As per the latest market analysis by Fact.MR, a market research and competitive intelligence provider, the market value for smart pet feeders increased at a CAGR of 4.7% during the last four years. In 2021, the smart pet feeder market stood at around US$ 187.3 million.
Increasing awareness of pets and animal welfare is a factor pushing market growth; nearly 60% of U.S. consumers say they are more concerned about animal welfare, especially because it is related to food supply.
There is a growing belief that keeping animals in a healthier state offers several valuable benefits, including improved food safety & nutrition, which ultimately increases the value of life.
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Additionally, pet adoption has increased during the COVID-19 pandemic as people found more time to spend with pets. This indeed calls for timely and to-the-point pet care services.
The global pet care market was worth US$ 199 billion in 2021. With this, demand for smart feeders is poised to escalate at a high CAGR of 7.8% through 2032.
What’s Driving Sales of Smart Pet Feeders?
“Rising Pet Adoption & High Need for Feed Management”
The pet care industry grew rapidly in 2021 driven by experiential spending on pet management. However, looking at the post-COVID era, people have started going back to offices, mandating technology to look after the food cycles of their pets.
Not just food cycles, novel per feeders are also capable of evaluating a pet’s health and state of mind by mixing important ingredients. This ultimately counts in preparing total meal, which relaxes pet parents from looking into these detailed aspects.
Attributed to the aforementioned factors, especially escalating smart pet feeder demand, the market is projected to reach US$ 419.2 million by the end of 2032, creating an absolute dollar opportunity of US$ 220.1 million by 2032.
For Which Pet Types are Smart Pet Feeders Consumed the Most?
The dog pet segment is dominating the market and holds 68.4% market share, expected to reach US$ 268.8 million by 2032.
Due to the increasing number of dog owners as compared to cats and other pets, the dog population is expected to drive high market growth during the forecast period. Increasing owners’ disposable income will drive spending on smart, digitized products such as automated and smart feeders. These smart feeders appeal to both, dogs and dog owners, who are unable to keep their dog’s feeding schedules in check.
The dog pet segment is anticipated to expand at a CAGR of 7.1% over the next ten years.
Why are Sales of Smart Pet Feeders Higher through Offline Channels?
For the top 10 manufacturers, more than 3/5 of the total sales of smart pet feeders come from offline sales channels, with include hypermarkets/supermarkets, modern trade stores, brand stores, pet care stores, and pet care clinics.
Smart pet feeder e-Commence is estimated to grow 1.7X during the forecast period and the offline sales channel market share is predicted to surge to 62.7% by the end of 2032.
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