Transparency Market Research
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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