Pet Perfume Market: Current Analysis and Forecast (2024-2032)

Report Description

Pet Perfume Market Size & Forecast

The pet perfume market was valued at approximately ~USD 1473.1 million in 2023 and is expected to grow at a strong CAGR of around 5.2% during the forecast period (2024-2032) owing to the increasing pet adoption, increasing awareness and demand for pet hygiene, and rising disposable income efficiency globally.

Pet Perfume Market Analysis

Pet perfume is the relatively new product category within the global pet care industry which has benefited from the rising pet ownership and pet humanization trends. Consumers are willing to pay for specialized products because they consider their pets as part of their families and they want only the best for them, especially when it comes to grooming. This has resulted in increased demand for perfumes for pets which not only give the pets a good smell but also help in the hygiene aspect of the pet by eliminating bad odors while giving a nice smell. It also has a multitude of choices for products within a price range from luxury to hypoallergenic to fit a variety of consumers’ preferences and needs. When disposable incomes are high and consumers are more knowledgeable about pet products, pet perfumes are forecasted to grow further on the back of product differentiation and growing focus on quality, and brand pet care.

Recent Developments in the Market:

• In 2023, according to the American Pet Product Association, pet owners spent USD 147 billion on their pets.

Pet Perfume Market Trends

This section discusses the key market trends that are influencing the various segments of the pet perfume market, as identified by our team of research experts.

The Woody Segment Transforming Industry

The woody segment of pet perfumes is growing rapidly with demand at a substantially higher level, which is due to changes in the selection of pet perfumes in the range of perfumes. This trend is consistent with the consumer preference for sophisticated and realistic fragrances, which are gradually being adopted as ingredients for pet grooming. Woody fragrances including sandalwood, cedarwood, and vetiver are the current trends as they have warm, rich, and relaxed feelings. These scents are most favored by pet lovers to ensure that their animals get excellent grooming without comparing them to the usual floral or fruity smell. Also increasing the consumer appeal, the woody segment takes advantage of the nowadays push towards natural and sustainable ingredients. With more and more pet owners adopting various and lavish grooming products, the woody segment is expected to have a growing audience, primarily owing to its rather refined, enduring pleasant smells of the line and its compliance with modern changes in customers’ preferences towards more specific and organic odors.

North America held a significant share of the market in the year 2023

The North American pet perfume market is growing at a good pace due to the increasing pet adoption, expenditure on pet care especially grooming products and services, and product differentiation. North America has adopted the culture of embracing pets as companions, hence, the increased willingness of consumers to spend on luxury items including the fragrances meant to be used in grooming pets. Another factor that supports the market growth is the people’s tendency towards personalization even their pets, which results in increased sales of specialized and high-quality products.

• In August 2023, U.S.-based BioLargo Inc.’s hit pet odor control product Pooph was launched at more than 20,000 stores this year, a tenfold increase in its current retail store count. The company also announced a 127% increase in year-to-date revenues compared to the last period.

Pet Perfume Industry Overview

The pet perfume market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Cosmos Corporation; Earthwhile Endeavors, Inc.; The Basil; Mipuchi New Zealand Limited; Isle of Dogs; Warren London; Captain Zack; Odo-rite; Alpha Aromatics; Boltz Petcare.

• In March 2022, Symrise submitted a binding offer to acquire 100% of R. Romani – Société Française d’Aromatiques (SFA Romani), a high-end fragrances house. In addition, Symrise submitted a binding offer to fully acquire Neroli Invest DL (Groupe Neroli). Both companies are based in the Grasse area in France. With these transactions, Symrise intends to reinforce its fine fragrance presence in southern France, strengthen its competitiveness in the creation of fragrance compositions, and broaden its presence in key countries in Europe, Africa, and the Middle East.

Pet Perfume Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global pet perfume market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Pet Perfume Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global pet perfume market were the three major steps undertaken to create and analyze the adoption of pet perfume in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global pet perfume market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the pet perfume market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the pet perfume market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as pet type, fragrance type, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the pet perfume market. Further, we conducted factor analysis using dependent and independent variables such as pet type, fragrance type, and regions of the pet perfume market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the pet perfume market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global pet perfume market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the pet perfume market across the major markets domestically.
• All percentage shares, splits, and breakdowns of market segments and sub-segments.
• Key players in the global pet perfume market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were conso0lidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global pet perfume market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of the pet type, fragrance type, and regions in the global pet perfume market.

The main objective of the Global Pet Perfume Market Study

The current & future market trends of the global pet perfume market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the pet perfume market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the pet type, fragrance type, and regions.
• Define and analyze the regulatory framework for the pet perfume
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the pet perfume market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the pet perfume market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

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