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18 August 2021

Global pet care industry to reach $255B

by Katie Pfaff

Industry analysts, Reportlinker.com released estimates for the worldwide pet care market, expected to achieve a value of $255.4 billion by 2027. The increase from 2020 to the 2027 valuation marks a CAGR of 5.2% growth. The US market was valued at $76.8 billion in 2020.

Within the overall market, the pet food segment is expected to reach $113.9 billion in value based on a CAGR of 4.8%. The veterinary care market segment was adjusted following COVID-19 to a CAGR of 5.1% from 2020 to 2027.

Geographically, the China market is expected to trial on a CAGR of 7% and reach $8.5 billion by 2027. Within the regional markets, the OTC and supplies segment is expected to grow at 5.4% CAGR for a combined value of $46.4 billion in 2027 from $32.2 billion in 2020 for the US, Canada, Japan, China, and Europe.

Source: https://www.globenewswire.com/news-release/2021/07/16/2264281/0/en/Global-Pet-Care-Market-to-Reach-255-4-Billion-by-2027.html

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Global pet care industry to reach $255B

by Katie Pfaff

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