Market Overview
Pet Supplies Market is projected to be valued at USD 38.45 Billion by 2025, registering a CAGR of 6.9% during the forecast period. Pet supplies include beds, furniture, bowls and feeders, cleaning supplies, and plush toys and indestructible chew toys. The increasing per capita disposable incomes are leading to a rise in expenditure on pet care products, which is driving the growth of the global pet supplies market. High competition owing to the presence of several players in the market is leading manufacturers to focus on product innovation and development, further boosting the global pet supplies market size. Manufacturers have introduced products with unique features such as wireless fence collars, automatic feeders, and pet fountains, which are some of the latest pet supplies market trends.
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Competitive Landscape
- Ancol Pet Products (UK)
- KONG Company (US)
- Akrobon (India)
- Pet-i-tude (US)
- Pets Empire (India)
- Radio Systems Corporation (US)
- K&H Pet Products (US)
- Petland (US)
- Church & Dwight Co., Inc. (US)
- ZippyPaws (US)
Market Segmentation
PVC Yoga Mats: The largest segment of the market. The segment accounted for the largest market share of 4% in 2018 and expected to remain dominant during the review period since PVC is inexpensive. PVC mats are abrasion resistant and lightweight. However, the growth of the segment may be hampered by growing environmental concerns since PVC is non-recyclable and contains hazardous chemicals.
Rubber Yoga Mats: Rubber yoga mats account for a significant share of the global yoga mat market. Market players offer yoga mats made from natural rubber and are resistant to oil, durable, and resilient to a wide temperature range. Brands such as Strauss, HFX, and Yogikuti sell eco-friendly natural rubber yoga mats.
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Regional Analysis
Asia-Pacific: The Asia-Pacific market held the largest market share of the global yoga mat market in the recent past and is expected to remain dominant during the forecast period. Since yoga originated in India, the country has a high number of practitioners. Market players such as Shrine Sports Distributors, Shenzhen Haifuxing Technology Co., Ltd., Aerolite, and Shanghai Eversuccess Industries Co., Ltd offer a variety of yoga mats for different exercises, which is boosting the growth of the regional market.
North America: The rising prevalence of lifestyle diseases has led to a focus on health and fitness and the adoption of yoga and meditation. This is expected to fuel the growth of the yoga mat market in North America during the forecast period. The expansion of the yoga industry is also contributing to the growth of the market. The yoga industry in the US is expected to be valued at USD 12 billion by 2020. In 2018, consumers spent approximately USD 20 million on yoga clothing, equipment, classes, and accessories. Lululemon Athletica, Manduka, and Gaiam International are some of the retailers offering sports equipment and yoga mats in Canada and the US.
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