LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global pet furniture market to grow at a CAGR of almost 7% during the forecast period, according to their latest market research report.
The advent of smart pet bed is one of the major trends being witnessed in the global pet furniture market 2018-2022. Players in the global pet furniture market are investing a lot in research and development work to design smart pet furniture for affluent customers. These smart pet beds track pets’ weight, rest and activity while providing climate control.
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According to Technavio analysts, one of the key factors contributing to the growth of the global pet furniture market is the availability of a wide range of fashionable and multifunctional pet furniture:
Global pet furniture market: Availability of a wide range of fashionable and multifunctional pet furniture
A consumer’s desire for improved pet products and accessories, including pet furniture is rising. Pet furniture designs have evolved significantly over the last couple of years. Market players are exploring innovative ways to combine multiple functions and styles to cater to the demands of pet lovers. For instance, they are designing furniture that fits seamlessly in homes without compromising their aesthetic value.
According to a senior analyst at Technavio, “Pet furniture manufacturers have moved towards a more design-driven approach and use premium, design print fabrics, faux furs, and wickers to complement any home décor. PetPals Group and other market players have started using natural raw materials like jute, banana leaves, and water hyacinth to design stylish and environment-friendly pet trees.”
Global pet furniture market: Segmentation analysis
The global pet furniture market research report provides market segmentation by product (pet bed and sofa, pet house, and pet tree and condo), by end-user (cat furniture and dog furniture), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the pet bed and sofa segment held the largest market share in 2017, contributing to over 33% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 45% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market growth over the forecast period.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
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Vendor Landscape
- Vendors covered
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