The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

The digital pet care products and services market has experienced significant growth in recent years, with projections indicating continued expansion. Factors such as the humanization of pets, increased awareness of pet health, and rising pet ownership contribute to this growth trajectory.

Current Market Dynamics:

• Market size: $88.34 billion in 2023, expected to reach $97.34 billion in 2024, with a CAGR of 10.2%.
• Factors driving growth:
  • Humanization of pets
  • Increased awareness of pet health
  • Convenience and accessibility
  • Pet insurance and wellness programs
  • Rising pet ownership

Future Projections and Trends:

• Forecasted growth: Expected to reach $147.16 billion in 2028, with a CAGR of 10.9%.
• Anticipated factors driving growth in the forecast period:
  • Telehealth and remote veterinary services
  • Focus on mental health and well-being
  • Subscription-based services
  • Personalized nutrition solutions
  • Focus on aging pet population
  • Emphasis on pet fitness and exercise
• Major trends:
  • Rise of smart pet products
  • Mobile apps for pet care
  • IoT in pet tracking and monitoring
  • Personalized pet health records
  • Social media influence on pet trends

Impact of Disposable Income:

• Rising disposable income fuels market growth:
  • Increased spending on pet supplies and services
  • Example: In June 2022, personal income in the US rose by $113.4 billion, driving growth in disposable personal income (DPI) by $96.5 billion (0.5%).
• Rising incomes contribute to increased investment in pet care products and services.

Key Players in the Market:

• Major companies operating in the digital pet care products and services market include:
  • Pet Plan Limited
  • Hartville Group Inc.
  • PetFirst Healthcare LLC
  • Trupanion Inc.
  • Chewy Inc.
  • PetSmart Inc.

View More On The Digital Pet Care Products and Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/digital-pet-care-products-and-services-global-market-report

Technological Advancements Driving Growth:

• Adoption of IoT-enabled technologies:
  • IoT in pet tracking devices
  • Example: Nestle Purina Australia’s Nestle Purina CHEKR, a connected smart bowl and app for pets.
• Technological innovations enhance pet care services and products, fostering market growth.

Recent Acquisitions:

• Acquisition of Capt Zack by Wiggles:
  • Strengthening of offerings and expansion into new markets and categories.
  • Increased operational effectiveness and reduced costs.
  • Enhanced ability to meet the demands of pet owners.

Market Segmentation:

• Segmented by:
  1. Type: Pet Food, Pet Care Products, Services
  2. Source: Animal-Based, Plant-Based, Synthetic
  3. Animal: Dogs, Cats, Birds, Fishes, Horses

Regional Landscape:

• North America led the digital pet care products and services market in 2023.

Conclusion:
The digital pet care products and services market is witnessing remarkable growth, fueled by factors such as increased awareness, technological advancements, and rising disposable incomes. With evolving trends and innovations, the market is poised for continued expansion, catering to the diverse needs of pet owners globally. As the industry evolves, opportunities for innovation and market penetration abound, promising a vibrant future for digital pet care products and services.

By staying attuned to consumer demands and technological advancements, stakeholders can navigate the evolving landscape of the digital pet care industry and capitalize on emerging opportunities.

Request A Sample Of The Global Digital Pet Care Products and Services Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=7985&type=smp