my pets market

Posted in

Latest Market Report | Pet Care E-commerce Market to Surpass US$ 50 Billion by 2030, Driven by Growing Pet Ownership and Convenience

Rationalstat LLC

Rationalstat LLC

The global pet care e-commerce market is expected to reach US$ 49.6 billion by 2030, with an annual growth rate of more than 11.2%.

Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) — According to RationalStat‘s recent industry analysis, the Global Pet Care Ecommerce Market value is pegged at US$ 23.6 billion in 2023 and is expected to rise at a strong CAGR over 11.2% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

The pet care e-commerce market refers to the online retail sector that specializes in providing pet care items and services. This includes pet food, toys, grooming goods, healthcare supplies, accessories, and even services such as pet grooming or training sessions. The market has expanded significantly in recent years, and numerous reasons have contributed to this rise.

Some pet care e-commerce sites provide subscription services for pet necessities such as food, guaranteeing that pet owners receive regular supply without having to reorder frequently. This strategy maintains client loyalty while providing businesses with a consistent revenue stream.

  • According to a deep-dive market assessment by RationalStat, the global Pet Care E-commerce market has been analyzed on the basis of market segments, including animal

…
Posted in

Spanish pet food sales may hit US$2bil; Brands’ 2022 revenues

The Spanish dog and cat food market ranks among the largest in Europe. Many of the attendees at the inaugural edition of the Congreso de la Industria de Pet Food en Europa (CIPEU) (European Pet Food Industry Conference) worked for the companies that make the food to supply the growing Spanish pet food market. CIPEU was held Sept. 27-28 in Zaragoza, Spain.

Spanish pet food companies help feed Spain’s 9,313,000 pet dogs in 2022, the fourth largest population in Europe, and 5,859,000 pet cats, Europe’s eighth largest. Those figures come from the European Pet Food Industry Federation (FEDIAF) “Facts and Figures 2022” report.

Feeding those pets is profitable. Analysts with Mordor Intelligence estimate that Spain’s pet food market size will reach US$1.71 billion in 2023. They forecast that to rise to US$2.19 billion by 2028, with a compound annual growth rate of 5%.

Another group of market researchers with Statista estimated that Spanish pet food retail sales would reach US$2.0 billion in 2023 and grow annually by 5.18% from 2023-2028.

That pet food was sold in a range of retail outlets from supermarkets to pet special stores to veterinarian’s offices. Retail sales channels were affected by the pandemic, and the

…
Posted in

BSE SME Gabriel Pet Strap makes good debut | Capital Market News

Shares of Gabriel Pet Straps were quoting at Rs 120.75 on the BSE, a premium of 19.55% compared with the issue price of Rs 101.

The scrip was listed at Rs 115, a premium of 13.46% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 120.75 and a low of Rs 111.20. About 3.22 lakh shares of the company changed hands at the counter.

Gabriel Pet Straps’ IPO was subscribed 232.55 times. The issue opened for bidding on 31 January 2024 and it closed on 2 February 2024. The IPO price was fixed at Rs 101 per share.

The IPO comprised a fresh issue of 7,98,000 shares. The promoter and promoter shareholding diluted to 69.84% from 100% pre-IPO.

The company intends to utilize the net proceeds for repayment or prepayment, in full or in part, of borrowings availed by the company from banks, financial institutions and non-banking financial companies, acquisition of land, funding of capital expenditure requirements of the company towards set up of solar power plant and for general corporate purposes.

Gabriel Pet Straps is engaged in the

…
Posted in

UAE’s pet industry thrives as millennials splurge on ‘fur babies’; market expected to surge to $2 billion by 2025

Dubai: A surge in pet ownership, especially after the pandemic, has showcased the immense untapped potential the UAE’s market holds.

Some estimates suggest that pet ownership in the UAE has increased by over 30 per cent since the pandemic, with young singles and seniors particularly embracing pets, predominantly cats and dogs. This has propelled the pet care industry in the country into a market exceeding $360 million, with expectations of reaching $2 billion by 2025.

The country’s millennial ‘pet parents’ are shelling out major cash, too. From pet healthcare and food and services such as grooming, boarding and walking, and even pet hotels, the average pet owner is spending between Dh500 to Dh2,000 per month on their pets.

Amr Hazem, CEO of ThePetShop, said, “This market segment is exceptionally profitable, and it’s among the few areas that remain underinvested. In the Middle East, the pet industry is growing at a still substantial 25 per cent, surpassing growth rates in Europe, the US, Latin America, and Asia.”

He added, “Furthermore, when we consider pet ownership in households, only 8 per cent of UAE households have cats, and only 5 per cent have dogs, in contrast to the US where it’s as

…