About Pet Memorials
Pet Memorials are demonstrating a great comfort to the people of all ages, and from all backgrounds, who have lost a beloved pet. According to a survey it is seen that currently, 76% of 18-24 year-olds in America share their home with a pet. And around 65% of all American households have a dog or cat. The pet memorials market is growing due to their varieties of segmentation in terms of products such as URNS, keepsakes, Jewellery, and many more things. Various countries such as United States, Europe, and Japan, which consume more pet products in the world are steadily increasing the market at a specific growth rate.Furthermore, developing countries like China and India are also contributing a significant upsurge in this market. For instance, China has a low birth rate and a growing number of middle-class adults are choosing to spend money their pets. Hence increasing population that adopts pets as their own child coupled with the rising interest of owners towards having their pets proper crimination is driving the market in forecasted years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The pet memorial market is doing a steady growth in the market because of its key players, providing innovative techniques and methods to the consumers, in order to provide them a peaceful grief Ceremony of their beloved pet ones. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Pet Memorials market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
At Peace Memorials (United States), Kay Berry (United States), Funeral Products B.V (The Netherlands), Milano Monuments (United States), Stardust Memorials (United States), CREMONA (Europe), Matthews Cremation Division (United Kingdom), Bogati Urn Company (United States), Final Gift Pet Memorial Center (United States) and Perfect Memorials (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Northampton Memorial Company (United Kingdom), Modlich Monument Company (United States) and Morris Animal Foundation (Denver).
Segmentation Overview
AMA Research has segmented the market of Global Pet Memorials market by Type (Pet Cremation Jewellery (Bracelet, Pendants, and Others), Pet Urns, Pet Casket and Others), Application (Cat Memorials, Dog Memorials, Bird Memorials and Other pets) and Region.
On the basis of geography, the market of Pet Memorials 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). If we see Market by Urns Materials, the sub-segment i.e. Alloy will boost the Pet Memorials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services Type, the sub-segment i.e. Cremation Program will boost the Pet Memorials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Urns Size, the sub-segment i.e. Small will boost the Pet Memorials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growth in Pet Owning and Pet Loving Lifestyle among Millennials and Growing Affirmation of Grief as a Natural Reaction to Loss
Market Growth Drivers:
An Increasing Number of Pets Globally Coupled with Their Short Life Span due to Diseases and Rising Concern and Spiritual Connection towards the Pets after their Death by Owners
Challenges:
Lack of Knowledge About these Market in Developing Economies and Availability of Other Services or Rituals Present in Market or Done by Owners Itself
Restraints:
High Cost, of these Products and Services and Concern Related Towards Healthy Living of Pets by the Consumers
Opportunities:
Rising Numbers of Population that are Pet Lovers across the Globe and Growing Tendency of People Towards Performing the Last Rituals for their Pets
Market Leaders and their expansionary development strategies
In February 2022, Morris Animal Foundation launch inline community y – Furever Memorials . This is where individuals and families can remember and celebrate their loyal and trusted companions. This launch helped company to expand its presence in Pet Memorials market
Patch & Purr Pet Cremations has launched its product called Illawarra. this product is an implementation of innovative tracking technology by which owners can easily discover through their vet where their pet is throughout their journey.
Key Target Audience
Pet Memorials Manufactures, Pet Memorials Distributors, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.