Technological developments in the form of wearable technology have further uplifted the global pet care e-commerce market.
Pet Care E-Commerce Market
Global Pet Care E-Commerce Market: Overview
With the boom in e-commerce industry due to store shutdown and precautionary measures, nearly 60% of the urban world population are ordering online more. Simultaneously, the internet is becoming an indispensable “pet care helper”- and more so in the middle of the COVID-19 pandemic. In the meantime, technological transformation has been galvanizing non-food pet products across a multitude of categories, resulting into a remarkable growth in the demand for pet tech commodities.
Preliminary to the occurrence of the COVID-19 pandemic in March 2020, telemedicine in the form of app-based technology was already set to capture the veterinary sector. Potentialities and levels of complexity vary, but all the new contemporary platforms have smartphone applications styled to involve the pet owners more keenly in their pets’ healthcare. Altogether, the most comforting prospect has been the pandemic-induced upswing in pet fostering and adoption, equipping the global pet care e-commerce market with a new tendency of pet ownership that will assist the market for years to come.
Global Pet Care E-Commerce Market: Growth Factors
Surge in demand for high quality nutritious pet food across the globe is one of the tendencies that will elevate the global pet care e-commerce market. Growing preference toward e-commerce websites, rising annual pet care spending, and an increase in pet adoptions are the recent trends propelling the growth of global pet care e-commerce market.
Technological developments in the form of wearable technology have further uplifted the global pet care e-commerce market. For instance, growing appetite for high-tech collars that aid in tracking pet’s body temperature, heart rate, and GPS location tracking through mobile applications in real time will boost the market value of such products significantly.
On the other hand, COVID pandemic has further been promoting the adoption of e-commerce platforms. This can be accredited to national lockdown and social distancing in several nations. Nationwide lockdowns, social isolation and bounded veterinarian visits are further predicted to supply the global pet care e-commerce market with remunerative growth opportunities in the coming few years.
Global Pet Care E-Commerce Market: Segmentation
The global market for pet care e-commerce can be segmented on the basis of pet type, product, and region. The market has been bifurcated based on animal type into canine, feline, and others. By products, the market can be categorized into pet food, pet medications, and grooming products. In the forthcoming times, the canine fragment is expected to grow at a remarkable pace and hold the largest market share among others. Dogs are the most loved and preferred pets around the world due to their intelligence, ability to understand human behaviors & emotions, loyalty, and protective nature. On the basis of product, the global pet care e-commerce market will be dominated by pet food segment due to high awareness of pet nutrition and pet health. Availability of pet food on a wide spectrum, and the upsurge in the demand for superior, high quality food are major defining trends that will positively influence the global market.
Global Pet Care E-Commerce Market: Regional Analysis
The region of North America is expected to play the most pivotal role in global pet care e-commerce market. A large number of pet owners have been opting for high quality treats, toys, grooming kits including bathing products, and collars & leashes to ensure that their canine companions lead a fulfilled, happy life. With the pandemic-imposed lockdown, the number of pet adoption has risen significantly in North America. Nonprofit shelters, pet stores, dog breeders, and animal homes have all been garnering skyrocketing demand for cats and dogs during the lonely times of the COVID pandemic.
Asia Pacific is going to be the fastest developing market due to the tendencies such as surge in adoption of companion animals and increasing disposable income. The increasing rate of technological advancements in the area of pet care products has also been supporting the growth of this region. These factors have widely propelled the growth of global pet care e-commerce market in Asia Pacific. China, Japan, Australia, and India are likely to represent significant shares in the Asia Pacific market for pet care e-commerce products.
Global Pet Care E-Commerce Market: Competitive Players
Some of the key profiles in global pet care e-commerce market are Amazon, Alibaba Group, Petco Animal Supplies Inc., PetMed Express Inc., PETstock, Nestle, and Dover Saddlery.
Global Pet Care E-Commerce Market: Regional Segment Analysis
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