According to Fortune Business Insights The global pet clothing market size is expected to gain momentum by reaching USD 7.0 billion by 2028 while exhibiting a CAGR of 4.4% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Pet Clothing Market, 2021-2028.”, observes that the market stood at USD 5.01 billion in 2020.
Several companies have been running campaigns to promote and create awareness regarding innovative pet clothing present in the market. They have been actively focusing on expanding their reach and facilities that is driving the product’s demand worldwide.
For instance, in July 2020, PetSmart, the American pet store products supplier, announced the expansion of its business by launching a new store in Canada. The store offers several types of products such as animal toys, bandanas, and shirts.
The seismic effect of the pandemic, COVID-19, has been felt across several economies globally that are facing unprecedented economic loss. Owing to the lockdown announced by the government, several industries have been on a standstill with limited operational activities. However, combined efforts from the government and industries are required that is likely to bring the economy back on track post-pandemic.
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What does the Report Provide?
The global market for pet clothing report provides effective analysis on several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market in the forthcoming years. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
We have categorized the global market for pet clothing based on product type, pet type, and region. Based on the product type, the market is divided into Coats & Jackets, Sweaters & Hoodies, Shirts & Tops, and Others. On the basis of pet type, the market is segregated into dogs, cats, and others. Lastly, based on region, the market is segmented into North America, South America, Asia-Pacific, the Middle East and Africa, and Europe.
Increasing Sales through Online Medium to Augment Growth
In January 2020, Alibaba.com, a prominent Chinese online platform, reported a ten-fold rise in cat hanfu sales between December 2018 to December 2019. The rising sale through online medium and the growing presence of major companies selling their merchandise are some of the factors expected to boost the product’s demand during the forecast period. Additionally, the surging demand for pet subscription box services that consists of an extensive variety of treats, toys, and other goodies is expected to contribute to the global pet clothing market growth in the forthcoming years.
- For instance, in 2020, Coupon Follow, an online hub for an array of coupon codes and promotions, reported that over 51% of the U.S. pet owners availed subscription box-related services.
Further Report Finding:
- North America is expected to remain at the forefront and hold the highest position in the global market for pet clothing in the forthcoming years. This is attributable to the rising trend for purchasing premium quality clothing for pet animals in countries such as the U.S. in the region. North America stood at USD 1.70 billion in 2020.
- The market in Europe is expected to showcase considerable growth backed by the increasing focus on styling and grooming of pet cats in countries such as Germany and Italy that will boost the adoption of innovative pet clothing between 2021 and 2028.
- Based on the product type, the coats and jackets segment held a global pet clothing market share of about 21.62% in 2020. The segment is expected to experience considerable growth due to the wide availability of multi-colored coats and jackets preferred by consumers for their pets worldwide.
Collaboration between Prominent Companies to Expand Their Product Portfolio and Boost Sales
The market is consolidated by the presence of major companies that are striving to maintain their presence by collaborating with other companies. Moreover, other key players are focusing on adopting an organic and inorganic approach in their strategies to gain a competitive edge over their rivals that will bode well for the growth of the market in the forthcoming years.
- September 2020– Little Beast, a leading dog clothing products provider, introduced a new fashionable line of dog clothing such as hoodies, turtlenecks, and onesies. The company aims to leverage the opportunities provided by the growing demand for innovative clothing for pets.
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List of the Key Companies Profiled in the Global Market:
- L. Shareholding Company Ltd. (Oxford, U.K.)
- MEDICAL PET SHIRTS INTERNATIONAL B.V. (Bleiswijk, Netherland)
- Bitch New York (New York, U.S.)
- Moshiqa (Los Angeles, U.S.)
- Petrageous Designs (California, U.S.)
- PetRageous Designs LLC. (Burlington, U.S.)
- MILK&PEPPER (Cholet, France)
- TRIXIE Heimtierbedarf GmbH & Co. KG (Tarp, Germany)
- PETstock (South Melbourne, Australia)
- CANADA POOCH (Toronto, Canada)
- BedheadPajamas Inc. (California, U.S.)
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