Pet Coat Market Scope
The rise in the concept of pet parenting and the increase in disposable income of pet owners are the major factors that drive the growth of the market. Having a pet nowadays has become a status symbol and spending on these products is no longer restricted to food and grooming services, it also includes innovative and specialized premium products because people do consider pets as a part of the family. The development of the e-commerce industry significantly boosts the sale of the coat.
Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make up-gradations in the product. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Pet Coat market throughout the predicted period.
Hurtta (Finland), Weatherbeeta (United States), Ruffwear (United States), Canine Styles (United States), Mungo & Maud (United Kingdom), LAZYBONEZZ (United States), RC Pet Products (Canada), R2P Pet Ltd. (United States), Muttluks (Canada), Walkabout Harnesses (United States), Kurgo (United States), Freely Pet, LLC (United States) and Ivory Coat (Real Pet Food Company) (Australia) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Pet Coat market by Type (Wool, Waterproof Leather and Other), by Application (Dogs, Cats and Other) and Region with country level break-up.
On the basis of geography, the market of Pet Coat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In August 2020, Ivory Coat Companion Goods joins Real Pet Food Company Ivory Coat has established itself as a premium supplier within the pet specialty and veterinary channels, having developed a solid and loyal customer base with its high-quality grain-free dog and cat foods and all-natural grooming products. Fortuitously, Real Pet Food Company’s acquisition of Consolidated Manufacturing Enterprises (CME) earlier this year from where the Ivory Coat range is manufactured, saw synergies and a strong pre-existing relationship between the parties emerge.
On 10th December 2020, Freely Pet, LLC, a brand of limited-ingredient pet nutrition products founded earlier this year, announced an exclusive partnership with Best Friends Pet Hotels to be its new in-house food beginning Oct. The facilities will also sell Freely’s functional broths for dogs and cats in its lobby and through the curbside pickup, which include its Tranquility Blend, Gut Health Blend, and Skin & Coat Blend for dogs, and its Tranquility Blend for cats.
Animal care agencies such as PETA (People for the Ethical Treatment of Animals) and Pet Industry Federation (PIF) make the regulatory guideline to ensure pet safety and well-being. The PIF regulatory body mandates that dog groomers must be licensed and well trained.
Market Trend
- Growing Awareness about Pet Well-being in Emerging Economies
- The Dominance of Online Sales Channels Offering Pet Care Products
Market Drivers
- Rising Adoption of Pets and Growing Demand for Their Premium Care Products
- Increasing Disposal Income Coupled With Considering Pet as a Family Member World Widely
Opportunities
- Changing Perception towards Pet Hygiene and Care
- Growth in Pet Products and Service Industry
Restraints
- High Cost of Premium Pet Products
Challenges
- Widespread Presence of Counterfeit Products
Key Target Audience
Pet Brush Manufacturers, Suppliers of Pet Brush, Raw Material Supplier, Research and Development (R&D) Companies, New Entrants/Investors, Analysts and Strategic Business Planners, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations