Cat Harness Market Overview
As per the latest research done by the Fact.MR, over the historical period of 2016-2020, the cat harness industry grew at a modest pace. However, during the forecast period, the demand for cat harnesses is projected to grow at a moderate to high CAGR. This increase is predicted as people’s discretionary income rises, resulting in increased spending on pet care and safety.
What are Driving Factors for Cat Harness Market?
The advanced protection provided by the cat harness will help in the fast penetration of this product into the market. The harness is used to distribute weight and tension over a wide area of the cat’s body while also reducing strain on the neck and back. Harnesses can avoid injury to the throat of the cat’s body, which occurs when tying a leash. This advanced safety measure causes the product to bolster its growth over the market space.
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When it comes to the cat harness market, an increase in disposable income is also a significant driving factor. With more discretionary money, pet owners are more likely to consider purchasing pet care devices such as cat harness. These products are predicted to catch more demand as a result of this factor over the projected period.
Regional Outlook of Global Cat Harness Market:
The adoption rate of pets in the United States has increased dramatically, with dogs being the most popular choice. Cats account for more than 34 percent of household pets, according to the Insurance Information Organization (III Org), and this figure is projected to rise significantly. With this adoption pace, pet cat protection becomes a major need, driving the market for cat harness.
The Asia-Pacific region’s market growth is being fueled by an increased awareness of pet care and wellbeing. Furthermore, the rapid urbanization of this area propels business development. China is the dominant country in this area and is anticipated to drive the East-Asia dog harness market due to the country’s high pet ownership rate, which drives demand for cat harness.
How COVID-19 does Impact the Cat Harness Market?
The pandemic of COVID-19 caused chaos on global and regional economies, affecting multiple businesses and nations. The cat harness industry experienced a downturn as a result of uncertainty such as paused overall manufacturing and services. Despite having a major impact on the global pet care market, these disruptions are likely to be transient and diminish as industries regain normal operations.
COVID-19 has affected the cat harness market not only from manufacturer’s side but also from demand side. The government’s lockdown guidelines forced pet saloon facilities and others commercial facilities to stall transiently, which lasted for a long time. This resulted in a serious economic breakdown among small and medium-sized players and forced them to compromise on quality and the purchases of new goods. Hence in the aftermath of recession, the demand continues to expand at a moderate to high pace.
Despite moderate growth from the commercial side, it is observed that residential segment has a high growth rate. As of pandemic lockdown, many employee chose work from home option and many others felt psychological loneliness even though people were around. Hence many people have adopted pets. With this increase in the adoption, the cat harness market is expected to have a high growth in the upcoming years.
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Who are the key Manufacturers of Cat Harness Market?
The cat harness market is a fragmented, hence, the market comprises of more number of regional and international players at the market. Some of the leading manufacturers and suppliers of this market are
- Tug N Hug
- Bond & Co.
- Comfort Soft
- Red Dingo
- Good to Go
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 were product launch, collaboration, acquisition, and progressively improving their online sales and distribution channel.
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