According to a latest report by Fact.MR, a market research and competitive intelligence provider, on the global pet pee market, the industry is currently valued at US$ 548 Mn. Increase in pet adoption and relative growth of the pet care industry has proliferated demand for pet care products.
The growing trend in developed economies to keep pets at home has enhanced expenditure on pet care. Increasing awareness about pet care products over the past decade has strengthened market growth at a CAGR of 8.7%, encouraging manufacturers to diversify their product offerings. Manufacturers are continuously focusing on R&D; for instance, pads made from bamboo and paper to provide cost-effective products along with being decomposable and eco-friendly.
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Currently, demand for single-use pads is high, experiencing a growth of rate of 9.1% over the past five years, due to them being hygienic. But with the passage of time, reusable pads will capture significant portion of the pet pee pads market owing to affordability, washable, and rising frequency of pets travelling with owners.
Key Takeaways from Market Study
- The global pet pee pads market is expected to rise at a CAGR of 8.7% and top a market value of US$ 1.2 Bn by 2031.
- The dogs segment, under pet type, is estimated to account for 89.7% market share in 2021, but lose 62 BPS over the projection period.
- Under pad size, small pads generate higher market revenue, and had a valuation of US$ 163.6 Mn in 2020.
- Single-use pads are anticipated to create an absolute dollar opportunity of US$ 407 Mn through 2031.
- Under sales channel, offline sales channels hold dominance owing to large number of hypermarkets and pet stores, collectively accounting for over 60% market share.
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“Demand for cotton pads is high, but microfiber pads are set to gain immense popularity over the coming years,” says a Fact.MR analyst.
A lot of pet pee pads now are being made of biodegradable material with economical pricing. With the utilization of these materials, demand and sales of the product will increase due to rising pet care initiatives by governments for shelter care animals.
Moreover, manufacturers are coming up different customizations in pet pee pads, which include added attributes such as washable, leak proof, and decomposable, allowing customers a plethora of options to choose from.
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Key Segments in Cosmetic Wipes Industry Research
- Cosmetic Wet Wipes
- Cosmetic Dry Wipes
- Absorbent Cotton Cosmetic Wipes
- Non-woven Fabric Cosmetic Wipes
- Cleansing & Makeup Removal Cosmetic Wipes
- Moisturizing Cosmetic Wipes
- Exfoliating Cosmetic Wipes
- Sales of Cosmetic Wipes via Modern Trade
- Sales of Cosmetic Wipes via Specialty Stores
- Sales of Cosmetic Wipes via Medical Stores & Pharmacies
- Sales of Cosmetic Wipes via Online Retail
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