New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pet Carriers Global Market Report 2023" - https://www.reportlinker.com/p06464025/?utm_source=GNW
, Outward Hound, K&H Manufacturing LLC, Sherpa Pet, and Quaker Pet Group Inc.
The global pet carriers market is expected to grow from $868.65 billion in 2022 to $913.98 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pet carriers market is expected to reach $1,129.19 billion in 2027 at a CAGR of 5.4%.
The pet carriers market consists of sales of hard-sided carrier and carriers with wheels.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Pet carriers are compact, movable boxes, containers, or cages used to transfer tiny pets from one location to another in a secure manner. Pet Carriers provide a sense of security while entirely protecting pets.
North America was the largest region in the pet carriers market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in pet carriers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pet carriers are soft-side bags, hard kennel, backpacks, and sling carriers.A soft-side bag is a compact porous container with extra mesh for ventilation and is constructed of resilient polyester, microfiber, or nylon.
These are used for several types of pets, including dogs, cats, and guinea pigs, and are sold through several sales channels, such as supermarkets, specialty stores, online stores, and others.
Rising pet adoption is expected to propel the pet carrier market going forward.Pet adoption refers to adopting a pet from a prior owner who abandoned it or gave it to a shelter.
It involves taking custody of and assuming responsibility for the animal.Pet carriers enable the owners to transport the pet and can be used as an indoor or outdoor dog kennel, so rising pet adoption will propel market growth.
For instance, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. Further, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog, making them the most common pet. In 2022, 48% of households had dogs, up from 40% in 2019. Therefore, the rising pet adoption rate is driving the pet carrier market.
Product innovations are a key trend gaining popularity in the pet carrier market.Major companies operating in the pet carrier market are focused on developing new technological solutions to strengthen their position in the market.
For instance, in October 2021, Delta Air Lines, a US-based provider of domestic and international travel that offers airline tickets and flights, launched CarePod, an innovative solution for pet travel.It is uniquely designed with a built-in hydration system that holds up to a liter of water and will automatically replenish the spill-proof water bowl.
It has a powerful, enterprise-level GPS tracking and monitoring system that connects to the pet’s journey directly and lets you view the pet’s key travel updates throughout its entire journey. It has stronger, industrial-strength walls that are insulated to protect the pet against potential temperature fluctuations.
In February 2022, Pet Value Holdings Ltd., a Canada-based provider of pet food and pet-related suppliers, acquired Chico Inc. for an undisclosed amount. Through this acquisition, combined resources with Chico are expected to be a strategic fit for Pet Value and provide premium-quality products. This acquisition is expected to enable Chico to strengthen and expand its coverage across Canada. Chico Inc. is a US-based provider of pet carriers and other reputable products and services for dogs, cats, and fish.
The countries covered in the pet carriers 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 carriers market research report is one of a series of new reports that provides pet carriers market statistics, including pet carriers industry global market size, regional shares, competitors with a pet carriers market share, detailed pet carriers market segments, market trends and opportunities, and any further data you may need to thrive in the pet carriers industry. This pet carriers 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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