Pet Accessories Global Market is Projected to Reach $55 4 Billion by 2030: Pet Furniture Market Registers Rapid Growth tmcnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tmcnet.com Daily Mail and Mail on Sunday newspapers.
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The global market for Pet Accessories is projected to reach US$41.1 billion by 2025, driven by the emerging pet loving culture worldwide made hugely popular by media coverage of celebrities and their furry friends. Pet population comprising dogs, cats, birds and other animals is on the rise.
Some factors responsible for the rising pet population include an aging population and empty nesters who adopt pets to fill the void; an increase in households with multiple pets; higher incomes; and growing number of single person households and unmarried or childless households. A growing number of households with children are also adopting pets with research studies revealing pets to have a positive impact on children such as preventing depression and loneliness; develop motor skills by feeding and grooming dogs; encourages outdoor activity such as regular walks with dogs; promotes emotional development by encouragin