Cat Backpacks Market Overview
As per the latest research done by the Fact.MR, cat backpacks market has experienced a high growth rate during the historical period of 2016-2020. During the forecast period 2021-2031, the demand for cat backpacks is expected to rise at a fast pace. This increase is anticipated as people’s disposable spending increases, resulting in increased spending on pet accessories like cat backpacks.
What Are Driving Factors For Cat Backpacks Market?
Pet owners consider their pets to be family members, with almost 72 per cent referring to themselves as pet parents. This is attributable to changing socio-economic and cultural trends, which are projected to fuel the global cat backpacks industry. The growing trend of nuclear families is anticipated to boost the pet market, the demand for this product.
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Growth in the disposable income is another strong catalyst in the cat backpacks industry. With more discretionary funds, pet owners are more likely to consider purchasing pet care supplies and accessories such as cat back packs. These products are anticipated to be in higher demand during the forecast period as an outcome of this factor.
Regional Outlook of global Cat Backpacks market:
UK region is observed to have a significant market share in sales revenue of cat back packs. As this region has higher number of cats as pets when compared to dogs with over one million difference in number at year 2020. Also this region is anticipated to have a significant rise in the adoption rate of pets and most significantly cats as main preference. According to Insurance Information Organization (III Org), more than 43% of household pets are cats, and is expected to grow on a large scale.
With this adoption rate of pets over prominent regions like UK, US and others, people need to find the solutions of pet travelling with their pets. As cat back packs are better solution for travelling along with pet, with added advantages like pet safety ensuring and pet anxiety reduction, these cat back packs are gaining market demand, which is driving the sales of cat backpacks.
Increased awareness of pet well-being and good health is boosting the market growth in the Middle East & Africa region. Furthermore, this region’s rapid urbanization propels the market growth. Dogs have become common in Asia-Pacific because they can be left alone for longer periods of time than cats and are ideal for single and small apartments. This causes the cat back packs market to gain its market position at other regions.
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How COVID-19 Does Impact The Cat Backpacks Market?
The outbreak of COVID-19 made an adverse impact on global and regional economies, affecting almost all industries and nations. The cat back packs market suffered a setback as of uncertain situations like halted total manufacturing and services. Despite having a high impact on the global pet accessories market, these disruptions are likely to be transient and diminish as industries resume their production process.
The epidemic of COVID-19 made governments to implicate lockdown guide lines, which caused many people to stick over at their homes. This situation resulted to the lack of necessity of cat back packs, which negatively impacted the demand from consumer side. However, at the post COVID scenario the market demand is expected to rise, as people are exploring recreational activities with pets, like trekking and others.
Who are the key manufacturers of Cat Backpacks market?
The cat backpacks market is a fragmented, hence the market comprises of more number of regional and international players in the market. Some of the leading manufacturers and suppliers of car backpack include
- Outward Hound Home
- Mr. Peanuts
- Go Pet Club
- Prefer Pets Travel Gear
- Organic Apparel USA
- Paws & Pals
- Pet Magasin
- MidWest Homes for Pets and others.
Manufacturers are actively operating with the objective of achieving a significant share of the market, using both organic and inorganic growth strategies. The main objectives of key players are product launch, collaboration, acquisition, and progressively improving their online sales and distribution channel.
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