LONDON–(BUSINESS WIRE)–Oct 15, 2020–
Technavio has been monitoring the global pet accessories market size and it is poised to grow by USD 11.64 billion during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Pet Accessories Market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ancol Pet Products Ltd., Bob Martin Co., Ferplast Spa, Inter IKEA Systems BV, Laroy Group, Rolf C. Hagen Inc., Rosewood Pet Products Ltd., Spectrum Brands Inc., and Unicharm Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Advent of smart pet accessories has been instrumental in driving the growth of the market.
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Pet Accessories Market 2020-2024: Segmentation
Pet Accessories Market is segmented as below:
- Distribution Channel
- Geographic Landscape
- North America
- South America
Pet Accessories Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The pet accessories market report covers the following areas:
- Pet Accessories Market Size
- Pet Accessories Market Trends
- Pet Accessories Market Industry Analysis
This study identifies the technology innovation and portfolio extension as one of the prime reasons driving the Pet Accessories Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Pet Accessories Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist pet accessories market growth during the next five years
- Estimation of the pet accessories market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth