New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pet Care E-commerce Global Market Report 2023" - https://www.reportlinker.com/p06451007/?utm_source=GNW
A, Dover Saddlery Inc., Zoetis Inc., Doskocil Manufacturing Company Inc., Ancol Pet Products Limited, Blue Buffalo Co Ltd., Champion Petfoods LP, and Colgate-Palmolive Company.
The global pet care e-commerce market is expected to grow from $25.02 billion in 2022 to $28.08 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The pet care e-commerce market is expected to grow to $43.38 billion in 2027 at a CAGR of 11.5%.
The pet care e-commerce market includes revenues earned by entities by various categories of animals such as mammals, birds, fish, reptiles, amphibians, and minibeasts.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Pet care e-commerce is a website used to bridge the gap between pet parents and correct pet care information.Social media have been used as a tool along with the website.
Brands have created a reliable online marketplace with a D2C business model so pet parents would choose from pet care brands that best fit their pet’s needs.
North America was the largest region in the pet care e-commerce market in 2022. The regions covered in the pet care e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of pet care e-commerce are pet grooming products, pet food, medications (OTC/supplies), and other products. The animal types are canine, feline, crawler, and other animals, involve applications such as fungal infections, digestive problems, and other applications.
The rising pet adoption is expected to drive the pet care e-commerce market.Pet adoption refers to shelters and rescues full of loving, spayed or neutered, vaccinated, and trained pets who are just waiting to meet.
Pet care brands are upping their marketing game and expanding their e-commerce presence to connect with consumers. For instance, in July 2022, according to the American Society for the Prevention of Cruelty to Animals, a US-based non-profit organization, only 3.2 million of the roughly 6.5 million animals that enter shelters each year are adopted. Further, in July 2022, according to the Humane Society, an India-based animal protection organization, every year, 31% of cats and 28% of dogs are adopted from shelters. Therefore, rising pet adoption is driving the growth of the pet care e-commerce market.
Product innovations are a key trend gaining popularity in the pet care e-commerce market.Major companies operating in the pet care e-commerce markets are concentrating on creating innovative product solutions to boost their market share.
For instance, in August 2022, Chewy, a US-based company operating in pet care e-commerce, launched CarePlus, enabling millions of pet parents to access wellness and insurance plans.It is the most recent addition to Chewy’s expanding line of health and wellness products, expanding access to high-quality, reasonably priced pet healthcare.
The product’s distinguishing characteristics include 100% cost coverage for an eligible prescription drug, supplement, and veterinary diet food purchases made on Chewy.com.
In August 2020, Elanco Animal Health, a US-based pharmaceutical company, acquired Bayer AG for $6.89 billion. This acquisition of Bayer AG by Elanco Animal Health contributes to the international development, production, and marketing of veterinary goods for cattle and pets. Bayer AG is a Germany-based company operating in pet care e-commerce.
The countries covered in the pet care e-commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The pet care e-commerce market research report is one of a series of new reports that provides pet care e-commerce market statistics, including pet care e-commerce industry global market size, regional shares, competitors with a pet care e-commerce market share, detailed pet care e-commerce market segments, market trends and opportunities, and any further data you may need to thrive in the pet care e-commerce industry. This pet care e-commerce market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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