The pet furniture market size is poised to reach a valuation of US$ 5 Bn in 2022. Sales are projected to increase at a 6.2% CAGR, with the market size reaching US$ 9.2 Bn by 2032.
Rising pet adoption around the world has resulted in high demand for pet furniture. Increasing tendency of pet-parents to spend on premium and multi-functional products is expected to augment the growth in the market.
Increasing investments in research and development has led to the introduction of sustainable pet furniture products. Pet care products that provide health and comfort benefits, as well as entertainment for pets are gaining traction in the market.
In addition to this, players are launching new products at online retail channels to improve their regional presence. Consumers are preferring online retail channels across emerging economies due to lack of pet specialty stores. Increasing sales through digital platforms will propel growth in the market over the forecast period.
“Rising adoption of pet furniture across animal rescue organization, along with growing influence of pet humanization culture through social medial platforms will boost sales of pet furniture worldwide,” says an FMI analyst.
Competition Landscape
Key players in the global pet furniture market are FurHaven Pet Products, Aosom LLC, Go Pet Club LLC, PetPals Group Inc., Inter IKEA Holding B.V., MidWest Homes for Pets, North American Pet Products, Ware Pet Products, Shanghai Senful Pet Products Co. Ltd, Tuft and Paw Co., Fable Pets, Wild One Co., LayLo Pets Co., PetGear Inc., Nest Bedding Inc., Prevue Pet Products, and Pet So Good among others.
Information source:
https://www.futuremarketinsights.com/reports/pet-furniture-market
Comments (0)