ICT & Electronics Global Pet Accessories Market Outlook Industry | Page 2

Increasing Number Of Pet Ownership Across
The Globe To Trigger The Growth Of Pet
Accessories Market In Future
“Pet Accessories Market: Global Demand, Growth
Analysis & Opportunity Outlook 2023”
The global pet accessories market is segmented into pets such as dog, cat, birds,
reptiles and others. Among these segments, cat pet accessories segment is
expected to occupy the top position in pet accessories market during the forecast
period. High number of adoption of cat across the globe is anticipated to foster
the demand for pet accessories in corporate sector. On the other hand, rising
adoption of cats in Asia Pacific region is anticipated to positively impact the
growth of the cat pet accessories market.
Global pet accessories market is expected to flourish at a CAGR of 7% over the
forecast period. Moreover, the global pet accessories market is anticipated to
garner USD 22 Billion by the end of 2023. Significant rise in the number of pet
and increasing spending on pet welfare are believed to the dynamic factor behind
the growth of pet accessories market during the forecast period.
North America accounted for the highest percentage of market share in overall
pet accessories market in 2016. Further, North America is expected to continue
its dominance over the forecast period owing to the heavy number of pet
ownership in the region. U.S. is the major country contributing to the growth of
the pet accessories market. Currently, U.S. has the world largest pet population
with 69,929,000 pet dogs and 74,059,000 pet cats. Asia Pacific is expected to
witness significant growth over the forecast period. Rising adoption of