Pet Clothing Market Competitive Landscape Analysis, Segmentation, Report, Global, Future Demand, Sales, Price, Revenue, Analysis, Share, Growth Rate and Forecasts by 2028
The global pet clothing market size is expected to showcase considerable growth by reaching USD 7.0 billion by 2028. Fortune Business Insights published this information in its latest report, titled, “Pet Clothing Market, 2021-2028.” The report further mentions that the market stood at USD 5.01 billion in 2020 and is projected to exhibit a CAGR of 4.4% between 2021 and 2028. Factors such as the growing preference for sustainable clothing and the increasing focus on the introduction of innovative pet clothing is expected to favor the market growth during the forecast period.
COVID-19 Impact: Market to Hit USD 5.17 Billion in 2021
The COVID-19 pandemic has led to the shutdown of several garment stores globally. Moreover, lockdown measures have been announced to contain the spread of the disease globally. However, the market is expected to reach USD 5.17 billion in 2021 due to the increasing sales of pet-based apparels and accessories through online platforms. For instance, in April 2020, Chewy, a U.S. retailer of pet apparel supplies, reported a spike of 46.2% in its online sales that accounted to over USD 1.6 billion in the first quarter of 2020.
We have segmented the global market for pet clothing based on product type, pet type, and region.
On the basis of product type, the market is segregated into Coats & Jackets, Sweaters & Hoodies, Shirts & Tops, and Others.
- Based on product type, the coats and jackets segment held a market share of about 22.65% in 2020 and is anticipated to experience exponential growth between 2021 and 2028. This is attributable to increasing preference for different colored coats and jackets by consumers across the globe.
On the basis of pet type, the market is categorized into dogs, cats, and others. Lastly, based on region, the market is divided into North America, South America, Asia-Pacific, the Middle East and Africa, and Europe.
What does the Report Provide?
Theglobal market for pet clothing report provides qualitative and quantitative analysis of several factors such as the key drivers and restraints that will affect the growth. Furthermore, the report provides insights into the regional segment that covers different regions, which are contributing to the growth of the market. It also includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth during the forecast period. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2021 and 2028.
Growing Preference for Sustainable Clothing to Propel Market Growth
The increasing concern related to the disposal of plastic is propelling the demand for plant-based fabric such as hemp, cotton, and other. Fashionable clothing may often result in the growing discomfort for pets such as Labradors and Golden Retrievers due to tight fitting or skin allergies. Therefore, the manufacturers are focusing on developing sustainable clothing that will protect the pets from harsh climate and other external factors. Therefore, the high demand for sustainable fabric is expected to bode well for the global pet clothing market growth during the forecast period. For instance, in November 2020,K9 Wear, a dog apparel manufacturer, announced the launch ofpatented, highly comfortable harnesses and garments for pet dogs. The products are available across several stores globally.
North America – The region stood at USD 1.70 billion in 2020 and is expected to hold the largest global pet clothing market share in the forthcoming years. This is ascribable to factors such as the increasing spending capacity of the pet owners in the region. For instance, as per the data by the American Pet Products Association, the overall spending on pet supplies and medicinal products stood at USD 19.2 billion in 2019 compared to USD 16.1 billion in 2018.
Asia-Pacific – The market in the region is expected to showcase exponential growth backed by the growing number of middle-class population who own pets in countries such as Australia and India.
Europe – The region is expected to experience considerable growth during the forecast period. This is attributable to the presence of a high number of pets in countries such as the UK, Germany, and Netherland that is likely to boost the adoption of innovative pet clothing in the region.
Product Launch by Prominent Companies to Intensify Industry Competition
The global market for pet clothing is fragmented by the presence of major companies striving to maintain their dominance by developing innovative clothing products to cater to the growing consumer demand globally. In addition to this, other key players are adopting strategies such as collaboration, partnership, and merger and acquisition that will contribute to the growth of the market in the forthcoming years.
- September 2020 – Dsquared2, an Italian apparel brand, announced its partnership with Poldo Dog Couture, an apparel retailer. Together, the companies introduced an entire line of fashionable dog clothing across stores in Italy.
List of the Key Companies Profiled in the Global Market:
- L. Shareholding Company Ltd. (Oxford, U.K.)
- MEDICAL PET SHIRTS INTERNATIONAL B.V. (Bleiswijk, Netherland)
- Bitch New York (New York, U.S.)
- Moshiqa (Los Angeles, U.S.)
- Petrageous Designs (California, U.S.)
- Pet Rageous Designs LLC. (Burlington, U.S.)
- MILK&PEPPER (Cholet, France)
- TRIXIE Heimtierbedarf GmbH & Co. KG (Tarp, Germany)
- PETstock (South Melbourne, Australia)
- CANADA POOCH (Toronto, Canada)
- BedheadPajamas Inc. (California, U.S.)
- November 2019 – Moncler Spa, a French sports wearable manufacturer, announced its collaboration with the Italy-based clothing store, Poldo dog Couture. The collaboration is aimed atintroducing innovative pint-sized collections of dog outfits such as gilets,raincoats, and vests.
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