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Global Pet Accessories Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

November 14, 2019 GMT
Global Pet Accessories Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
Global Pet Accessories Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Nov 14, 2019--

The pet accessories market size is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global pet accessories market 2019-2023 (Graphic: Business Wire)

The availability of a wide range of fashionable and multifunctional pet accessories is one of the major reasons for the pet accessories market growth. Designs of pet accessories have evolved tremendously over the last couple of years. Vendors are exploring innovative ways of combining multiple functions and styles to cater to the demands of pet lovers. They are designing and developing accessories including furniture that fit seamlessly in homes without compromising on the aesthetic value. Traditional pet furniture only served certain uses. However, advanced furniture such as beds, sofas, gates, crates, and trees, are now being designed to blend with other home furniture.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30012

As per Technavio, the advent of smart pet accessories will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Pet Accessories Market: Advent of Smart Pet Accessories

The advent of smart pet accessories is one of the major trends being witnessed in the global pet accessories market. Vendors have introduced various smart pet accessories, such as smart bed, smart pet feeder, and connected pet collars. The players are also investing in R&D to design smart pet furniture to attract affluent customers. For instance, Petrics Smart Pet Bed & Activity Tracker, a pet health technology company, launched a Smart Pet Bed, Activity Tracker, and Pet Health and Nutrition Application at Consumer Electronics Show (CES) in January 2018.

“Factors such as the growing popularity of customization in pet accessories, along with technological innovation and portfolio extension will have a significant impact on the growth of the pet accessories market value during the forecast period,” says a senior analyst at Technavio.

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Pet Accessories Market: Segmentation Analysis

This market research report segments the pet accessories market by product (pet toys and others), by application (dogs, cats, and others), by distribution channel (offline and online), and by region (Americas, EMEA, and APAC).

The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. The region is expected to maintain its market dominance during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191114005425/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200




SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/14/2019 11:30 AM/DISC: 11/14/2019 11:30 AM