The global pet furniture market is set for substantial growth, expected to reach USD 10.65 billion by 2031 from USD 7.01 billion in 2024, according to Coherent Market Insights.
The pet furniture market is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. This growth is driven by increasing pet humanisation and the trend of treating pets as family members. Pet furniture not only provides comfort and security for pets but also serves as stylish home décor.
Market Dynamics and Trends
The rise of nuclear families and the growing perception of pets as companions are primary factors driving the market. According to the 2021 US Pet Owners Survey by the American Pet Products Association (APPA), approximately 90.5 million households in the United States owned a pet. The increasing discretionary spending on pets and growing awareness of pet well-being are also significant contributors to market growth.
The surge in e-commerce has significantly impacted pet furniture sales. Major companies now offer their products through various online channels, including company websites and platforms like Amazon. This has made pet furniture more accessible to consumers, regardless of their location.
Additionally, the trend of pet humanisation has led to a demand for luxury and multifunctional pet furniture. Manufacturers are responding with new product launches that cater to these needs. Items such as cat trees and dog beds are now designed with multiple platforms, condos, and scratching posts. This trend is expected to continue over the forecast period.
Market Opportunities
The pet beds and sofas segment is projected to hold the largest market share over the forecast period. There is a rising awareness among pet owners about the importance of providing proper resting areas for their pets. This has driven the demand for specialised pet beds and sofas made from materials such as orthopedic memory foam, thermal materials, and cotton/faux fur fabrics.
Activity-based furniture items like pet houses, trees, and condos are also gaining popularity. These items keep pets engaged and provide them with a sense of security. Companies are also introducing luxurious, multi-level units made from non-toxic wood, designed to resemble human homes. These furniture pieces allow pets to play, explore, and feel secure.
Key Market Takeaways
- The global pet furniture market is anticipated to witness a CAGR of 6.2% from 2024 to 2031, driven by rising pet humanisation and increasing disposable income.
- The beds and sofas segment is expected to dominate the market due to the growing demand for comfortable resting areas for pets.
- The dogs segment holds the largest market share by pet type, reflecting their popularity as companion animals worldwide.
- North America is anticipated to dominate the pet furniture market through 2030. This is driven by high pet ownership and expenditures in the region.
Key players in the global pet furniture market include North American Pet Products, Go Pet Club, Inter IKEA Systems B.V., and PetPals Group Inc. These companies focus on enhancing their product portfolios through innovation and expanding into growing international markets.
