Global Pet Furniture Market Analysis with COVID-19 Recovery Plan and Strategies for the Consumer Discretionary Industry | Technavio
The pet furniture market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. Although the market has witnessed a negative impact due to the COVID-19 situation, the research analysts at Technavio expect the pet furniture market to recover and grow by USD 4.11 billion during the forecast period, accelerating at a CAGR of almost 6%.
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Pet Furniture Market Segmentation Analysis by Product
Pet house
Pet bed and sofa
Pet tree and condo
Others
The pet house segment accounted for the highest pet furniture market share in 2019. The growing demand for pet houses is mostly attributable to their aesthetic appeal. Key market competitors design modern and sleek pet houses as per customers' demands. This report provides an accurate prediction of the contribution of all the segments to the growth of the pet furniture market size.
Pet Furniture Market Regional Analysis
The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA (UAE, Saudi Arabia, Iran).
37% of the growth will originate from the North American region.
Factors such as the growing millennial population, the high number of dual-income nuclear families, and an ever-increasing trend of pet humanization will significantly drive the pet furniture market growth in this region during the forecast period.
The US is the key market for pet furniture in North America.
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Pet furniture market is expected to be driven by the availability of a wide range of fashionable and multifunctional pet furniture. Pet furniture designs have evolved significantly over the last couple of years. Market players are exploring innovative ways to combine multiple functions and styles to cater to the demands of pet lovers. For instance, they are designing furniture that fits seamlessly in homes without compromising on aesthetic value. This is resulting in the availability of a variety of pet furniture, which is driving the overall market growth.
Advent of Smart Pet Bed will be a Key Market Trend
The advent of smart pet beds is one of the major trends being witnessed in the global pet furniture market. Players in the global pet furniture market are investing a lot in research and development work to design smart pet furniture for affluent customers. These smart pet beds track pets' weight, rest and activity while providing climate control. The data collected via a mobile app provides owners with more information about their pet's health. Smart beds also offer thermostatic control that allows owners to adjust the temperature. Such features are driving their demand, thereby fueling the overall pet furniture market growth.
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Pet Furniture Market 2020-2024 : Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist pet furniture market growth during the next five years
Estimation of the pet furniture market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the pet furniture market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of pet furniture market vendors
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Pet bed and sofa - Market size and forecast 2019-2024
Pet tree and condo - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Product
Market Segmentation by End-user
Market segments
Comparison by End-user
Dogs - Market size and forecast 2019-2024
Cats - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by End-user
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Pet Furniture Market drivers
Pet Furniture Market challenges
Pet Furniture Market trends
Vendor Landscape
Overview
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Cosmic Pet
Go Pet Club
Hangzhou Tianyuan Pet Products Co. Ltd.
Inter IKEA Holding BV
MiaCara GmbH & Co. KG
MidWest Homes for Pets
North American Pet Products
PetPals Group Inc.
Prevue Pet Products
Ware Manufacturing Inc.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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