The global pet furniture market size was valued at USD 3.61 billion in 2021. The market is estimated to grow from USD 3.81 billion in 2022 to USD 5.70 billion by 2029, exhibiting a CAGR of 5.9% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Pet Furniture Market, 2022-2029.”
Segments:
Rising Demand for Pet Sofas & Beds is Propelling Market Growth
Based on type, the market is segmented into pet sofas & beds, pet houses, pet trees, and others. Pet sofas & beds segment accounted for the highest pet furniture market share in 2021 due to the growing popularity of different furniture shapes for dogs and cats.
Growth in Global Dog Population to Accelerate Product Sales
Based on pet type, the market is classified into dogs, cats, aquatic animals, birds, and others. Dogs segment dominates furniture sales worldwide.
Rising Number of Offline Retail Shops Worldwide to Trigger Product Sales
Based on distribution channel, the market is classified into offline retail and online retail/e-commerce. Offline retail sales channels will dominate the market in the coming years.
Geographically, the global market is categorized across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market for furniture for pet. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
Drivers and Restraints:
Availability of Various Multifunctional and Customized Pet Furniture Products to Favor Market Expansion
The market for furniture for pets is increasing as high-quality, versatile, and personalized furniture for pet that can accommodate all pet sizes is introduced. One important aspect driving the sales of pet furniture is the availability of dog and cat furniture goods that are tailored to consumers’ preferences, including different colors, patterns, and features that ensure pet comfort. Innovative multifunctional furniture products that pet owners and animals may use are the manufacturers’ main focus.
Regional Insights:
North America to Dominate Stoked by Rising Adoption of Pets in the U.S.
The predicted period is expected to see strong pet furniture market growth in North America. The increase in the number of pets in the U.S. during the lockdown is a significant element driving the market.
Throughout the predicted period, strong growth in the Europe market is anticipated. The market is expanding as a result of rising pet ownership in European nations, including France, Germany, and the U.K.
One of the developing markets for pet furniture is Asia Pacific. Furniture for pet is in high demand in nations such as India, China, and Japan due to the region’s expanding pet ownership rate as well as the growing disposable income of the general populace.
Competitive Landscape:
Partnerships among Companies to Secure their Brand Values in the Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
Key Industry Development:
September 2022: PetSmart introduced an exclusive line of items for animals and pet owners in collaboration with interior designers Jeremiah Brent and Nate Berkus. The new collection includes furniture, accessories, and décor for small pets, reptiles, and fish.
List of Key Players Mentioned in the Report:
- Go Pet Club (U.S.)
- Ware Pet Products (U.S.)
- Inter IKEA Systems B.V. (Netherlands)
- PetPals Group (U.S.)
- MidWest Homes for Pets (U.S.)
- North American Pet Products (U.S.)
- Aosom LLC (U.S.)
- MiaCara GmbH & Co.KG (Germany)
- Fable Pets Inc. (U.S.)
- Critter Couch Company (U.S.)
- Furhaven Pet Products (U.S.)
