Market forecast: 72.82 bn dollars by 2027

The American market research company ResearchAndMarkets.com has published its report “Global Pet Care Market 2023-2027”. In this, growth of 72.82 bn dollars is forecast for the global pet care market up to 2027 with an average annual growth rate of six per cent.

According to the study, the market will be driven by growing pet ownership, an increased preference for natural and organic pet care products and by the humanisation of pets. The popularity of pet fashion among owners is also cited as one of the main reasons for the growth in the market for pet care products in the next few years.