The Pet Grooming Industry Is Breeding Into A $358.62 Billion Market
Vanya Chandel - Founder, Forfurs
The first known instances of grooming pets came from ancient Greece. If you are not familiar with Greek mythology yet, Hades, the God of the dead and the King of the underworld, had a three-headed dog called Cerberus. Greek culture was known to popularise keeping dogs as pets. The history of pet grooming is still vague because the health and well-being of pets at the time were much more of a routine than a priority or requirement.
Today, an increasing number of people are spending lavishly on their pets because they view them as a family member rather than just a pet, prioritizing investing in their overall health. This has led to massive growth in the grooming expenditure among companion animals from a holistic wellness approach, all-natural pet care, pet grooming, retail businesses, subscriptions to personalized services. This industry shows no signs of slowing down. With pet parents growing progressively aware of their food purchases, and accessories, there has been an incline in providing pets with the best quality products.
The global market for pets grooming products is valued at USD 9.9 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2019 to 2025.
With the rise in pet adoptions and humanization, the spending force on various grooming supplies, products, accessories, treats, and foods has drastically increased. With more people being educated about pet health there has been a transition in purchasing better, sustainable, grooming products, with a growing trend of buying organic products which have created a whole other industry of shampoos, conditioners, etc. This has propelled the growth of the pet grooming & accessory market.
As per a report published by Fior Markets, the global pet care market is expected to grow from USD 225 billion in 2019 and to reach USD 358.62 billion by 2027, growing at a CAGR of 6% during the forecast period 2020-2027 while the Indian pet food market is projected to witness a CAGR of 13.5% during the forecast period (2020-2025).
According to The American Pet Products Association, almost 85 million households have a pet and over the last 30 years, pet ownership has gone from 56% to 68% of all households with the pandemic acting as an accelerator to keep individuals company while working from home.
The concept of owning pets and taking care of them is a very urban phenomenon in India. The growth of the market, therefore, is mainly dependent on the pace of urbanization. Sharing a household with a pet has been known to appear as a buffer against mental health problems particularly during the lockdown. As Gen Z's and millennials have progressed into adulthood they have accepted, embraced, and contributed to the best pet lifestyle to a far greater extent than their ancestors have, accounting for 62% of pet households, whereas Baby Boomers account for only 32% of pet households.
As the Pet grooming industry continues to evolve, adapt, and grow Forfurs and many other brands like it want to help these pet parents choose the right products for their pets. Using only the finest raw materials each product is handcrafted in our workshop by skilled artisans.