According to recently released data from Future Market Insights (FMI), the market for pet apparel is valued at around US$ 5.12 billion in 2023. The pet apparel market is projected to reach US$ 8.74 billion by the year 2033, exhibiting a CAGR of 5.50 per centfrom 2023 to 2033.
An analysis of the demand trends in the pet apparel market further shows that the surging adoption of pets such as dogs and cats, particularly among the millennial and Generation Z population, is the driving force behind the robust global expansion of the pet apparel market.
Moreover, as disposable incomes and purchasing capacity increase, the desire for premium pet products for various occasions, including raincoats, tuxedos, T-shirts, sweaters, and shoes, is giving a significant boost to the pet apparel market.
Among the prime markets for pet apparel, theUSA stands out as a highly lucrative one, poised to register a CAGR of 4 per cent.
Meanwhile, the pet apparel market in India is predicted to record a CAGR of 5 per cent. With India’s pet population ranging between 28 and 29 million, dogs constitute the majority of pet ownership. Concurrently, there has been a substantialincrease in the adoption of cats in recent times. As India’s pet ownership landscape continues to expand, the pet apparel sector is anticipated to grow correspondingly, concludes the report.
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