How is the Digital Pet Care Products and Services Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Digital Pet Care Products and Services Market Over the Coming Decade?
The market size of digital pet care products and services has seen robust growth lately. The market, valued at $96.52 billion in 2024, is anticipated to expand to $105.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.5%. Factors attributed to the historic growth of this sector include the humanization of pets, heightened consciousness about pet health, the convenience and ease of access, pet insurance and wellness initiatives, as well as a surge in pet ownership.
The size of the market for digital pet care products and services is predicted to experience a rapid expansion in the upcoming years, increasing to $162.94 billion by 2029 with a compound annual growth rate (CAGR) of 11.4%. The anticipated growth during this forecast period can be ascribed to factors such as the advent of telehealth and remote veterinary services, emphasis on mental health and well-being, implementation of subscription-based services, introduction of personalized nutrition strategies, attention on the aging pet demographic, and an increased focus on pet fitness and exercise. Noteworthy trends for the projected period include the emergence of intelligent pet products, pet care mobile applications, the use of IoT for pet tracking and monitoring, individualised pet health records, and the impact of social media on pet tendencies.
What External and Internal Drivers Are Contributing to the Growth of the digital pet care products and services Market’s Growth?
The surge in pet adoption is projected to fuel the expansion of the digital pet care items and services business. The concept of pet adoption, which involves acquiring a pet from a shelter or rescue, is stimulating the need for high-end pet care products and services to ensure their health, safety, and happiness. For example, a survey from the 2021-2022 American Pet Products Association (APPA), conducted by the human society of the United States, a non-profit organization based in the U.S., reveals that 128.451 million American households house a pet, and 69 million (54%) of American households possess a minimum of one dog. Thus, the rising rate of pet adoption is acting as a catalyst for the growth of the digital pet care goods and services industry.
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What Are the Major Players Making an Impact in the Digital Pet Care Products and Services Market’s Growth?
Major companies operating in the digital pet care products and services market are:
• Pet Plan Limited_x000D_
• Hartville Group Inc._x000D_
• PetFirst Healthcare LLC_x000D_
• Anicom Holdings Inc._x000D_
• Direct Line Insurance Group PLC_x000D_
Which Upcoming Trends Are Set to Influence the Digital Pet Care Products and Services Market’s Path Forward?
Leading corporations in the digital pet care products and services sector are increasingly incorporating AI-based solutions into their offerings. In July 2024, for example, Wiggly, a pet care firm based in the US, introduced an AI-powered pet care application. Wiggly’s distinctive feature is an advanced AI chat functionality that provides a personal AI aide specifically crafted for pet owners to any user installing the app. The virtual pet care aide can offer personalised, expert advice on a variety of matters, such as veterinary care, nutrition, behaviour, and so forth. This chat function allows users to ask pet-related questions and get immediate responses from experts.
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How Are Market Segments in the Digital Pet Care Products and Services Industry Positioned for Long-Term Growth?
The digital pet care products and services market covered in this report is segmented –
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
Subsegments:
1) By Pet Food: Dry Food, Wet Food, Treats And Snacks, Specialized Diets
2) By Pet Care Products: Grooming Products, Health And Wellness Products, Accessories, Training Products
3) By Services: Pet Sitting And Dog Walking, Veterinary Services, Grooming Services, Training And Behavior Services, Boarding Services
What Regions Are Steering Growth in the Digital Pet Care Products and Services Sector?
North America was the largest region in the digital pet care products and services market in 2024. 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.
How Can We Define the Digital Pet Care Products and Services Market and Its Key Components?
Digital pet care products and services refer to devices worn on pets to serve various purposes, such as monitoring, controlling, medical diagnosis, safety, and security. It is used to track information related to pets, such as activity, fitness, sleeping time, behavior, and steps. These devices help get data, which is tracked through a companion app installed on the pet owner’s smartphone.
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