Transparency Market Research
The demand within the global pet furniture market has been rising on account of the growing propensity of the masses towards petting animals. The changing dynamics of families across the world has led people to adopt more than a single pet in their houses. Furthermore, a large population of people lives alone, and this prompts them to adopt a pet. Hence, the global market for pet furniture has been expanding at a stellar pace in recent times. There have been key advancements in the domain of pet-care and pet management. This factor has also brought pet furniture under the spotlight of attention. Hence, there is little contention about the presence of an expansive industry for pet furniture in recent times.
The global pet furniture market is projected to expand at a stellar pace in the years to come. Most pet owners consider their pets as member of the family, and this leads them to provide the best environment to pets. Hence, the use of pet houses, sofas, and beds is a trend that has gathered traction in recent times. The retail sector has played a vital role in the growth of the global pet furniture market. This is because pet furniture is extensively available across retail outlets and shops.
On the basis of geography, the global pet furniture market has been segmented into North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. The market for pet furniture in North America has expanded alongside increasing adoption of pets in the region.
The demand for pet furniture is projected to increase at a rapid pace during the forecast period. Growing number of pet adoptions and the advent of smart pet bed is anticipated to boost the growth of the global pet furniture market. Additionally, growing demand for animal welfare and enforcement of strict regulations, are the key factors driving the growth of the global pet furniture market during the forecast period. Interaction between manufacturers, retailers and final consumers is expected to increase through new devices and more social media usage. Products such as dog box which bring the owner closer to their pets are expected to rise in popularity and favor more sophisticated services. The increase in internet retailing for pet care products will diversify the market and is likely to give even more space for niche players seeking an entry into the market. However, high cost of smart furniture acts as a major restraint for the growth of the market.
The global pet furniture market can be segmented based on product type, pet type, and region. In terms of product type, the market can be classified into pet sofas, pet houses, pet trees, pet beds and others. On the basis of pet types, the global pet furniture market can be categorized into dog, cats, and others. Based on region, the global pet furniture market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The pet furniture market in Asia Pacific is expanding rapidly due to the prevalence of strict regulations for pet’s safety. North America is anticipated to hold a major share of the global pet furniture market during the forecast period due to rise in health care expenditure and well-established health care facilities in the region.
Key players operating in the global pet furniture market include PetPals Group, Inc, Go Pet Club, MidWest Homes for Pets, North American Pet Products, Ware Pet Products. Global pet furniture market manufacturers are investing a lot in R&D (Research and Development) activities to design smart pet furniture for the pet lovers. The global pet furniture market is likely to grow reasonably at the end of the forecast period due to the presence of several international and regional pet furniture manufacturers that offer several various types of modern pet furniture.
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