WILMINGTON, DE / ACCESSWIRE / March 3, 2023 / Transparency Market Research Inc. – As per a TMR study, the pet travel accessories market was valued at US$ 5.6 Bn in 2022 and is projected to grow at a CAGR of 5.8% during the forecast period from 2023 to 2031.
Pet travel accessories are products purchased to provide safety for pets on long travel journeys. These accessories are available in low, medium, and high price categories. These are also available in different shapes and sizes such as soft-sided carriers, backpack carriers, and hard-sided carriers.
Common pet travel accessories that have witnessed significant demand are collapsible & portable carriers, tracking collars with in-built GPS facilities, and car seats with built-in heating and cooling features.
For many years, consumers have shown a preference to purchase pet travel accessories from offline distribution channels such as specialty stores, hypermarkets, and supermarkets, as they wished to personally check the product before purchase. However, growth of the e-commerce industry has induced customers to purchase pet travel accessories from online distribution channels such as e-commerce websites and company-owned websites. Rise in demand from online distribution channels is likely to augment market growth during the forecast period.
Launch of new pet travel accessories is helping prominent players to gain an edge over other players and increase revenue. In 2021, Sleeko announced the launch of new pet carrier bags that offer comfort to pets while traveling. The bags provide excellent ventilation from all sides and the top for airflow, and have soft sides for improved comfort.
Companies are signing collaborative agreements with other players to expand presence and increase revenue share.
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Key Findings of Market Study
- Increase in Adoption of Pets Worldwide: Adoption of pets as companion animals has increased at a steady pace in the past few years. Pets have helped improve mental health and also played a key role in lowering stress levels, improving confidence, and reducing blood pressure and cholesterol levels. Surge in adoption of pets has increased the demand for pet travel accessories, which in turn is accelerating market development.
- Rise in Adoption of Dogs as Pets Worldwide: Based on application, the market has been classified into dogs, cats, and others such as fish and birds. The dog segment is projected to account for dominant market share during the forecast period. Rise in popularity and surge in adoption of dogs as pets globally are likely to fuel demand for pet travel accessories in the next few years.
- Surge in Demand for Pet Travel Leash & Harness: In terms of type, the market has been divided into pet car seat, pet travel leash & harness, pet carrier harness, and others. The pet travel leash and harness segment held leading market share in 2022. Increase in need to protect pets and help owners control the animals in public places is propelling demand for pet travel accessories.
Pet Travel Accessories Market – Key Driving Factors
- Increase in trend of pet owners treating pets as part of family is driving the global pet travel accessories market
- Rise in government initiatives for pet safety is fueling demand for pet travel accessories
- Surge in consumer awareness about the risks associated with traveling with pets is anticipated to propel demand for pet travel accessories in the next few years
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Pet Travel