Comprehensive Digital Pet Care Products and Services Market Analysis 2024: Size, Share, And Key Trends
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What Growth Rate Can Be Expected in the Digital Pet Care Products and Services Market from 2024 Through 2033?
The market for digital pet care products and services has enjoyed a swift expansion recently. From a worth of $88.34 billion in 2023, the market is projected to soar to $97.34 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 10.2%. The remarkable growth observed during the historic period is as a result of factors such as pet humanization, a heightened understanding of pet health, ease of access, pet insurance and wellness initiatives, and an increase in pet ownership.
The market size for digital pet care products and services is predicted to experience significant expansion in the forthcoming years. It is projected to reach $147.16 billion by 2028, growing at a compound annual growth rate (CAGR) of 10.9%. This growth during the forecast period can be linked to factors such as the increase in telehealth and remote veterinary services, emphasis on mental health and well-being, subscription-based services, customised nutrition solutions, focus on the health of elderly pets and pet fitness. Integral trends for the forecast period include the surge in smart pet products, mobile applications for pet care, internet of things for pet location tracking and supervision, customised pet health records and the influence of social media on pet trends.
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What Dynamics Are Shaping the Growth of the digital pet care products and services Market?
The surge in pet adoption is anticipated to accelerate the expansion of the digital pet care products and services market in the future. Pet adoption, which entails obtaining a pet from a rescue center or shelter, is fueling the need for premium pet care items and services in order to ensure their health, happiness, and safety. For example, the 2021-2022 survey by American Pet Products Association (APPA) conducted by the United States-based non-profit body, the human society, shows that 128.451 million U.S. homes have pets, with 69 million (54%) of these households owning at least a single dog. As a consequence, the rising rate of pet adoptions propels the digital pet care products and services market’s growth.
What Are the Essential Segments of the Digital Pet Care Products and Services Market?
1) By Type: Pet Food, Pet Care Products, Services
2) By Source: Animal-Based, Plant-Based, Synthetic
3) By Animal: Dogs, Cats, Birds, Fishes, Horses
What Are the Defining Trends in the Evolving Digital Pet Care Products and Services Market?
The increasing adoption of Internet of Things (IoT) enabled technologies is a new and popular trend in the digital pet care products and services market. Leading organisations in this arena are embracing IoT-based technology for pet tracking devices, enabling pet owners to effortlessly monitor their pets’ activity and locale. For example, Nestle Purina Australia, a respected pet care products company located in Australia, rolled out Nestle Purina CHEKR in May 202This is a smart bowl and compatible app combo for pets that supports owners to ensure each meal provides the right type of food in the correct quantity. Utilising Amazon Web Services (AWS) IoT analytics, AWS IoT core and Apache Solr, Nestle Purina CHEKR connects to the cloud to process a wide range of data points to create individualised food suggestions.
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North America was the largest region in the digital pet care products and services market in 2023. The regions covered in the digital pet care products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Digital Pet Care Products and Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the digital pet care products and services market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Digital Pet Care Products and Services Market Include
1. Digital Pet Care Products and Services Market Executive Summary
2. Digital Pet Care Products and Services Market Segments
3. Digital Pet Care Products and Services Market Size And Template Market Growth Rate
4. Key Digital Pet Care Products and Services Market Trends
5. Major Digital Pet Care Products and Services Market Drivers
……
25. Key Mergers And Acquisitions In The Digital Pet Care Products and Services Market
26. Top Digital Pet Care Products and Services Companies
27. Digital Pet Care Products and Services Market Opportunities And Strategies
28. Digital Pet Care Products and Services Market, Conclusions And Recommendations
29. Appendix
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