Strategic Snuggles: Business and Revenue Strategies in Pet Furniture Market 2024-2030

ByFortune business

The global pet furniture market size was valued at USD 3.81 billion in 2022 and is projected to grow from USD 4.01 billion in 2023 to USD 6.09 billion by 2030, exhibiting a CAGR of 6.14% during the forecast period.

Pet beds and furniture, often known as animal-friendly furniture, are made to offer shelter and a place to rest for cats, dogs, and rabbits at home. For the betterment of pets’ health, manufacturers are creating novel products like orthopaedic and temperature-controlled electrical heating beds, which is driving up demand for the goods. With its accessibility to the middle class, faux fur and wicker products are in demand all over the world. Fortune Business Insights presents this information in their report titled “Global Pet Furniture Market, 2023–2030.”

List of Key Players Profiled in the Market 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.)

Segments:

Growing Consumer Interest in Pet Sofas and Beds is Driving Market Growth

Based on type, the market is segmented into pet sofas & beds, pet houses, pet trees, and others. Pet furniture is greatly preferred because, in addition to providing comfort for pets, it is frequently seen as a decorative item for homes, are multifunctional, and has a stylish look.

Increase in Dog Population Will Speed Up Product Sales for Pet Furniture

The market is classified based on pet type into dogs, cats, aquatic pets, birds, and others. Global furniture sales are dominated by the dogs. During the lockdown, a rise in the number of pets, particularly dogs, will speed up sales of pet beds and furnishings globally. The pandemic caused a lot of dog ownership in the U.S.

Globally, Growing Number of Offline Retail Stores to Drive Product Sales

Based on distribution channel, the market is classified into offline retail and online retail/e-commerce. In the upcoming years, offline retail sales channels will rule the market. In 2020, the pet sector grew as a result of an increase in the number of pet owners during lockdowns in nations like the U.S., Germany, India, and China.

Report Coverage:
The report offers: 
•    Major growth drivers, restraining factors, opportunities, and potential challenges for the      market. 
•    Comprehensive insights into the regional developments. 
•    List of major industry players. 
•    Key strategies adopted by the market players. 
•    Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Numerous Multifunctional and Customized Goods are Available, Favoring Market Growth

Demand for the product is rising as a result of the introduction of high-quality, versatile, and personalized pet beds and furnishings that can accommodate all pet sizes. A key element driving the market’s pet furniture product sales is the availability of dog and cat furniture goods that are tailored to consumer tastes, including varied colors, patterns, and features that ensure pet comfort. Innovative multipurpose furniture products that pet owners and animals can use are the manufacturers’ main focus, which will result in an increase in the pet furniture market share.

On the contrary, using sustainable and high quality materials for pet furniture results in high costs, which may hamper the pet furniture market growth.

Regional Insights

Increased Pet Population in North America Dominates the Market

Throughout the projection period, it is anticipated that the North America market will expand significantly. One major aspects driving up demand for pet beds and furniture is the increase in the number of pets in the U.S. during the lockdown. U.S. had the largest percentage of households with pets in 2021, according to the American Pet Products Association, are Wyoming (72%), West Virginia (71%), Idaho, Vermont, and Nebraska (70%).

Europe is expected to have a significant growth due to rising population of pets and also increasing demand for pet beds & furniture in European countries such as Germany, the U.K., and France.

Competitive Landscape

Geographic Expansion and Introduction of New Products to Boost Sales and Product Visibility

To preserve their market position, major players in the market have implemented a variety of competitive strategies and are now concentrating on designing and making innovative multipurpose pet goods. To create innovative product designs, the big firms in a fragmented market invest in research and development operations. For example, a French pet care firm called ZOLUX debuted its new line of eco-friendly cat housing in January 2021. Cat trees and little cat houses were offered in the sustainable product line.

Key Industry Development: 

  • March 2022 – Aldi, a Germany-based brand, launched new stylish mini velvet chairs available in three colors for dogs.

Reference Link:

https://www.fortunebusinessinsights.com/pet-furniture-market-106261