The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The pet fitness care market has witnessed substantial growth in recent years, driven by several factors that have reshaped the industry. From rising pet ownership to innovations in pet wellness, the market is set to expand even further in the coming years. Let’s explore the key trends and growth drivers shaping this dynamic industry.

Current Market Size and Growth

• Strong Growth in 2023-2024: The pet fitness care market grew from $6.42 billion in 2023 to an estimated $7.06 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 10.0%.
• Key Growth Drivers:
  • Awareness of Pet Obesity: Increased recognition of pet obesity issues has driven demand for fitness solutions.
  • Humanization of Pets: Pets are increasingly seen as family members, fueling demand for their wellness.
  • Rise of Pet Wellness Industry: The broader wellness trend has naturally extended to pets, leading to more specialized products and services.
  • Urbanization and Changing Lifestyles: As urban living spaces increase, the need for structured pet fitness becomes more pressing.
  • Pet Insurance Coverage: More comprehensive pet insurance policies now include fitness and wellness services.
  • Celebrity Influence: Celebrities advocating for pet fitness have made it a mainstream concern.

Future Market Projections

• Anticipated Growth by 2028: The market is projected to grow to $10.47 billion by 2028, with a CAGR of 10.3%.
• Emerging Trends:
  • Innovations in Pet Exercise Equipment: New technologies and products designed for pet fitness are being developed.
  • Research on Animal Behavior: Advances in understanding pet behavior are informing better fitness solutions.
  • Integration of AI and Data Analytics: AI is increasingly being used to customize fitness plans based on individual pet needs.
  • Virtual and Remote Fitness Services: The digitalization trend extends to pet fitness, with virtual training and monitoring services becoming popular.
  • Customized Nutrition and Fitness Plans: Tailored plans for pets ensure a more personalized approach to their health and fitness.

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Impact of Rising Pet Ownership on the Market

• Growing Pet Ownership: The surge in pet ownership globally is a significant factor driving the market.
  • Reasons for Increase:
    • Companionship: More people are seeking companionship, especially in urban settings.
    • Awareness of Animal Welfare: Greater focus on the ethical treatment of animals has led to more people adopting pets.
    • Health Benefits: Owning pets has been linked to numerous health benefits, encouraging more people to become pet owners.
    • Social Media Influence: Pets often star in social media, making pet ownership more desirable.
    • Better Veterinary Care: Advances in veterinary care make pet ownership more manageable and attractive.

Innovative Solutions Enhancing Market Growth

• Focus on Innovation: Companies are constantly innovating to meet the demands of modern pet owners.
  • Pet Location and Activity Trackers: These devices are increasingly popular, offering real-time tracking and fitness monitoring.
  • Example – Pawfit 3: Launched in April 2024, the Pawfit 3 is a compact GPS pet tracker that monitors both location and activity. It features 4G tracking technology, personalized fitness goals, and is waterproof, making it ideal for outdoor pets.
  • Benefits of Trackers: They offer peace of mind for owners and help in maintaining the pet’s health by tracking activity levels.

Strategic Acquisitions in the Market

• Nestlé India Acquires Purina Petcare: In July 2022, Nestlé India acquired Purina Petcare for $15.95 million, strengthening its position in India’s growing pet care market.
  • Strategic Alignment: The acquisition aligns with Nestlé’s strategy to focus on higher-margin products and explore new growth opportunities in the premium pet care segment.

Market Segmentation and Regional Insights

• Segmented Market:
  • Solutions: Products or equipment, software, and services.
  • Pet Types: Dogs, cats, and other pets.
  • Distribution Channels: Pet specialty stores, online platforms, and veterinary clinics.
• Regional Leadership: North America was the largest region in the pet fitness care market in 2023, reflecting its mature market and high pet ownership rates.

Conclusion

The pet fitness care market is poised for significant growth, driven by rising pet ownership, innovative solutions, and strategic industry moves. As more people recognize the importance of their pets’ health, the demand for fitness care products and services will continue to soar, making this a vibrant and expanding sector.

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