The global pet clothing industry was valued at USD 5.01 billion in 2020 and is projected to grow from USD 5.17 billion in 2021 to USD 7.0 billion in 2028 at a CAGR of 4.4% during the 2023-2028 period. Fortune Business Insights published this information in its latest report, titled, “Pet Clothing Industry, 2023-2028.” 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.
List of Key Players Profiled in the Pet Clothing Market Report:
- 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.)
- 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.)
What does the Report Provide?
The global 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.
DRIVING FACTORS
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 of patented, highly comfortable harnesses and garments for pet dogs. The products are available across several stores globally.
Factors Affecting the Growth of the Pet Clothing Market:
- Humanization of Pets: Pets are increasingly considered as part of the family, and pet owners are willing to spend more on their pets' well-being and appearance. Treating pets as companions has led to a growing demand for pet clothing as a way to express their personality and enhance their overall image.
- Social Media Influence: The rise of social media platforms has played a vital role in popularizing pet fashion. Pet owners often share adorable pictures of their pets dressed in fashionable outfits, leading to a trend among pet enthusiasts. The viral nature of these posts and the desire to participate in pet fashion trends have driven the demand for pet clothing.
- Increasing Disposable Income: As disposable income levels rise, pet owners have more financial resources to spend on luxury items, including pet clothing. The willingness to splurge on fashionable clothing for pets has contributed to the growth of the market, as owners seek to provide their pets with the best quality and latest fashion trends.
- Changing Weather Patterns: Climate variations and extreme weather conditions have led to an increased demand for protective clothing for pets. Pet owners are now more conscious of their pets' comfort and safety, especially during cold winters or hot summers. This has resulted in a rise in the demand for functional clothing such as sweaters, coats, raincoats, and boots.
- Availability of a Wide Range of Products: The pet clothing market offers a diverse range of products, including costumes, accessories, formal wear, sportswear, and seasonal outfits. This wide selection appeals to pet owners with different preferences and provides options for various occasions, resulting in increased sales and market growth.
- Retail Expansion and Online Shopping: The accessibility and convenience of online shopping have significantly contributed to the growth of the pet clothing market. E-commerce platforms and pet specialty retailers offer a wide range of pet clothing options, making it easier for pet owners to find and purchase fashionable outfits for their pets.
- Celebrity Endorsements and Influencer Marketing: Celebrities and social media influencers often showcase their pets in stylish outfits, creating trends and influencing consumer behavior. Their endorsements and recommendations have a significant impact on pet owners, who seek to emulate their favorite celebrities or influencers by dressing their pets in similar fashion.
MARKET SEGMENTATION:
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.
REGIONAL INSIGHTS
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.
COMPETITIVE LANDSCAPE
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.
Industry Development:
- 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.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/pet-clothing-market-104419
