Global Pet Accessories Market to Reach $42.3 Billion by 2026
Emergence of pets as extended part of the family rather than just companion animals is driving consumer spending on pet care. Pets such as cats and dogs are known to offer comfort, companionship and support, addressing the human need for emotional connect and physical touch. Studies have demonstrated that interactions with a cat or dog reduce cortisol levels and blood pressure while improving secretion of oxytocin, dopamine and serotonin that relax the human body. Stay-at-home restrictions due to COVID-19 outbreak have presented the perfect opportunity for pet ownership and spending time with pets. Amid the COVID-19 crisis, the global market for Pet Accessories estimated at US$29.4 Billion in the year 2020, is projected to reach a revised size of US$42.3 Billion by 2026, growing at a CAGR of 6.3% over the period. Pet Toys, one of the segments analyzed in the report, is projected to record 6.9% CAGR and reach US$19.8 Billio
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14th May 2021
Pet Media Group, the Sweden-based operator of Europe’s largest online marketplace for pets, Pets4Homes, has announced the acquisition of another European pet classifieds site.
In line with the company’s ongoing strategy to become the dominant destination globally for pets and their caregivers, it has acquired Netherlands’ largest pet dog classifieds site, Puppyplaats.nl, which boasts hundreds of thousands of visitors per month.
The move follows the company’s recent acquisitions of leading Italian pet marketplaces AnnunciAnimali.it and AllevamentiRazze.it, in February 2021.
Since 2013, Puppyplaats.nl has been the go-to online destination for Dutch individuals and breeders to find puppies and dogs or suitable studs, with 85% of traffic coming from the Netherlands and 15% from Belgium. In concurrence with the operations in Pet Media Group’s other geographies, Puppyplaats has enforced strict listing rules to ensure that animal welfare standards are met and has