Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 826.29 Million | USD 1151.13 Million | 4.4% | 2022 |
The global pet travel bags market size was worth around USD 826.29 Million in 2022 and is predicted to grow to around USD 1151.13 Million by 2030 with a compound annual growth rate (CAGR) of roughly 4.4% between 2023 and 2030.
The report analyzes the global pet travels bag market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the pet travel bag market.
The pet travel bag industry revolves around the functions of producers and sellers of bags that are designed to carry and transport pets. The production value of the bags focuses on the comfort and safety of the animals being carried throughout the traveling process. Pet travel bags can be found in various shapes and sizes along with a variety of styles and can be used to carry small or large pets thus meeting the requirements of all pet owners. In recent years, the industry has registered high growth due to the growing number of pet owners that do not mind spending extra on the comfort of their pets while traveling along with them.
The growing rate of pet ownership propels market demand
The global pet travel bags market is expected to grow owing to the increasing number of pet owners across the world. As per the analysis using recent trends, more people are willing to adopt pets owing to the advantages associated with them. Domesticated animals are proven to have several positive mental and physical impacts on their owners. Studies have shown that owning pets tends to reduce anxiety and stress in their owners. This is especially applicable to dogs and cats. Petting or playing with pets can lower stress hormone levels and increase the production of happy hormones. Pets are also known to be excellent companions to owners and help in reducing feelings of loneliness. The presence of a pet is known to provide a sense of security and comfort. Furthermore, many people, who are unable to reproduce biologically, either out of personal choice or medically induced, prefer to adopt pets. In addition to this, the rising trend of pet travel works in the favor of the industry.
The cost associated with pet travel bags restricts the market growth
Some segments of pet travel bags are highly expensive which may act as a significant barrier to the pet travel bag market growth. Pet owners with limited budgets may find it difficult to spend on premium bags and work with regular travel packs. For owners that travel infrequently, the expenditure may seem to be unnecessary. Furthermore, there are growing concerns over the safety of travel bags. This applies to cases where the quality of the product's use of manufacturing of the bags was at sub-par levels.
The growing impact of online sales channels to provide excellent growth opportunities
The global pet travel bag industry players are expected to benefit from the rising sales value on online portals and social media sites. Several small businesses operate through platforms like Facebook and Instagram, offering aesthetically pleasing bags. Although the quality of the backpacks may be questionable, the number of product providers on online portals has increased tremendously. This also allows the industry to expand its presence to a broader audience. Moreover, the growing number of pet-friendly travel accommodations and services may open more opportunities for further expansion.
The intense competition to challenge market growth
The global pet travel bag industry is highly competitive due to the presence of existing players along with the rising number of smaller players offering aesthetically pleasing products. In addition to this, the fluctuating demand from the consumer group may make it difficult for companies to make a sustainable profit since purchasing pet travel bags is a complete prerogative of the consumers. Various social and economic factors can directly impact the demand and price of the product thus acting as a challenge for the industry players.
The global pet travel bags market is segmented into pet types, product types, distribution channels, and regions.
Based on pet types, the global market segments are dogs, cats, and others. The industry witnessed the highest growth in the dog segment since they are the most widely accepted form of pet. The popularity of dogs is across the globe. As per the American Pet Products Association, in 2020, 63.4 million households in the United State owned dogs while cats were adopted as pets in around 42.7 million households. This is an indicator of which segment leads the industry growth. Other pet types like birds, rabbits, and reptiles are also popular but not all countries allow keeping these animals as pets further restricting segmental growth.
Based on product type, the global market divisions are hard kennel, soft side bag, sling carrier, and backpack.
Based on distribution channels, the global market divisions are specialty stores, supermarkets & hypermarkets, e-commerce, and others. Currently, the industry is led by the e-commerce segment owing to the number of small and budget-friendly product providers across e-commerce portals and social media channels. The convenience and ease of online shopping, along with the option to compare prices and products, have allowed e-commerce to become an attractive option for consumers looking to purchase pet travel bags. As per Packaged Facts report, out of USD 10 billion in sales in 2020, almost 27% was from the e-commerce industry. Specialty pet stores and pet supply stores are also popular distribution channels for pet travel bags.
Report Attributes | Report Details |
---|---|
Report Name | Pet Travel Bags Market Research Report |
Market Size in 2022 | USD 826.29 Million |
Market Forecast in 2030 | USD 1151.13 Million |
Growth Rate | CAGR of 4.4% |
Number of Pages | 210 |
Key Companies Covered | Sherpa, Petmate, Outward Hound, Sleepypod, Sturdi Products, Bergan, Gen7Pets, PawHut, Snoozer, Aosom, K&H Pet Products, Frisco, Kurgo, SportPet Designs, Pet Gear, Solvit, KONG, Trixie, One for Pets, and Lixit. |
Segments Covered | By Pet Types, By Product Type, By Distribution Channel, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America to hold its dominance
The global pet travel bags market is expected to witness the highest growth in North America during the forecast period since it is currently one of the largest consumers of pet travel bags. The high number of pet owners along with growing disposable income and the willingness to spend extra money on the comfort of their pets are major market propellers. Furthermore, a growing emphasis on pet care and comfort is important to the growth of regions like the US and Canada.
The latter in particular is one of the strongest segments in terms of regional growth owing to the increasing number of players along with the rising integration of technology to promote traveling with pets. Asia-Pacific is anticipated to emerge as a significant shareholder due to the growing rate of pet adoption in India, China, Japan, and South Korea. Moreover, these economies are slowly but steadily opening up to accepting travelers with pets by announcing supporting programs and initiatives.
The global pet travel bags market is led by players like:
By Pet Types
By Product Type
By Distribution Channel
By Region
FrequentlyAsked Questions
The industry revolves around the functions of producers and sellers of bags that are designed to carry and transport pets.
The global pet travel bags market is expected to grow owing to the increasing number of pet owners across the world.
According to study, the global pet travel bags market size was worth around USD 826.29 million in 2022 and is predicted to grow to around USD 1151.13 million by 2030.
The CAGR value of pet travel bags market is expected to be around 4.4% during 2023-2030.
The global pet travel bags market is expected to witness the highest growth in North America during the forecast period since it is currently one of the largest consumers of pet travel bags.
The global pet travel bags market is led by players like Sherpa, Petmate, Outward Hound, Sleepypod, Sturdi Products, Bergan, Gen7Pets, PawHut, Snoozer, Aosom, K&H Pet Products, Frisco, Kurgo, SportPet Designs, Pet Gear, Solvit, KONG, Trixie, One for Pets, and Lixit.
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