According to Future Market Insights (FMI), Indonesia pet care market is anticipated to reach a valuation of US$ 5,372.8 Mn by 2032 with a CAGR of around 9.9%.
The practice of treating pets as part of the family is known as pet humanization. One of the main causes driving the market’s desire for luxury products is the humanization of pets.
The demand for luxury pet goods and services is being fueled by additional reasons including the rising rate of pet adoption and rising per-person spending on pets. People who own dogs similarly care for them to parents caring for their children in a family since they are seen as essential members of the family.
Pet owners take their obligations to their animals extremely seriously. This is motivating pet owners to invest heavily in their animals’ welfare and to be willing to spend more on luxury.
Additionally, they are spending on pleasures and requirements like pet beds, clothes, prescriptions, grooming, and other veterinary services. This is one of the main elements influencing the market for pet products in Indonesia.Key Takeaways from the Indonesia Pet Care Market Study
Over the projected period, pet food is anticipated to have a significant revenue share in terms of service.
Grooming boarding is anticipated to have significant development over the evaluation period because of professional service.
The veterinary care category is anticipated to have the largest share over the projection period.
Due to the e-commerce industry’s increasing market penetration, the online retail segment will rule the market by service channel.
During the projection period, cats are anticipated to hold the majority of the pet market share globally.
According to an FMI researcher, “increased expenditure on pets, growing acceptance of technologically sophisticated automatic pet care, and rising adoption of dogs and cats would drive the market revenue.”