NEW YORK, United States, Feb. 09, 2024 (GLOBE NEWSWIRE) — Furniture made for animal use became widespread in the early 21st century. There are many common items available, including pet beds, dog houses, swings, dog coolers, cat trees, parrot tents, and expensive play equipment. Also, manufacturers in this industry focus on creating stylish, functional products that meet the needs of pet owners. The design-oriented approach they are using can also complement the decor of a pet owner’s home.
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The availability of a wide range of fashionable and multifunctional pet furniture drives the global market.
According to Straits Research, The total addressable market (TAM) for pet furniture was valued. 3.60 billion USD in 2021. It is possible to reach USD 6.13 billion by 2030growing at a CAGR of 6.1% during the forecast period (2022-2030).” The availability of a wide range of fashionable and multifunctional pet furniture drives the pet furniture market. Market players are finding innovative ways to combine multiple functions and styles to meet the expectations of pet owners. They are creating furniture that is functional and attractive at the same time. The market growth is accelerated as a result of the availability of different types of pet furniture. Because personalization allows consumers more creative freedom, they get more value out of it. Many people prefer pet furniture made from recycled materials or more eco-friendly woods such as acacia, bamboo, or reclaimed wood because they want the environmental impact to be negligible. Products that give consumers freedom of choice help the market grow.
Advances and innovations in smart pet furniture create tremendous opportunities.
To develop innovative pet furniture for their customers, market participants in the global pet furniture market invest significant R&D. These intelligent pet beds with climate control monitor your pet’s activity, comfort and weight. Given the popularity of smart pet furniture and the extensive research in this area, there is room for further development. By working with modern technology, pet furniture meets the needs of owners while allowing for growth potential. This significantly expands the options of the pet furniture industry.
North America Pet Furniture Market Share It is expected to grow at a CAGR of 5.6% during the forecast period. North America has the most significant market share for pet furniture. Pet furniture innovation is driving the equipment market in North America. Due to increasing healthcare costs and established medical facilities, North America is projected to hold a significant share in the global pet furniture industry. Demand for temperature-controlled, orthopedic, and electrically heated beds has increased due to the comfort and associated health benefits of these beds. PetPals Group, Inc., Go Pet Club, MidWest Homes for Pets, North American Pet Products, and Ware Pet Products are the top businesses involved in the pet furniture market.
Europe is expected to grow at a CAGR of 6.4% during the forecast period, generating USD 2087.14 million. All age and demographic groups in Europe place dog ownership as a high priority in their social lives. As a result, pet furniture is growing in popularity. End users are attracted to this market by premium materials, attractive finishes, limited edition positioning, and branding. Additionally, as disposable income increases, so does the cost of pets to provide for their comfort, fitness and health. Some of the popular companies in the region include Franti, Suzy’s Creations, Dog Sofa, Berkley Dog Beds Ltd., Pet Craft, Lulu’s Pet Couture and others.
- On the basis of pet type, the global pet furniture market is segmented into dogs, cats, and others. The dog segment is the largest contributor to the market and is expected to grow at a CAGR of 6.6% during the forecast period.
- On the basis of product type, the global pet furniture market is segmented into homes, beds and sofas, and trees and condos. The housing segment holds the largest market share and is expected to grow at a CAGR of 6.1% during the forecast period.
- On the basis of distribution channels, the global pet furniture market is segmented into specialty stores, supermarkets/hypermarkets, e-commerce and others. The specialty stores segment is the largest contributor to the market and is expected to grow at a CAGR of 6.1% during the forecast period.
- North America is the most important shareholder in the global pet furniture market and is expected to grow at a CAGR of 5.6% during the forecast period.
There are major key players in the global pet furniture market. Furhaven Pet Products, Go Pet Club, Midwest Homes for Pets, Nest Bedding, North American Pet Products, Petpals Group, Inc, Prevue Pet Products, Taizhou Huamao Handicraft Article Co., Ltd, Ultra Modern Pet, and Ware Pet Products.
- In October 2022, Nest Bedding recently launched natural pet bedding to expand its customer base and expand its market reach.
- In November 2022, Balenciaga Objects, the new division of the Parisian house under the creative direction of Demna, promises a wide range of home accessories, including pet clothing, fragrances, limited edition items and custom furniture. .
Global Pet Furniture Market: Segmentation
According to the type of pet
According to the type of product
- Beds and sofas.
- Trees and condos
By distribution channel
- Specialty stores
Depending on the regions
- North America
- Asia Pacific
Get detailed market segmentation @ https://straitsresearch.com/report/pet-furniture-market/segmentation
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