Pet Accessories Statistics 2024 By Product Industry And Products

Introduction

Pet Accessories Statistics: Pet accessories are an essential part of modern pet ownership, providing both functional and aesthetic benefits for pets and their owners. The pet accessories market encompasses a wide range of products designed to enhance the comfort, safety, and enjoyment of pets. These products include collars, leashes, harnesses, clothing, grooming tools, toys, bedding, feeding supplies, and more.

This article will guide you effectively as it includes all current trends and analyzes taken from several insights.

Editor’s Choice

• Pet Accessories Statistics reports that in 2024, the global pet accessories market is expected to grow by USD 16.02 billion from 2023 to 2028with a compound annual growth rate (CAGR) of 6.99% during this period.
• The overall market value reached USD 29 billion in 2023 and is forecasted to reach USD 48 billion by 2032.
• North America is the largest market for pet accessories, contributing approximately 44% to the global market growth.
• The pet carrier market size will reach almost USD 704.62 million in 2024.
• By the year-end, the pet food market will reach USD 151.10 billion.
• The global pet bed market will be valued at up to USD 6.2 billion.
• Recent studies have shown that more than 50% of pet owners are willing to pay a premium for eco-friendly pet care products.
• Pet Accessories Statistics also show that Americans have demonstrated their enthusiasm for celebrating Halloween with their pets, spending a substantial amount $490 million on pet costumes.
• Pet Valu, a leading Canadian retailer, reported a revenue increase to USD 352.9 million in Q1 2024reflecting and 3.9% growth from last year.
• Morgan Stanley projects that expenditures in the pet industry will nearly triple, reaching $275 billion by 2030.
• Online sales of sustainable pet accessories are outpacing in-store sales, growing at a rate of 26.5% compared to 9.7% for physical stores.

General Pet Accessories Statistics

• Around 9% of pet owners now opt for subscription services that deliver monthly pet accessory boxes.
• Sales of pet accessories specifically for older pets increased by 12% between designed 2019 and 2020.
• In European markets, pet accessories and toys account for about 30% of the total sales in the pet product sector.
• Millennials constitute the largest segment of pet owners purchasing accessories, representing 35% of the market.
• As of now, the typical pet owner spends approximately USD 120 each year on pet accessories.
• Around 31% of pet accessory purchases are for pet comfort items like beds and cushions.
• As per Pet Accessories Statistics, Roughly 41% of dog owners opt for premium dog food.
• similarly, Sales of wearable pet technology, including GPS trackers and activity monitors, have increased by 27%.
• More than 67% of American households own at least one pet, fueling the demand for pet accessories.
• Customizable products for pets are used by 40% of pet accessory buyers.

Pet Grooming Product Industry Statistics

• The global pet grooming product market is estimated to be approximately USD 12.8 billion in 2024, a 7.5% increase from the previous year.
• The market size in the United States will secure USD 3.4 billion, representing a 6.8% growth year over year.
• The shampoos and conditioners holds segment the largest market share, valued at USD 4.2 billion globally, accounting for 32.8% of the total market.
• North America dominates the market with a share of 40%, translating to USD 5.1 billion in revenue.

Pet Toys Market Statistics

(Source: market.us)

• The pet toy market is a significant segment of the pet accessories industry, and thus, the global pet toy market was around USD 9 billion in 2023.
• The valuation will be USD 15 billion by 2032, and the market will grow at a CAGR of 6.70% from 2023 to 2032.
• Furthermore, the expected market size (in USD billion) in coming years is followed by 2024 (9), 2025 (10), 2026 (11), 2027 (11), 2028 (12), 2029 (12), 2030 (13), and 2031 (14).

By Pet Type

• Pet Accessories Statistics further states that dog toys represent the largest share of the pet toy market in 2024, and the sales of dog toys will amount to approximately USD 5.2 billion, accounting for about 65% of the total pet toy market.
• Moreover, cat toys account for a significant portion of the market share, representing about 26%.​
• Toys for other pets, including birds, small mammals (such as rabbits and hamsters), and fish, make up the remaining 9% of the market, with sales estimated at USD 0.7 billion in 2024.

Pet Food Market Statistics

(Reference: statista.com)

• The revenue in the pet food market will make up almost USD 151.10 billion in 2024, with an expected annual growth rate (CAGR) of 5.26% from 2024 to 2029,
• The market size will reach around 195.20 billion USD by 2029, and the volume will reach 60.80 billion kilograms.
• The United States will generate the highest revenue in the pet food market, amounting to USD 59,740 million in 2024.
• During the same period, the average pet food consumption per pet was 6.8 kg.

Pet Carrier Statistics

• Pet Accessories Statistics further elaborated that the pet carrier market size will reach almost USD 704.62 million in 2024 and is supposed to be USD 942.85 million by 2031.
• The annual growth rate of the market will grow at a CAGR of 4.09% in the forecasted period.
• Soft-sided pet carriers are the most popular type of pet carrier, with around 55% of the market share captured.
• Furthermore, in 2024, other pet carrier types’ market share is followed by hard kennels (25%), backpacks (10%), and other types (5%).

Pet Bed Market Statistics

• The global pet bed market will be valued at approximately USD 6.2 billion by 2024, growing at a CAGR of 5.8% from 2023, resulting in USD 4.32 billion.
• According to a report published by Future Market Insights, the pet beds market’s anticipated forecast valuation will be around USD 8.19 billion.
• As of 2024, North America holds the largest market share, amounting to a share of 40%.
• Pet Accessories Statistics also show that dog bed sales are expected to account for approximately 60% of the total pet bed market by the end of this year.

Pet Leash Market Statistics

• Pet Accessories Statistics further state that the global pet leash market was around USD 2.72 billion in 2023.
• The market, which will be worth USD 4.5 billion by 2030, will expand at a CAGR of 7.2% from 2023 to 2030.
• The global dog leash market is estimated to grow at a substantial compound annual growth rate (CAGR) of 7.00% between 2023 and 2030.
• The North American region will secure the largest market share, accounting for 40% by 2024.

Pet Accessories Market Share Statistics By Region

(Source: technavio.com)

• Pet Accessories Statistics show that the North American region holds the largest market for pet accessories, contributing approximately 44% to the global market growth by the end of 2024.
• Europe accounts for about 25% of the global market share, with countries like Germany, the United Kingdom, France, and Italy.
• The Asia Pacific region is experiencing rapid growth in the pet accessories market, contributing around 20% of the share.
• Latin America, including countries like Brazil and Mexico, holds a smaller but growing share of the market, estimated at 6%.
• The Middle East and Africa represent a smaller market share, estimated at 5% of the worldwide market.

Wearable Pet Technology Products Statistics

• The global pet wearable market, valued at USD 2.70 billion in 2023, is projected to expand at a compound annual growth rate (CAGR) of 14.3% from 2024 to 2030.
• The revenue generated by wearable pet technology products is projected to reach USD 4.6 billion by 2027.
• In 2023, the RFID segment captured the largest share of revenue in the pet wearable market, accounting for 40.03%.
• In the same period, the smart collar segment captured 61.58% of revenue in the pet wearable market.
• Meanwhile, the online segment captured around 55.60% of the revenue share.
• The highest market share, holding nearly 38.0%, was secured by the North American region.

Pet Insurance Statistics

• North America alone boasts insurance coverage for approximately 3.45 million pets.
• In the US, around 5.7 million pets were insured in 2023
• The total premium volume for pet insurance in the US reached USD 3.9 billion in 2023, marking a 17% increase from 2022.
• Pet Accessories Statistics also mentioned that the market is projected to grow significantly, with an estimated size of USD 10.76 billion by 2024.
• The average annual premium for dogs is approximately $676, which equates to about USD 56 per month. For cats, the average annual premium is USD 383, or USD 32 per month.​

Pet Accessories Statistics By eCommerce Companies

• The global pet care e-commerce market was valued at around USD 90.23 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.64%, reaching USD 149.21 billion by 2030.
• In the US, the pet care e-commerce market is expected to grow from USD 27.87 billion in 2023 to USD 31.31 billion in 2024, at a CAGR of 12.3%.
• ​North America dominated the market with a 40.21% revenue share in 2023.
• Besides, the food and treats segment held the largest revenue share, at 38.76%.

(Source: buttercms.com)

• A significant 86% of pet owners now prefer to shop online for their pet needs, showing the growing trend towards digital convenience in pet care.
• Around 60% of pet owners who purchase pet products online utilize Amazon as their preferred platform.

Sustainable Initiatives of the Pet Accessory Market

• Sustainable pet accessories have become significantly more popular, contributing to 20% of the market’s growth in recent years.
• However, items such as dog toys, collars, and leashes made from hemp are increasingly available.
• Products like poop bags made from plant-based materials decompose in 3-6 months, significantly faster than traditional plastic bags.
• A significant portion of pet owners (40%) now prefer customizable and eco-friendly products.

Conclusion

The pet accessories market is set for significant expansion in 2024, fueled by increased pet ownership, diverse and innovative product offerings, the growth of e-commerce, and a strong focus on health and sustainability. As pet owners continue to seek the best for their furry companions, the market for pet accessories will likely continue to thrive.