Dublin, Jan. 12, 2021 (GLOBE NEWSWIRE) -- The "Global Pet Care E-Commerce Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global pet care e-commerce market was valued at US$28.379 billion in 2019. Growing adoption of pets worldwide is the major driver of global pet care e-commerce market. Rising disposable incomes and living standards are encouraging people to own expensive breeds. As such, the expenditure on the well-being of pets is also increasing across the globe. With growing internet penetration and proliferation of smartphones, booming e-commerce industry is offering pet care product owners to sell their products online and expand their market reach. Thus, increasing internet penetration and growing tech-savvy pet owner population is also significantly driving the growth of the global pet care e-commerce market.
Furthermore, increasing number of companies offering various pet care online services is further intensifying the competition in the industry, thereby driving the global pet care e-commerce market growth. In June 2019, Rover launched in-home pet grooming service to increase their share in the pet care industry. Increase number of pet owners buying insurance policy for their pets is further boosting the market growth. In 2018, Petco announced the acquisition of the leading pet insurance marketplace- PetInsuranceQuotes.com- in order to help pet owners find the right insurance plan for their pets.
The recent COVID-19 pandemic outbreak has positively impacted the growth of the global pet care e-commerce market. Nationwide lockdowns and mandatory social distancing measures has shifted the purchasing preference of pet owners from regular offline stores to online stores. With many bricks-and-mortar pet stores closed due to the pandemic, e-commerce market players have witnessed a record growth in sales. For instance, Chewy.com reported a rise in sales by 46.2 percent to $1.62 billion and the company sold more than $1 billion through its auto-ship program for the first time. With millions of people now working from home, there has been a spike in demand for pets, especially dogs, so as to keep them company during the pandemic. The UK is facing a puppy shortage as demand for new pets has skyrocketed since the start of the lockdown with prices being surged and increase in waiting lists for new puppies.
Dogs segment holds the major market share
By pet type, the global pet care e-commerce market has been segmented as dogs, cats, and others. The pet care e-commerce market across the dog segment accounts for the largest market share throughout the forecast period. Dogs are the most preferred and popular pets owing to their loyal behaviour and emotions for humans. People are adopting dogs as pets to reduce their depression and stress. According to the Pet Food Manufacturers' Association (PFMA) 2018 report, 6.6 million households in the United Kingdom owns a dog as compared to only 5 million UK households owning cat as the pet. However, the cat segment is projected to witness a considerable compound annual growth rate during the forecast period. This is because many people are adopting cats as they are relatively low maintenance, require less veterinary care, and require less training.
Europe is the major Pet Care E-Commerce market
Geographically, the global Pet Care E-Commerce market has been segmented into the five major regional markets- North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). North America accounted for the significant share in the global pet care e-commerce market in 2019 and is projected to grow at a decent CAGR during the forecast period. Rapidly growing number of pet owners in countries like the United States and Canada is the major driver of the growth of this regional market.
The presence of well-established e-commerce industry coupled with major market players also contributes to the growth of pet care e-commerce market in this region. With increasing spending on the well-being of pets, the demand for pet care e-commerce services is growing rapidly, thus positively impacting the market growth. According to the APPA (American Pet Products Association), total U.S. pet industry expenditure is projected to reach US$99 billion by 2020 from US$90.5 billion in 2018. Asia Pacific (AAPC) is projected to showcase lucrative growth between 2019 and 2025 on account of rising number of pet owners in APAC countries with rising disposable income and living standards. Growing awareness among pet owners about good health of their pets, supported by booming e-commerce industry will continue to drive the growth of this regional market during the forecast period.
Prominent key market players in the global Pet Care E-Commerce market include PetSmart Inc., Amazon.com, Inc., Walmart Inc., Chewy, Inc., Petco Animal Supplies, Inc., PetMed Express, Inc., Groomers Delight, BarkBox, Dover Saddlery, Inc., Oliver Pet Care Solutions Pvt. Ltd., PETstock, Nestle, and TABcom LLC. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global Pet Care E-Commerce market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Pet Care E-Commerce Market Analysis, by Pet Type
6. Global Pet Care E-Commerce Market Analysis, by Product
6.2. Pet Grooming
6.3. Pet Food
7. Global Pet Care E-Commerce Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Petsmart Inc.
9.2. Amazon.Com, Inc.
9.3. Walmart Inc.
9.4. Chewy, Inc.
9.5. Petco Animal Supplies, Inc.
9.6. Petmed Express, Inc.
9.7. Groomers Delight
9.9. Dover Saddlery, Inc.
9.10. Oliver Pet Care Solutions Pvt. Ltd.
9.13. Tabcom LLC
For more information about this report visit https://www.researchandmarkets.com/r/gbug1o
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