The global smart pet care market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023–2031. The market is driven by the high demand for pet products and services.
Increasing pet adoption is projected to propel the smart pet care market. The growing number of pet-owning households is leading to a high demand for premium pet care services and products to ensure the pet’s health and safety. Furthermore, the Internet of Things (IoT) pet care products and services are gaining popularity among pet owners. Several companies are adopting IoT-enabled technology to enhance pet tracking technology. These factors are likely to have a significant impact on the growth of the market.
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In May 2021, Nestle Purina Australia launched Nestle Purina CHEKR, a smart bowl, and an app that helps pet owners feed their pets the correct food in the proper portion every time. The device connects to the cloud using AWS IoT analytics, AWS IoT core, and Apache Solr to process data and provide personalized food recommendations.
Smart pet care products are used to track and monitor things such as a pet’s location and health to ensure their safety and security. These devices help in obtaining systematic data about the pet using a corresponding software application installed in the owner’s smart devices. Moreover, the use of smart pet care products allows peace of mind and assists in maintaining the pet's health. It helps in managing the pet's eating and exercise activities and receives real-time notifications in case of an emergency.
The research report finds that the COVID-19 pandemic affected the market as the lockdowns imposed by various governments all around the world restricted the supply chains and led to a deficit in supply and demand. Besides, the demand for smart pet care products decreased due to economic uncertainty and the closure of offline stores. During the pandemic, most of the resources were diverted toward human healthcare. Now, as the situation has greatly improved, there is expected to be steady growth in the smart pet care market.
Artificial Intelligence Impact on the Smart Pet Care Market
Artificial intelligence (AI) is projected to boost the market during the forecast period. The implementation of AI in pet care greatly enhances the ability of smart devices to track fitness. The tracker device helps in keeping detailed records and monitoring all of the pet’s activities. This technology further assists in the establishment of virtual boundaries to ensure that the pet is within the reach of the owner. Moreover, the vital health records for the pet obtained from intelligence-powered solutions help veterinary doctors in starting immediate medical treatment of the pet in case of an emergency.
Smart Pet Care Market Dynamics
Major Drivers
Rising inclination among people for pet ownership is expected to drive the market during the forecast period. Rapid urbanization and nuclear family setups are major contributing factors to market growth. The idea of pet ownership and care is centuries old, which is gaining vast momentum in recent years all across the world.
The change in lifestyles, expanding consumer affluence, and modernization have been directly linked to the global rise in pet adoption. Various government initiatives and programs are promoting the adoption of pets. In addition, the increasing concern for pet care has led to better awareness of pet health and nutrition, which is likely to fuel the growth of the market.
Growing awareness about pet health, nutrition, and safety among pet owners is projected to boost the market. It is leading to the emergence of advanced products necessary for pet care, ranging from food and hygiene products to veterinary and grooming services. A vast number of families across the world are spending large amounts of money on their pets to ensure proper care and healthy life for them. Moreover, several companies are working on the development of technologically enabled smart animal care products such as smart laser cat toys, cardboard pet feeder devices, real-time locating systems, and others, which are further propelling the market. For Instance,
Existing Restraints
High cost of quality smart pet care products is likely to hamper the market during the projection period. The expensiveness of these products makes them unaffordable for low- to mid-income consumers. As a result, such customers often start opting for cheap counterfeit smart pet care products. Not only do such products cause an unfair struggle for the authorized distributors, but also they are not reliable in their functioning. Moderate pricing solves this problem as more people can buy the standard smart pet care products through authorized distributors.
Emerging Opportunities
Rising advancement in smart pet care solutions is projected to create substantial growth opportunities for the market. The implementation of the Internet of Things (IoT) in pet tracking devices enables observing the pet’s eating habits and their movement in and out of the house. Some examples of IoT-based devices include heart monitoring implants, biochip transponders for farm animals, DNA analysis devices for pathogen monitoring, and live-streaming cameras on pet collars. Such devices greatly help in providing better care for the pets, analyze and monitor the pet’s behavior, and assist the owners in making adjustments accordingly.
Scope of the Smart Pet Care Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Smart Pet Care Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Virtual Fencing, Smart Collars, Smart Feeding and Watering, Smart Litter Boxes, Smart Toys, Pet Monitoring Camera, Petkit, Ikuddle, and Others), and Animal (Dogs, Cats, Fishes, Horses, Birds, and Others), Distribution Channel (Offline and Online)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Nestle; Symrise; heristo aktiengesellschaft; Hill's Pet Nutrition, Inc.; Mars, Incorporated and its Affiliates; SCHELL & KAMPETER, INC.; Spectrum Brands, Inc.; The J.M. Smucker Company; Tiernahrung Deuerer GmbH; Unicharm Corporation; Petriage; and PetSafe (Radio Systems Corporation).
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Smart Pet Care Market Segment Insights
Product Segment Analysis
On the basis of product, the smart pet care market is divided into virtual fencing, smart collars, smart feeding and watering, bright litter boxes, smart toys, pet monitoring camera, petkit, ikuddle, and others. The smart collars segment is projected to hold the major share of the market during the projection period, owing to its versatile application for pets. These smart collars not only help the owner track their pet’s location but also protect them against potential theft. All the data is easily made available on the owner’s mobile phone application. Furthermore, these collars keep track of the pet’s medical condition, and body temperature, and help with training.
The smart feeding and watering segment is projected to register a considerable CAGR during the forecast period. The advanced system of these feeders ensures that pets are fed on a consistent schedule, which is vital for supporting their dietary needs and overall health. With their ability to dispense precise portions of food, these innovations have made it easier than ever for pet owners to manage their furry companions' diets and ensure that they receive the proper nutrition they need to thrive. In short, these automated feeding systems have contributed significantly to enhancing the quality of life for pets and their owners alike, providing a sense of security and peace of mind that is truly invaluable.
Animal Segment Analysis
Based on animal, the global market is segregated into dogs, cats, fishes, horses, birds, and others. The dogs segment is projected to register a high CAGR during the forecast period, as they are the most popular among people for petting, followed by cats. Dogs are known to be highly compassionate animals and help their owners in relieving psychological problems such as depression, health, and anxiety, thereby helping maintain cardiovascular health. As a result, people spend extensively on smart pet care products and accompaniments to ensure a comfortable environment for their dogs. For instance,
The cats segment is anticipated to expand at a significant pace in the market owing to the rapidly increasing number of cat owners across the globe. There has been a considerable rise in the sale of cat care products, especially cat litter boxes, on online platforms such as Amazon and eBay, among others. Moreover, the surge in the prevalence of bachelor and single-person households has increased the adoption of cats as pets and is expected to contribute to the growth of the segment.
Distribution Channel Segment Analysis
Based on the distribution channel, the smart pet care market is divided into offline and online. The offline segment is expected to generate a major revenue share of the market, due to its popularity and the availability of a wide variety of pet care products in one place. The offline stores include pet stores, supermarkets, and veterinary care centers. They provide ease of access and convenience of immediate possession of pet care products. The wide range allows customers to choose the product ideal for their pet’s needs.
The online segment is projected to register a considerable CAGR during the forecast period, attributed to the rising popularity of online subscription-based services for companion animal care and food products among pet owners. In addition, the affordable prices, attractive discounts, and convenience of home delivery play an important role in increasing the popularity of the online segment. For Instance,
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As per a survey conducted in 2022, the global pet care, as well as household category, is estimated to be evaluated at USD 97 billion via e-commerce. Although store-based sales are expected to maintain their dominance in the market, sales through e-commerce channels are estimated to have a considerably faster compound annual growth rate of approximately 10%.
Regional Outlook
In terms of region, the global smart pet care market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the increasing adoption of technologically advanced collars and devices. Furthermore, the rising adoption of animals for emotional support is also driving the market in this region. This is leading to a steady surge in the demand for various pet care products.
Asia Pacific is anticipated to have considerable growth during the projection period, due to the presence of several developing economies and the large population of this region. With the betterment of living standards and per capita income, people are increasingly investing in premium and technologically advanced pet care products. In addition, the rising pet ownership is further contributing to the expansion of the market in this region.
Segments
The smart pet care market has been segmented on the basis of
Product
- Virtual Fencing
- Smart Collars
- Smart Feeding and Watering
- Smart Litter Boxes
- Smart Toys
- Pet Monitoring Camera
- Petkit
- Ikuddle
- Others
Animal
- Dogs
- Cats
- Fishes
- Horses
- Birds
- Others
Distribution Channel
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Nestle
- Symrise
- heristo aktiengesellschaft
- Hill's Pet Nutrition, Inc.
- Mars, Incorporated and its Affiliates
- SCHELL & KAMPETER, INC.
- Spectrum Brands, Inc.
- The J.M. Smucker Company
- Tiernahrung Deuerer GmbH
- Unicharm Corporation
- Petriage
- PetSafe (Radio Systems Corporation)
Competitive Landscape
Key players competing in the global smart pet care market are Nestle; Symrise; heristo aktiengesellschaft; Hill's Pet Nutrition, Inc.; Mars, Incorporated and its Affiliates; SCHELL & KAMPETER, INC.; Spectrum Brands, Inc.; The J.M. Smucker Company; Tiernahrung Deuerer GmbH; Unicharm Corporation; Petriage; and PetSafe (Radio Systems Corporation).
These companies adopt several development strategies such as collaboration, partnerships, mergers, acquisitions, production expansion, and product launches to expand their consumer base worldwide. They heavily invest in the research and development of innovative smart pet care devices that enhance the life quality of pets and improve the convenience of pet owners. For instance,
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In January 2022, Petriage, one of the prominent pet care companies, collaborated with Smart Tracking Technologies, LLC’s Link Smart Pet Wearable. This step by Petriage was intended to integrate a symptom-driven AI tool that provides real-time information on a pet’s health with the brand-new Link Smart Pet Wearable gadget of the Smart Tracking Technologies as part of this partnership agreement.
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In September 2021, PetSafe, a US-based global pioneer in the field of pet care, was recently honored with two independent pet innovation awards for their products. These products were namely, Dancing Dot Laser Cat Toy and ScoopFree Smart Self-Cleaning Litter Box.
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