U.S. Pet Furniture Market Witness High Growth Owing to Rising Trend of Humanization of Pets
The U.S. pet furniture market is estimated to be valued at USD 2.3 Bn in 2024 and is expected to reach USD 3.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Key Takeaways
Key players operating in the U.S. pet furniture are PetFusion, Inter IKEA Systems B.V., Go Pet Club, North American Pet Products, and MidWest Homes for Pets. With rising awareness about pet wellness and happiness, demand for high-quality and designer furniture is rising which is creating ample opportunities for key players in the market. Technological advancements like use of memory foam, organic and eco-friendly materials in pet furniture manufacturing are helping improve product quality and pet experiences.
Market drivers
One of the key drivers for the U.S. Pet Furniture Market Size is growing humanization of pets trend. Pet owners in US are increasingly considering pets as family members and spending more on premium pet products including furniture. This is driving strong demand for beds, kennels, trees as well as aesthetic furniture like sofas. Moreover, small and nuclear family sizes are resulting in owners devoting more attention to their pets' comfort and well-being using specialized furniture at homes. Rising spending capability of pet owners on premium pet care products will further support market growth over coming years.
Current challenges in the U.S. Pet Furniture Market
The U.S. pet furniture market is facing challenges due to rising prices of raw materials and disruptions caused by the ongoing COVID-19 pandemic. High costs of leather, wood, fabric and other materials used in manufacturing pet beds, scratching posts, couches and other furniture have put upward pressure on prices. This has constrained sales volume to some extent. During the peak of the pandemic in 2020 and 2021, supply chain issues and reduced workforce availability led to delays in shipments. Several firms faced production bottlenecks. However, these challenges are expected to subside in the coming years as raw material costs stabilize and manufacturing activities normalize post pandemic.
SWOT Analysis
Strength: Rising pet ownership in the US drives demand. Pets are increasingly treated like family members, boosting spending.
Weakness: Raw material price volatility remains a concern. Significant dependence on China and other overseas suppliers for imports.
Opportunity: Growing popularity of pet cafes and hotels presents an avenue for marketing pet furniture.
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