The worldwide market for pet carriers is set to show remarkable growth, with projections suggesting a steady increase from $868.65 billion in 2022 to an estimated $913.98 billion in 2023. This indicates a compound annual growth rate (CAGR) of 5.2%. Looking ahead, the market is forecasted to reach a staggering $1,129.19 billion by 2027, maintaining a CAGR of 5.4%.
Paws & Pals Inc., MidWest homes for Pets, Ferplast SpA, and EliteField LLC are among the dominant players in the pet carriers market. They join a list that includes other notable names such as Pet-Tom, Pet Gear Inc., and Coastal Pet, among others.
Understanding the Pet Carrier Phenomenon
Pet carriers are fundamentally portable, secure containers designed to safely move small pets between locations. Their primary purpose is to give pets a sense of security while also safeguarding them during their travels.
There is a variety of pet carriers available, such as soft-side bags, hard kennels, sling carriers, and backpacks. Soft-side bags, in particular, are compact and breathable, crafted from resilient materials like polyester, nylon, or microfiber. These bags cater to a range of pets including dogs, cats, and even guinea pigs and are available through various distribution channels from supermarkets to online retailers.
The Influence of Technology and Corporate Movements
Technological innovation stands out in the pet carrier industry. Leading brands are striving to pioneer advanced solutions to solidify their market presence. A case in point is Delta Air Lines and their introduction of CarePod. This avant-garde pet travel solution boasts features such as a hydration system, potent GPS tracking, and industrial-strength walls to regulate temperature.
Corporate acquisitions are also shaping the industry’s landscape. In a significant move in February 2022, Pet Value Holdings Ltd., based in Canada, acquired US firm Chico Inc. This acquisition not only strengthens both companies but also extends Chico’s reach across the Canadian market.
Market Dominance and Growth by Region
In 2022, North America was identified as the most substantial contributor in the pet carriers market. However, in the forthcoming years, Asia-Pacific is anticipated to emerge as the fastest-growing region. The detailed market report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Countries spotlighted in this report range from Australia, China, and India to France, Germany, and the USA.
One pivotal factor propelling the pet carrier market forward is the upswing in pet adoptions. Adopting a pet means taking an animal under one’s care, typically from previous owners or shelters. Pet carriers play a crucial role in ensuring these pets are transported safely and can also double up as indoor or outdoor kennels.
Highlighting this trend, data from Chewy, Inc. reveals that the USA witnessed approximately 977,202 pet adoptions in 2021. This represents the highest rate of adoption seen over a six-year period, with a remarkable 61% of these pets finding new homes. Furthermore, a national poll by Animal Medicines Australia showcased that nearly 48% of Australian homes host dogs, making them the predominant pet choice.
To sum up, the pet carriers market primarily comprises sales from hard-sided carriers and those equipped with wheels. This market valuation considers the goods sold by manufacturers or developers of pet carriers and associated services.