Technavio Expects the Global Pet Accessories Market to Exceed USD 19 Billion by 2019

LONDON–(BUSINESS WIRE)–According to the latest market research study released by Technavio,
the global
pet accessories market
is expected to exceed USD 19
billion by 2020, growing at a CAGR of over 5% during the forecast period.

This research report titled ‘Global
Pet Accessories Market 2015-2019
’, provides an in-depth analysis
of the market in terms of revenue and emerging market trends. This
market research report also includes an up to date analysis and forecast
for various market segments and all geographical regions.

Request sample report: http://goo.gl/SV1SXq

The report segments the global pet accessories market by product and can
be divided into four broad categories:

  • Global pet toys market
  • Global pet housing, bedding, and feeding market
  • Global pet collars, leashes, and utility market
  • Global other pet accessories market

Global pet toys market

The global pet toys market is expected to reach USD 10 billion by 2019,
growing at a CAGR of over 7%.

The market for pet toys has garnered immense popularity among developed
as well as developing countries. Pet toys are purchased by almost all
pet owners for various reasons such as ensuring a certain level of
activity for pets.

Additionally, new product variations and greater options are being
provided to consumers which has further enabled the market to grow.
According to Brijesh Kumar Choubey, a lead research analyst at Technavio
for pet
supplies
, “There is a rising popularity of natural and organic
pet toys as they are considered to be a safer option for pets. One
example of an organic toys manufacturer is Simply Fido, which is one of
the leading organic toy manufacturer in the US.”

There is also a number of interactive pet toys being launched in the
market, which are becoming increasingly popular such as the iFetch,
which is a machine that automatically launches balls for the dog to play
with.

Global pet housing, bedding, and feeding market

The global pet housing, bedding, and feeding market is expected to cross
USD 5 billion by 2019, growing at a CAGR of over 4% , making it the
second most prominent segment in the global pet accessories market.

Housing and bedding products for pets are mainly popular in developed
regions of the Americas and Europe, where manufacturers are coming up
with new product innovations to help pet owners adopt to a much more
convenient lifestyle. For example, the Petmate Translucent Vari Kennel
is an easy-to-use portable housing option for mobile pet owners. These
kennels can be dismantled and assembled easily, providing a convenient
travel option.

Travel bags for small pets are also immensely popular in this segment.
Vendors such as Sherpapet, Petco, and Overstock.com offer a large
variety of pet travel bags for small pets.

Global pet collars, leashes, and utility market

The global pet collars, leashes, and utility market is expected to
exceed USD 3 billion by 2019, growing at a CAGR of over 4%.

Collars, being one of the most necessary items for canine and feline
pets, have undergone many product innovations over the years. One such
innovation is that of the smart pet collar, which helps locate the pet
in an instant. The Walkabout Glow Leash is another innovative product
which consists of a retractable leash made with glow in the dark molds,
which can enable owners to locate their pets in the dark.

Anti-flea and anti-tick utility collars have also become immensely
important for pet owners, as these collars prevent fleas from nesting on
the pet.

Global other pet accessories market

The global other pet accessories market is expected to reach USD 1
billion by 2019, growing at a CAGR of over 2%.

The other pet accessories segment, includes different types of pet
apparel, sunglasses, strollers, and agility devices. Pet agility devices
include tunnels, hoops, and various other training devices.

“Although this segment holds the lowest market share, it holds immense
potential if you consider the rate at which pet ownership is increasing
in the developing countries,” says Brijesh.

Technavio analysts highlight the following six vendors as the top
contributors to the global pet accessories market:

  • Ancol Pet Products Ltd.
  • Beaphar
  • Ferlast Spa
  • Rolf C Hagen Inc.
  • Rosewood Pet Products
  • Hartz Mountain Corporation

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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