The U.S. market for pet care products and services totaled nearly $56.4 billion in 2014. This market is projected to approach $61.4 billion in 2015 and $69.4 billion by 2020, registering a compound annual growth rate (CAGR) of 2.5% through 2020.
This report provides:
An overview of the global pet industry, specifically pet food, accessories, health products, and services.
Analyses of global market trends, with data from 2014, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020.
A look at key export markets for the U.S. pet industry.
Analysis of the market’s dynamics, specifically growth drivers, inhibitors, and opportunities.
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Evaluation of increasing international markets and their impact on U.S. manufacturers and retailers.
Profiles of major players in the industry.
Introduction
Reasons for this study and its Importance
The pet industry is a major segment of the U.S. economy. In 2014, American pet owners spent more than $56 billion on their small companions, a figure that is expected to approach $70 billion by 2020. Since BCC Research published its last report on the pet industry in 2010, continued growth in all segments has provided an opportunity for both existing players and new entrants. A growing number of players, as well as consolidation among manufacturers, retailers, and service providers, and globalization of the American economy have transformed the maturing pet industry into a dynamic, highly competitive environment. This BCC Research report analyzes these new developments and their potential impact on the future of the pet industry.
Objectives of this study and its contribution
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The objective of this research is to provide a comprehensive analysis of all segments of the pet industry in the U.S. and to forecast future trends. The study analyzes developments in all animal segments, including dog, cat, bird, fish, small mammal, and reptile products. Due to the increasing importance of international markets for U.S. manufacturers and retailers, the report includes an analysis of global trends, with an overview of key export markets for U.S. pet products.
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SOURCE: Bharat Book Bureau
