Pet products offer a lucrative business opportunity for e-commerce and retail companies as the market has proven its immunity in the face of financial challenges, including that from the pandemic’s economic downturn.
Market and Research Inc.’s report showed that the global pet products market was valued at more than US$223 billion in 2020 and is projected to witness a compound annual growth rate CAGR) of 5.9 percent from 2020 to 2028.
The pet care market segment is expected to reach US$358.62 billion according to Fior Markets, attributing such growth to technological advancements, the increasing humanization towards pets and urbanization, among others.
Meanwhile, the for the pet food market segment, its global market is expected to grow at a CAGR of 4.5 percent from 2019 to 2025, with the increasing consumer awareness for organic and natural products significantly impacting the global market. According to the data of Stockline, ShipHero & Attentive, the total pet sales grew to 63 percent since the COVID-19 pandemic. The top products contributing to this growth include cat and dog food, kitty litters, pads and trays, and bird food and treats. Among the key contributors to the said growth is the increasing pet adoption and ownership due to the pandemic, which is likely to persist throughout the year.
If you’re in the market for pet products and supplies, here are some of today’s highly profitable pet products that you can easily source via GlobalSources.com:
Pet food & treats
You can stock up on a wide-ranging selection of pet food and treats that are made of natural and organic ingredients at competitive prices. Dental chews, freeze-dried pet treats, jerky dog treats, dry and canned pet food, and chew hooves are some of the selections you can conveniently source online.
Pet feeders include smart and automatic feeders, bowls, travel bowls and waterers. The automatic and smart pet feeders have high-tech features such as timers, smart cameras, two-way speakers, feeding time manager and food portion control which can be controlled via an app. The pet bowls are available in various sizes and materials such as eco-friendly silicone, ceramic, plastic and stainless steel. These often come in custom colors, logos and designs to meet the varying needs of buyers. Some are offered in sets, while others are suitable for traveling and come in collapsible designs. Some suppliers also offer elevated and slow-feeding designs.
The growing trend in pet parenting has helped boost sales in pet toys and training devices. Other factors such as increasing concern towards pet care and the social-cognitive changes seen among trained pets are also driving the global market, according to Research Nester. The selection of pet toys usually consist of plush, active cat, dog chew, fetch, ropes and tug toys, toy balls and bird toys. As for pet training devices, the usual selection includes anti-bark collars that can be controlled remotely and have water-resistant feature, interactive laser toys, training clickers, ultrasonic whistles, and pet training bag sets.
Pet care products
With the pandemic still limiting personal contact and travels, do-it-yourself grooming has become more prevalent among pet owners. Pet grooming supplies such as nail clippers and trimmers, hair clippers and trimmers, shampoos, grooming scissors, dryers, baththubs, brushes, combs, dryers, grooming gloves and towels are some of the products abound the marketplace and they are offered by verified suppliers at competitive rates. Cleanup and sanitation supplies such as pet diapers, pads and toilets, cat litter, and waste bags, scoops and bag dispensers are also available.
Pet clothing & accessories
Pet humanization is projected to continue to drive sales of pet products, according to a report from Euromonitor. Owners buy luxurious outfits, shoes, collars, tags, leash and other accessories for their pets – an emerging trend called “petwear” that has made the pet clothing business profitable. Pets today are considered family members and are treated like royalty. According to Fortune Business Insights, the global pet clothing market was valued at US$5.01 billion in 2020 and is expected to grow to US$7 billion in 2028.