The global pet carrier market is forecast to experience a gradual increase over the next decade, with a Compound Annual Growth Rate (CAGR) of 4.1%. This projected growth will see the market value climb from US$866.1 million in 2023 to a projected high of US$1.29 billion by 2033. Industry experts at Future Market Insights anticipate that the top players in the market will hold a market share ranging from 5 to 8%. This indicates a market with a strong core but also room for innovation from emerging players. While the historical CAGR has been 3.4%, the forecast suggests a slight acceleration in growth potential. This could be attributed to factors like rising pet ownership, increasing travel with pets, and growing consumer interest in pet well-being.
The demand in the pet carrier market is driven by a need of traveling individuals to have their pets carried along with them. Occasionally, they have boxes, cages or bags that make pet animals move which is portable pet carriers. It has therefore become convenient to travelers especially to those who walk with pets to travel with their friends. These carriers convey security and tranquility, especially in cases of large pets. They aid in stress reduction during the pet moving period. As such, a great number of pet owners are choosing to use carriers that ensure that the pets travel in a secure environment but also in a comfortable setting.
In today’s world, young people from Millennials and Gen Z generation are having a growing interest in improving their appearance. The pet carriers industry is responding to this trend by introducing new ideas and using technology for something fresh. Big companies making pet carriers are working to create new things that people find good looking. People now have more money to spend, so they can buy these goods easily. So, the pet carrier business is seeing more good-looking and creative products that appeal to today’s fashionable pet owners.
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The tours and travel sector has witnessed a rapid surge, and as a result, tourists now have a strong desire to travel with their pets. This growing trend is driven by reasons such as ensuring the safety and security of their beloved companions and the strong emotional bond they share with their pets. Consequently, there has been a significant increase in demand for pet accessories in general, particularly for pet carriers. The voyage and journey become hassle-free for both the pets and the pet parents. As more pet owners seek to include their furry friends in their travel plans, the pet carriers market is experiencing substantial growth.
The advancing trend of pet humanization reflects the growing focus of pet parents on providing optimal care and comfort for their beloved companions. This heightened emphasis on pet well-being has led to an increased demand for pet carriers made from sustainable and comfortable materials, offering sturdy seats for pets while traveling. As a result, the pet carriers market has experienced significant growth.
Different types of pet carriers are now available in the market, each offering unique features to enhance the comfort of pets during transportation. For example, backpack carriers are designed as compact soft-side bags, incorporating extra mesh panels to facilitate better airflow for the pets. These carriers are typically crafted from resilient polyester or nylon materials, which are pet-friendly and durable.
Many dominant players in the market are also involved in expanding their consumer base. To do so, they are trying to get approvals from various airlines to allow consumers to carry pets in pet carriers, following the rules and regulations of the airline. This opportunity is expected to lead to a substantial expansion in the pet carriers market, resulting in lucrative growth for key players. Moreover, the ease of shopping from e-commerce websites is expected to chime in with the growth aspects of the pet carriers market during the forecast period.
Key Takeaways
- Sales via online distribution channels are expected to soar in the India pet carriers industry, subsequently boosting the growth of the pet carriers market in the projected period, 2023 to 2033.
- The reliance of consumers on pets in the regions of Canada and the United States for companionship and emotional security is surging. As a result, these regions accounted for a significant market value in 2022.
- Manufacturers in the German pet carriers industry seized the opportunity presented by the market conditions and introduced high-quality products. This move has assisted the manufacturers in the region in expanding their consumer base.
Market Competition
The prominent market players, both established and emerging, are adopting growth strategies such as acquisitions, mergers, and collaborations. These companies are bent on bringing new ideas and innovations to increase their consumer base. They are working towards launching attractive and comfortable carriers in the market.
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Recent Developments
- Ferplast deals in an extended range of pet carriers that includes Multipla Hamster Crystal, a multi-story cage for hamsters and mice. Superior, a folding dog crate, Multipla Roof Extension, a roof extension modular cage for small pets, and more.
- MidWest Homes for Pets is involved in the production of a varied range of pet carriers, and the 2023 product range includes Canine Camper Sportable Tent Crate, Cat Playpen, Contour Dog Crate, Critter Nation, Day Tripper Pet Backpack, Duffy Expandable Pet Carrier and so on.
Some of the key players proliferating in the market are:
- PAWS AND PALS, INC.
- MidWest Homes for Pets
- Ferplast S.p.A.
- EliteField LLC.
- Pet-Tom.
- Pet Gear Inc.
- Coastal Pet
- Pet Life
- Worldwise, Inc.
- Doskocil Manufacturing Company, Inc.
Key Segments in the Pet Carriers Market:
By Product Type:
- Purse carriers
- Sling carrier
- Hard Kennel
- Other Product types
By Material Type:
- Polyester
- Nylon
- Fur
- Others (Plastic)
By Pet Type:
- Dogs
- Cats
- Others
By Sales Channel:
- Supermarkets
- Specialty Stores
- Online stores
- Other stores
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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