NEW YORK, USA, February 9, 2024 (Globe Newswire) — The production of animal furniture became widespread in the early 21st century. You'll find many common items such as pet beds, dog kennels, hammocks, dog coolers, cat trees, parrot tents, and expensive play equipment. Manufacturers in this industry also focus on creating chic and functional products that meet the needs of pet owners. The design-driven approach they take can also complement a pet owner's home décor.
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Wide selection of fashionable and multifunctional pet furniture leads the global market
According to Straits Research, “The Total Addressable Market (TAM) for pet furniture is $3.6 billion in 2021.is predicted to reach USD 6.13 billion by 2030, growing at a CAGR of 6.1% during the forecast period (2022-2030). ” A wide range of fashionable and multi-functional pet furniture is driving the pet furniture market. Market players are finding innovative ways to combine multiple features and styles to meet pet owner expectations. We create furniture that is both functional and attractive at the same time. The market growth is accelerating as a result of the wide variety of pet furniture available. Personalization gives customers more creative freedom, so they get more value from it. Many people want to minimize their impact on the environment, so they prefer pet furniture made from recycled materials and more environmentally friendly woods such as acacia, bamboo, and reclaimed wood. Products that customers can freely choose will help grow the market.
Smart pet furniture development and innovation creates enormous opportunities
In order to manufacture cutting-edge pet furniture for their customers, market participants in the global pet furniture market are making significant research and development investments. These intelligent pet beds with temperature regulation monitor your pet's activity, rest, and weight. Given the popularity of smart pet furniture and the extensive research in this field, there is scope for further progress. Working with the latest technology allows for the possibility of advancements in pet furniture while meeting the needs of pet owners. This greatly expands the options in the pet furniture industry.
regional analysis
North American pet furniture market share It is expected to grow at a CAGR of 5.6% during the forecast period. North America has the largest market share for pet furniture. Pet furniture innovations are driving the North American product market. Due to the increasing medical expenses and establishment of medical facilities, North America is projected to hold a major share in the global pet furniture industry. The demand for temperature-controlled orthopedic beds and electrically heated beds has skyrocketed due to the comfort these beds provide and the health benefits associated with them. PetPals Group, Inc., Go Pet Club, MidWest Homes for Pets, North American Pet Products, and Ware Pet Products are some of the top companies involved in the pet furniture market.
Europe is expected to grow at a CAGR of 6.4% and generate US$ 2,087.14 million during the forecast period. In Europe, all age and demographic groups value having a dog in their social lives. As a result, pet furniture is becoming increasingly popular. In this market, end users are seduced by expensive materials, eye-catching finishes, limited edition positioning, and branding. Additionally, as disposable income increases, so too does the cost of pets to ensure their comfort, strength, and health. Well-known businesses in the area include Ferranti, Suzy's Creations, Dog Sofa, Berkeley Dog Beds Limited, Petcraft, and Lulu's Pet Couture.
Main highlights
- On the basis of pet type, the global pet furniture market is segmented into dogs, cats, and others. The dog segment contributes the most to the market and is expected to grow at a CAGR of 6.6% during the forecast period.
- Based on product type, the global pet furniture market is bifurcated into residential, beds and sofas, trees and apartments. The residential segment occupied the highest market share and is expected to grow at a CAGR of 6.1% during the forecast period.
- Based on distribution channel, the global pet furniture market is divided into specialty stores, supermarkets/hypermarkets, e-commerce, etc. The specialty store segment is the largest contributor to the market and is expected to grow at a CAGR of 6.1% during the forecast period.
- North America is the largest shareholder in the global pet furniture market and is expected to grow at a CAGR of 5.6% during the forecast period.
competitive player
The major players in the global pet furniture market are: Furhaven Pet Products, Go Pet Club, Midwest Homes for Pets, Nest Bedding, North American Pet Products, Petpals Group, Inc, Prevue Pet Products, Taizhou Huamao Handicraft Article Co., Ltd, Ultra Modern Pet, and Ware Pet Products.
market news
- In October 2022, Nest Bedding recently launched natural pet beds to expand its customer base and increase market penetration.
- In November 2022, Balenciaga Objects, the Parisian house's newest division under Demna's creative direction, promised to sell a wide range of home accessories including petwear, fragrances, limited edition collectibles and custom furniture.
Global pet furniture market: Segmentation
By pet type
By product type
- housing
- bed and sofa
- tree and apartment
By distribution channel
- specialty shop
- Supermarket/Hypermarket
- e-commerce
- others
By region
- North America
- Europe
- Asia Pacific
- Ramea
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