Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Pet Care E-commerce market.
Trusted Business Insights presents an updated and Latest Study on Pet Care E-commerce Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Pet Care E-commerce market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Pet Care E-commerce Market
The global pet care e-commerce market size was valued at USD 20.64 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 11.3% from 2021 to 2027. Technological advancements coupled with rising pet adoption are primary growth drivers for this market. For instance, mobile adaptivity allows better customer experience and single-touch purchase options. Increasing internet penetration is bolstering the smartphone using population across the world. Rising mobile adaptivity, incorporation of single touch purchase options, and user-friendly webpages have increased the popularity of e-commerce websites.
Additionally, the rising consumer spending over e-commerce platforms and the increase in internet users is fueling market growth. For instance, according to the U.S. Department of Commerce, consumers spent USD 601.75 billion online in 2019. Furthermore, 44% of the total North American population uses the internet. Promotional strategies, timely updates regarding the new products, and online deals have positively impacted the market in recent years. Moreover, there has been a significant increase in the demand for pet care products due to the shifting of pet owners from ˜pet ownership to ˜pet parenting which in turn is fueling the pet care e-commerce market growth.
COVID-19 pandemic has impacted the market in a positive way as reported by the established industry players. Shifting purchasing preference from regular brick-and-mortar system to the online stores has put this market on expedited growth platforms. As per Q1 financial performance, Walmart U.S. eCommerce sales grew by 74.0% in 2020. On the same lines, Chewy.Inc and PetMed Express, Inc. have reported incremental sales for the Q1 2020. The associated uncertainty pertinent to the pandemic end, the market is anticipated to register major gains over the forecast period 2021-2027.
Market participants are adopting innovative strategies to gain competitive edge over others. Personalized shopping, providing information pertinent to pets behavior & illness, pet education content, multichannel access, and mobile apps have become an integral part of the online websites in recent years.
Animal Type Insights
The canine segment led the market and accounted for more than 47.0% share of the global revenue in 2019. Dogs are the most preferred and popular pets around the globe as they become familiar with the behavior and emotions of their owners very easily. Also, they are loyal, intelligent, protective in nature, and helps in improving ones mental and physical health. Furthermore, dogs help in reducing depression, encourage exercise, enhance cardiovascular health, and stress. An increase in the adoption rate of pets is expected to increase the demand for pet food, grooming products, toys, and other accessories and thereby online retail market growth in the forthcoming years.
The feline segment is anticipated to expand at the fastest CAGR from 2020 to 2027. Cats are relatively low maintenance, require less training as compared to other companion animals, costs relatively less than dogs in the day-to-day, and veterinary care, along with being affectionate and self-reliant. These factors are expected to propel the segment growth over the forecast period.
Birdcage, cage liners, food and water bowl, etc. are in high demand for small animals such as birds. These products can be purchased irrespective of public holidays, weather conditions, and closing times. The websites also include product reviews making it easy for the customers to compare and choose the most suitable products. All these factors are anticipated to contribute to the market growth in near future.
Rise in the adoption of pets worldwide is one of the factors positively influencing the market growth. The convenience to choose from websites which offer a wide range of products with detailed product description is fueling the growth. Moreover, discounts on different sites and increasing consumer preference to buy a product online is expected to propel revenue growth in the forthcoming years.
Product Insights: Pet Care E-commerce Market
The pet food segment accounted for the largest revenue share of around 40.0% in 2019 owing to high awareness regarding the diverse range of pet food and their nutritional status among owners. Availability of a wide range of products, user-friendly webpages, and superior quality food has made online buying more convenient.
Increasing pet-human bond has increased the rise for pet grooming products such as shampoos and conditioners which are required for the basic hygiene of the pets. In addition, purchasing pet medicines and medicated products online has increased due to the high prevalence of diseases amongst pets. The product-wise catalog list along with discounted prices of various brands is available on the internet which has reduced the effort and the time required. These factors have added significant growth to the e-commerce market.
Regional Insights: Pet Care E-commerce Market
North America lead the market for pet care e-commerce with a revenue share of over 37.50% in 2019. The region is followed by Europe, due to the increase in the number of companion animal adoptions, well-established e-commerce industry, awareness regarding pet healthcare, and an increase in online orders.
Key contributing factors attributed towards the dominance are increasing awareness about good veterinary health and the growing number of pet owners. In addition, the increasing government animal healthcare organizations and the rising initiatives to spread awareness for pet health are boosting the market investment by the manufacturers.
Asia Pacific market is expected to showcase lucrative growth over the forecast period. Factors such as higher adoption of companion animals and increasing disposable income have promoted the market regional growth. In addition, growing awareness and increased mobile adaptivity, tech-savvy owners, and high preference for online shopping are the factors driving the market growth.
Key Companies & Market Share Insights: Pet Care E-commerce Market
The market leaders are involved in strategic collaborations, regional expansions, and new product launches to sustain the competition. Established organizations and large enterprises are leaning towards online business due to lesser spending in communication and infrastructure. For instance, in 2017, PetSmart launched acquired Chewy.com which operates as an independent subsidiary to enter into online retailing space. Furthermore, owing to the on-going crisis of COVID-19 pandemic, consumers inclination towards online shopping is increasing as the shops are closed. Major markets in countries such as the U.S, India, China, and Italy are severely affected due to the virus outbreak. Some of the prominent players in the pet care e-commerce market include:
Key companies Profiled: Pet Care E-commerce Market Report
- PETstock. BarkBox
- PetSmart Inc.
- PetMed Express, Inc.
- Petco Animal Supplies, Inc.
- TABcom LLC
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global pet care e-commerce market report on the basis of product, animal type, and region:
Animal Type Outlook (Revenue, USD Million, 2016 – 2027)
Product Outlook (Revenue, USD Million, 2016 – 2027)
- Pet Grooming Products
- Pet Food
- Medications (OTC/Supplies)
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