
Products, Inter IKEA Systems B.V. , PetPals Group , MidWest Homes for Pets,
North American Pet Products , Aosom LLC, MiaCara GmbH Co. KG , Fable Pets, Inc.
, Critter Couch Company , Furhaven Pet Products , MAA Collections,
KHManufacturing, SherpaPet, QuakerPetGroup, PurrfectPet Furniture, Ultra ModernPet,
WonderPet Furniture Manufacturing, FantasyManufacturing, and Richell USA, Inc.
The key opportunities in the Global Pet Furniture Market include growing demand
for premium and innovative pet furniture from urban households and rise in pet
humanization trend. Manufacturers are introducing new product lines with
advanced features and designs to attract more customers.
The Global Pet Furniture Market has high growth prospects in developing regions
due to increasing disposable income, growing middle-class population, and
rising pet adoption rate. Leading players are expanding their manufacturing and
distribution networks in these regions to tap into new customer bases and boost
sales.
Market Drivers
The Global
Pet Furniture Market Trend is expected to witness significant growth
due to increasing pet ownership. According to some estimates, over 67.9 million
American households own a pet, demonstrating the widespread popularity of pet
animals. With pet ownership comes the responsibility of caring and providing for
pets' needs. Pet owners realize the importance of adequate rest and comfort for
their furry companions, driving the demand for pet furniture. Growing nuclear
families also drive the need for pet furniture as apartments lack dedicated
spaces for animals. Concerns over pet safety, hygiene, and wear & tear of
home furniture further contribute to market growth. Increased awareness about
pet well-being through social media also plays a role in amplifying pet
furniture sales.
PEST Analysis
Political:
The pet furniture market is influenced by regulations regarding pet safety and
product standards. Laws ensuring pet furniture meets certain durability,
material and construction requirements help protect animal welfare.
Economic: Household spending on pet accessories tends to rise or fall with
discretionary income levels. As economic conditions improve, consumers may
spend more on non-essential pet items like pet furniture.
Social: Younger pet owners especially are more likely to treat pets like family
members and spend accordingly. An increasing number of single-person households
also invest more in pets for companionship.
Technological: Advancements in materials and construction allow pet furniture
makers to design pieces with improved strength, comfort, moisture-resistance
and other attributes. Online research and purchasing has also boosted options
available to consumers.
Geographical Regions of Concentration
North America currently accounts for the largest share of the global pet
furniture market in terms of value. The availability of a wide range of
innovative products at varying price points and a higher pet ownership rate
drive demand. Europe is another major regional market supported by growing pet
humanization trends.
Fastest Growing Region
The Asia Pacific region is expected to experience the fastest growth in the pet
furniture market during the forecast period. Rapidly rising disposable incomes,
burgeoning middle classes and increasing pet adoption especially in China,
India and other developing nations are fueling higher spends on pet care and
accessories. Evolving perceptions of pets as companions rather than working
animals also boost the appeal of pet furniture.
Get more insights
on Global Pet Furniture
Market
Explore more
insights on Lyocell
Fabric Market
For Deeper Insights, Find the Report in the
Language that You want
About Author:
Ravina Pandya,
Content Writer, has a strong foothold in the market research industry. She
specializes in writing well-researched articles from different industries,
including food and beverages, information and technology, healthcare, chemical
and materials, etc.
More Posts
Report This Post
Please complete the following requested information to flag this post and report abuse, or offensive content. Your report will be reviewed within 24 hours. We will take appropriate action as described in Findit terms of use.
