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 Odor Control & Clean-up Products market.
Trusted Business Insights presents an updated and Latest Study on Pet Odor Control & Clean-up Products Market. 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 Odor Control & Clean-up Products market during the forecast period.
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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Industry Insights, Market Size, CAGR, High-Level Analysis: Pet Odor Control & Clean-up Products Market
The global pet odor control and clean-up products market size was valued at USD 7.02 billion in 2018 and is expected to expand at a CAGR of 2.94% over the forecast period. Rising demand for odor neutralizers is anticipated to drive the market. These products disinfect the homes and help maintain healthy surroundings for pets as well as the pet owners. Increasing number of pet owners is anticipated to positively influence the demand for pet odor control and clean-up products.
Innovations such as automatic litter boxes, Bluetooth enabled litter boxes, biodegradable and flushable waste bags, clean up sprays, and training pads among others are anticipated to drive the market growth over the forecast period. Availability of products such as odor and stain removers is expected to bode well for the market growth.
As per the 2017-2018 Pet Ownership and Demographics Sourcebook of the American Veterinary Medical Association (AMVA), about 57% of all U.S. households owned a pet by the end of 2016. According to the American Pet Products Association (APPA), in 2016, Americans spent USD 66 billion on pet products and services, which was more than 10% from earlier few years. Rising innovation and consumer willingness to spend more on these products is anticipated to bode well for the regional demand for pet odor control and clean-up products.
Rising consumer preference for products that completely eliminate the odor it is projected to create growth opportunities in the pet odor control and clean-up products market over the forecast period. As a result, manufacturers are focused on innovation and new product launches to develop products that not only kill germs but also remove the foul odor. Rising number of pet care service providers is anticipated to boost the sales in the forthcoming years.
Product Insights of Pet Odor Control & Clean-up Products Market
Litter box held the largest market share of about 61.53% in 2018, due to rising demand. Rising demand for automatic pet odor control and clean-up products is expected to further drive the growth of the segment. Introduction of Bluetooth-enabled litter box that can be controlled by smartphones is also expected to bode well for the segment growth.
Clean-up segment is projected to register the fastest CAGR of 4.01% from 2021 to 2026. Rising demand for clean-up products such as waste bags and accessories to dispose of the waste is expected to fuel the segment growth. Consumers prefer waste bags as they are user-friendly and cost-effective. Availability of biodegradable waste bags is projected to drive the growth of the segment.
Distribution Channel Insights
Offline distribution channel was the largest segment in the market and generated a revenue of around USD 5.59 billion in 2018. Along with selling products, most offline stores offer free pet care service demos to attract more customers. The availability of a wide range of products for different types of pets is projected to further fuel the growth of the segment.
Online distribution channel is expected to expand at the fastest CAGR of 4.19% from 2021 to 2026. Rising number of e-retail websites such as Amazon, Marshalls Petzone, Pet Shop Direct, Flipkart, and DogSpot among others offering a wide range of pet products and accessories is expected to drive the segment growth. Factors such as availability of door-to-door delivery, discounts, deals, and offers is anticipated to bode well for the segment growth.
Regional Insights of Pet Odor Control & Clean-up Products Market
North America held the largest market share of about 51.21% in 2018.According to the National Pet Owner Survey in 2016 almost 65% of Americans were pet owners. Rising spending on pet care products is anticipated to further fuel the regional product sales in near future.
Asia Pacific is expected to expand at the fastest CAGR of 5.41% over the forecast period. Rising pet ownership along with the spending on pet care products and services is anticipated to bode well for the regional growth. Moreover, rapid rise in urbanization and tourism sector in countries such as India, China, and Australia have given a rise to pet-friendly services in the region. This factor is projected to positively influence the demand for pet odor control & clean-up products. For instance, The Four Seasons hotel in Singapore offers pet-friendly rooms and separate care and services for pets.
Pet Odor Control & Clean-Up Products Market Share Insights
Key market players are. Skouts Honor Pet Supply Co., Sunny & Honey, Guangzhou Babyhouse Pet Supplies Co., Ltd, Charmypet Co., Ltd., SzeKai Co., Ltd, Double Pets International Co.,Ltd., Qingdao Huanda Biotechnology Co., Ltd., PMT Global Co.,Ltd., Pet Youyou Pet Products Limited Company, and Shanghai Mimon Pet Ltd. Various companies are adopting subscription model to retain customers for a longer period. They also focus on product innovation and development of organic pet odor control and clean-up products to cater to the rising demand. For instance, in March 2018, Skouts Honor pet specialty brand launched a new line of Probiotic Skin Care Products for pets.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pet Odor Control & Clean-up Products Market Research Report
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 2015 to 2025. For the purpose of this study, this market research report has segmented the global pet odor control and clean-up products market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Billion, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Billion, 2019 – 2030)
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