The global dog clothing and accessories market size is expected to reach USD 16.61 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.9% from 2021 to 2028. Increasing disposable income and rapidly growing urbanization have promoted the demand for innovative and fashionable accessories for pet owners from pet owners. In addition, vendors in this industry focus on multi-functional and fashionable product development to meet pet owners' requirements. Spending on a pet has increased as a mark of sensitivity and social status. Thus, all these factors are expected to drive the market.
Market Share Insights:
- KONG Company
- DoggyMan H.A. Co., Ltd.
- Masterpet Corporation Ltd.
- Central Garden & Pet Company
- Hangzhou Tianyuan Pet Products Co., Ltd.
- Bampz, LLC
- Mars Petcare
- PetPace
- Pet Factory Company
- Petmate Holdings Co.
The market is characterized by the presence of various well-established players and several small players. However, the industry is dominated by top international players. Industry participants are practicing several inorganic and organic growth strategic initiatives in order to expand their product/service portfolio and enhance their foothold across the market.
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Distribution Channel Insights
The offline channel captured the largest share of more than 65.0% in 2020 and is projected to register a substantial growth rate over the forecast period. Consumers feel more comfortable choosing their own products. Other factors that determine this sales channel are price reductions, shopping experience, immediate food purchase, and the availability of a wide range of products in a single store. In addition, improved services such as click and collect have fueled food sales through this channel.
The online distribution channel segment is projected to expand at the highest CAGR of 7.9% during the forecast period. The current COVID-19 pandemic is one of the significant factors driving the retail of products through the online distribution channel. The easy shopping experience, coupled with the easy payment options, is expected to drive the sale of the product through the online retail channel. Furthermore, the online distribution channel is gaining remarkable popularity among the millennials and generation Z consumers owing to the growing preference for digital shopping over brick-and-mortar stores.
Regional Insights
North America accounted for the largest share of over 30.0% in 2020, with the U.S. being the dominant shareholder across the region. The growing awareness about grooming a dog as per age, breed, weight, and physical activity is driving the dog clothing and accessories market in the region. Moreover, high disposable income and increased spending on domestic animals, such as dogs, are driving the market in North America.
The market in the Asia Pacific is projected to register the fastest CAGR of 7.9% over the forecast period, with China being the major revenue contributor to the regional market growth. Increasing disposable income, along with intense advertisement campaigns by the leading dog clothing and accessories manufacturers, has led to the growth of the market in the region. The Asia Pacific is home to over 4 billion people, making it one of the largest markets across the world. Furthermore, post the COVID-19 pandemic, the region is anticipated to witness a rise in employment, inflating disposable incomes, and enhancing standards of living. These factors will result in creating a large opportunity for the manufacturers of dog clothing and accessories. Hence, the regional market is expected to witness rapid growth in the coming years.
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