Tuesday, December 14, 2021

Ultra High Temperature Milk Market Will Create New Growth Opportunities

Industry Insights

The global ultra high temperature milk market accounted for USD 53.4 billion, in 2018. It is estimated to grow at a CAGR of 7.8% during the forecast period, 2019 to 2025. For the sterilization of raw milk, it is heated at 135 Degree Celsius which helps in killing the germs and parasites present in the milk. This sterilized milk is also called as UHT milk. Useful life (shelf life) of this product is greater than the raw milk without using any preservative. Moreover, it has wide application in ready to drink products. These factors are expected to drive the market growth over the forecast period.

Manufacturers are focusing on product innovation by adding organic ingredients and developing different flavors. For example, Fonterra Anchor which is one of the leading brands in dairy industry introduced a premium range of UHT milk named as LiveUp and NaturalUp. These products are rich in protein and have organic ingredients. They are sold through both online and offline channels. Moreover, high standard of living and changes in lifestyle of people are the factors expected to boost the demand for the product over the forecast period.

U.S. UHT milk market

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This product is more popular among youngsters and has wide application in commercial sector. Students who live in hostels highly prefer this product because of its longer shelf life. Moreover, in emerging countries there are lacks of refrigeration facilities and small food chains and restaurants do not prefer to invest in refrigeration units. Such food outlets highly demand UHT milk as it can be stored at room temperature. Furthermore, pasteurized milk is comparatively cheaper than this product. Therefore, the revenue collected from this product is higher than the revenue obtained from the sale of pasteurized milk.

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Digital marketing strategies, penetration of e-commerce platforms, and strong distribution network are the factors providing potential growth opportunities to the manufacturers of unflavored and flavored milk products. Moreover, increase in the disposable income of consumers and rising preference for premium milk products are the factors further contributing to the growth of the ultra high temperature milk market. Furthermore, there has been a high demand witnessed from Gen-X people for flavored milk products which is expected to accelerate the market growth from 2019 to 2025.

Product Insights

Based on product, the UHT milk market is divided into unflavored and flavored milk products. In 2018, the unflavored UHT milk segment held the largest market share of 77.8%. Milk is one of the daily necessities, thus, has the largest number of consumers. Furthermore, it is widely used as a raw material in making homemade beverages as it has longer shelf life. This factor is expected to accelerate the product demand from 2019 to 2025.

The flavored UHT milk segment is projected to grow at a CAGR of 9.9% from 2019 to 2025. This product is available in several different flavors such as spice, chocolate, banana, and strawberry. This property attracts large number of consumers. Furthermore, inclination of people towards healthy and active lifestyle and rapid adoption of new trends are the factors expected to drive the global demand for flavored milk products. Addition of flavors to the pasteurized milk makes it taste better, thus, it is used in preparation of yogurt, cheese sauce, and fruit juices.

Fat Content Insights

Based on fat content, the ultra high temperature milk market is further categorized into skimmed, semi skimmed, and whole fat. In 2018, the skimmed milk segment accounted for the largest market share of 48.9% and is anticipated to grow significantly over the coming years. Consumers who are inclined towards health lifestyle and have healthy drinking habits highly demand this product because of its low-fat content. Moreover, skimmed milk products are available in different flavors and textures and they are rich sources of calcium and protein. This property is expected to contribute to the sales of skimmed UHT milk product over the forecast period.

U.S. UHT milk market

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The semi-skimmed UHT milk segment is projected to grow at the fastest CAGR of 9.3% over the forecast period owing to increasing demand for milk and milk products in countries like India, China, and U.S. Semi skimmed milk products have medium-fat content and are used in preparation of dairy items such as cheese and yogurt. This is expected to boost the product demand across different regions. For instance, cheese and butter are the products that are highly demanded in U.S., thus, expected to boost the demand for semi skimmed milk products. Furthermore, addition of different coloring agents, sweeteners, preservatives, and flavors make the product more attractive. This factor is anticipated to accelerate the demand for semi skimmed UHT milk over the forecast period.

Regional Insights

In 2018, Europe held the largest revenue share of 40.5%. Consumers from countries such as Holland, Germany, and Belgium highly consume dairy products which are expected to contribute to the growth of regional market. Moreover, the demand for dairy products and UHT milk in Denmark has witnessed a significant rise due to inclusion if UHT milk in regular diets of people. This factor is expected to drive regional demand for the product over the forecast period.

Asia Pacific is expected to be the potential market for UHT milk, and it is to grow at the fastest CAGR of 9.1% throughout 2019-2025. Increasing consumption of dairy products in developing countries like India, Japan, and China is expected to fuel the growth. In addition, high consumption of UHT milk in countries like Taiwan, Vietnam, and Thailand has also contributed to the growth of regional market over the forecast period. Key manufacturers are taking strategic decisions such as business expansion owing to large consumer base in the region and growing demand for UHT milk products.

Ultra High Temperature Milk Market Share Insights

Some of the leading players in this industry includeAlbea Group; Amcor Ltd.; First milk; Bemis Company, Inc.; Ardagh Group; Mondi plc; Bormioli Rocco Spa; Koa Glass Co. Ltd.; Saint-Gobain; Sonoco Products Company; MeadWestvaco Corp.; Mother dairy, and A2 Corporation. For gaining competitive advantage over competitors, leading brands are focusing on strategic initiatives such as product innovation, awareness campaigning about advantages of UHT milk, and mergers & acquisitions.

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Tuesday, December 7, 2021

Treadmill Ergometer Market Is Predicted To See Lucrative Gains

Industry Insights

The global treadmill ergometer market size was accounted for USD 2.62 billion, in the year 2018. It is estimated to grow at a CAGR of 5.2% over the forecast period, 2019 to 2025. The market growth is attributed to the growing adoption for fitness and sports activities resulting in the rise in application of electronic gym equipment. The demand for machines providing personalized feedback on athletic and fitness performance with real-time tracking is on the rise. Also, increasing prevalence of cardiovascular diseases among youngsters has encouraged them to start cardio workouts, which is anticipated to proliferate the demand for the product over the forecast period.

Traditional equipment with power-driven technology is easy to use and help in enhancing performance. This, in turn, has positively attributed to the growth of treadmill ergometers. Further, increasing awareness about fit and healthy lifestyle is driving consumers to adapt to various fitness and wellness activities. This has resulted in increasing demand for smart equipment capable of tracking the fitness performance and provide real-time performance feedback of the individual user. Also, continuous product development and innovation by leading players is predicted to further boost the growth of the market. For example, stair-treadmills are becoming popular due to their growing application in training of physiotherapy and sports sciences apart from their various cardio and strength benefits.

U.S. treadmill ergometer market size

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Consumers are more inclined toward fitness and wellness activities due to the growing prevalence of many diseases. Increasing occurrences of cardiovascular diseases especially in youngsters are projected to boost the sales of cardio equipment. As per the release of the American Heart Association (AHA), Coronary Heart Diseases (CHD) were the major cause of death accounting for 43.2% in the U.S. in 2016. Further, the region also witnessed 16.9% of cases of heart strokes and 9.3% of cases of heart failure in 2016.

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The treadmill has wide applications in pediatric exercises convenient to children for running and walking. It is becoming widely used equipment during an aerobic workout. Furthermore, the establishment of smart gyms using smart equipment is projected to augment the demand for smart gym equipment. This equipment allows users to connect the internet, collects data on individuals’ workout to monitor their growth via continuous cardio tests. For example, iF it offers internet connection in treadmill consisting of various workouts that users can choose according to their convenience with features such as meal plans and fitness support.

End User Insights

The commercial segment led the treadmill ergometers market occupying over 85% share in 2018. Treadmill ergometers are widely used across various commercial places such as gyms, offices, medical centers and fitness clubs. Additionally, the growing construction of a large number of commercial spaces is predicted to fuel the product demand in the upcoming years. As per the data of International Health, Racquet & Sports club Association (IHRSA), nearly 20% of youngsters have membership in gym and fitness clubs in the U.S. in 2018. Also, a report released by the United Health Foundation has reported at least 30% of adults in the U.S. were victims of obesity and cardiovascular diseases in 2018. The growing adoption of fitness activities is projected to supplement the growth of fitness and sports centers over the forecast period.  

The residential segment is expected to grow at a CAGR of 3.6% over the forecast period. The growing working-class population and hectic schedules are driving consumers to opt for the treadmills. Further, the growing concern for CHD and other diseases are projected to encourage customers to start cardio exercises. However, long working hours prevent customers to go to fitness clubs. This factor is encouraging manufacturers to launch new and innovative products that are user-friendly. For example, BODYCRAFT launched TD250 Treadmill machine having foldable features in 2019.

Application Insights

Fitness club led the treadmill ergometer market occupying over 82% of the market share in 2018. The segment growth is attributed to the growing penetration of sports and fitness activities among consumers to lead a healthy life. Manufacturers are concentrating on continuous product innovation with various new features to acquire significant market share. For example, a company named Sports Art introduced a sustainable treadmill named Verde G690. This eco-friendly treadmill uses manpower from various activities such as running, walking and jogging to produce 200 watt-hours of electricity.

Global treadmill ergometer market share

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The medical center segment is projected to ascend with a CAGR of 5.0% over the forecast period. Medical centers and hospitals are the leading consumers of treadmills owing to the growing prevalence of cardiovascular diseases and various heart ailments. Medical centers are focusing on including more treadmills to promote cardio training among the beneficiaries. Leading players are also concentrating on introducing advance products equipped with the latest technology. For example, True Form Runner partnered with NABOSO TECHNOLOGY to introduce Noboso TrueForm Runner for performance and rehabilitation. This product is non-motorized and capable of optimizing neuro and foot activation while running or walking.

Regional Insights

In 2018, North America held the largest market share of around 41.0%. The region has a high customer preference for a healthy and fit lifestyle along with the presence of many leading brands. This has led to a rise in spending by customers on the fitness equipment. Key players are selling treadmills through both offline and online distribution channel. The U.S. led the market with a large number of customer ready to invest in fineness and healthy activities.

Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The growth of medical rehabilitation and fitness clubs is attributed to the development of the wellness industry. This factor is predicted to proliferate the sales of treadmills. The growing per capita income and customer inclination towards the purchase of fitness equipment is expected to further supplement the growth of the regional market over the forecast duration.

Treadmill Ergometer Market Share Insights

Leading players in this industry include Cybex International, Inc.; Amer Sports; ergoline GmbH; h/p/cosmos sports & medical GmbH; TECHNOGYM S.p.A; BODYCRAFT; Johnson Fitness & Wellness; Enraf-Nonius; ICON Health & Fitness; and Life Fitness. In order to gain competitive advantage, the players focus on continuous product advancement. For example, Xiaomi Corporation introduced a foldable treadmills named Walking Pad, which is small in size convenient for residential homes.

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Camping Stoves Market Progresses For Huge Profits By 2025

Industry Insights

The global camping stoves market size was accounted for USD 473.9 million, in 2018. People prefer carrying camping stoves during vacations and camping holidays for cooking food in less time. This is projected to drive the market growth. These stoves are easy to carry, lightweight, compact, requires less cooking time, and are easy to use. Therefore, these features are expected to propel the demand for camping stoves over the forecast period. Moreover, increasing popularity of outdoor activities such as trekking, hiking, mountaineering, and camping among large consumer groups has boosted the demand for equipment and accessories such as backpacks, tents, and camping stoves. This is projected to further fuel the market growth from 2019 to 2025.

Rising consumer expenditure on outdoor activities and rising number of recreational activities such as camping and adventure tours are the factors anticipated to play a major role in driving the market growth. Moreover, governments of different nations are spending money to promote various outdoor tourism businesses. This is expected to further propel the demand for camping stoves in the forthcoming years.

U.S. camping stoves market

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According to one of the reports, majority of the population in U.S. participated in camping activities including children. The data suggested that the rate of camping in U.S. increased by 13.6% in the year (2015-2016). Therefore, users are largely spending on camping equipment including camping stoves. Expenditure of adult participants on camping equipment accounted for USD 546.41, in 2016. Moreover, a report by the ‘North America Camping Report’ suggested that 77 million households in U.S. camp at least once a year. These factors are expected to fuel the market growth over the forecast period.

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Thousands of people who camp occasionally have high budgets to spend on such equipment. Therefore, manufacturers are targeting such people to increase consumer awareness and boost their sales. People usually carry camping stoves during office trips, college trips and vacations, weekend trips, and school camping trips. In addition, these stoves are easy to carry during small weekend trips. This is thereby projected to drive the market growth over the forecast period. 

Product Insights

In 2018, the product segment wood burning stoves accounted for the largest revenue share of USD 251.6 million across the global market. These stoves are highly affordable and serve as the best alternative for cooking food at camping sites. Therefore, their popularity is expected to increase among the millennial population. In addition, this product can be operated without using any fossil fuel. Furthermore, these stoves are lightweight, thereby, making them highly suitable for carrying while trekking and mountaineering. These features are anticipated to drive the demand for this segment over the forecast period, 2019-2025.

The segment of multi-fuel stoves segment is projected to grow at the fastest CAGR of 6.3% over the forecast period. This segment of stoves can be operated using white gas, kerosene, unleaded gasoline, jet fuel, and other different fuels. Features such as limited fuel consumption, quick start and stop feature, and quick heating are expected to influence consumers to purchase these stoves.

Distribution Channel Insights

In 2018, the offline segment of distribution channel accounted for the revenue of USD 364.8 million across the global camping stoves market. Provision for physical verification of bags before making the buying decision is still prevalent among the millennial population. Availability of variety of camping stoves from different brands at organized retail stores such as hypermarkets and supermarkets is expected to drive the product sales over the forecast period. In addition, services providers of camping activities have tie ups with such stores so that they can purchase these camping gears at discounted price.

Global camping stoves market

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The segment of online distribution channel is projected to grow at the fastest CAGR of 5.6% over the forecast period. Rising penetration of e-commerce platforms and internet owing to features such as lucrative offers and discounts, doorstep delivery services, improved accessibility, easy payment options, and hassle free return policy are expected to drive the segment’s growth. Moreover, leading companies are putting their efforts to launch their products offline as well as online platforms to enhance their consumer reach and distribution network. In addition, e-commerce platforms are analyzing useful data to provide lucrative offers to their loyal customers and frequent buyers. All these factors are projected to propel the segment’s growth from 2019 to 2025.

Regional Insights

In 2018, North America held the largest market share of 48.7% across the global camping stoves market. This growth is attributed to rising rate of camping activities in this region owing to hectic lifestyles and frustrating schedules. One-third population in U.S. and Canada tend to spend on premium camping gears owing to their lightweight features and easy usage. Moreover, rising number of camping service providers in this region coupled with presence of pleasing campsites are the factors anticipated to propel the market growth in this region.

Asia Pacific is projected to register the fastest growth with a CAGR of 6.4% over the forecast period. Rising participation and interest of millennial in outdoor recreational activities coupled with increasing consumer expenditure in countries such as India and China are expected to drive the regional demand. In addition, rising demand for camping stoves to quickly cook the food at camping sites is expected to propel the regional market growth from 2019 to 2025.

Camping Stoves Market Share Insights

Leading players in this industry include Coleman Company, Inc.; Johnson Outdoors Inc.; BioLite Inc.; Katadyn Products Inc.; CampChef.com; Ecozoom; Vango; Primus; Cascade Designs, Inc.; and Zhejiang Deermaple Outdoor Products Co., Ltd. These companies are focusing on product innovation and R&D to develop new products to their expand product portfolio and enhance consumer reach. For example, nCamp, in June 2017, introduced camping stove under the wood burning segment whose weight is 1.5 pounds. This lightweight product is expected to gain high popularity among the consumers over the forecast owing to its convenience and easy to use feature.

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Thursday, December 2, 2021

Sports Composites Market To Climb 6.46%

Industry Insights

The global sports composites market size was worth USD 3.48 billion in the year 2019. Increasing demand for durable items in the manufacturing of skis, hoverboards, and rackets is likely to augment market growth in the upcoming years. Additionally, increasing expenditure on the production of innovative products that enhance the strength and boost and golf clubs and hockey sticks, by lowering the total weight is anticipated to increase carbon composites requirement. Moreover, the rising usage of carbon fiber as a textile and prepreg in several sports applications is likely to stimulate demand.

The composite materials procured for producing sports equipment are classified based on the technology used for manufacturing carbon fiber. Higher adoption of constant processing techniques deployed in creating glass reinforced plastics (GRP) is anticipated to lead to higher production of equipment like snowboards, longboards, and skis.

Germany sports composites market

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The carbon fiber market is primarily concentrated, with four participants accounting for nearly half the overall production in 2019. The composites of carbon fiber are largely used in the manufacturing of sports composite materials. The industry is segmented by a higher range of forwarding integration with few key manufacturers like Rossignol and Fischer Sports being the major distributors.

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Material Insights

In 2019, carbon fiber held the dominant position with the majority of shares due to the higher adoption of fiber in bicycle frames, rackets, and golf clubs. Easy availability of raw material along with superior manufacturing techniques deployed in the production process is likely to boost growth during the projected period.

The rising adoption of glass fiber in snowboards, longboards, and skis due to improved performance is anticipated to surge sports composites market growth by 2027. Glass fibers are largely used in manufacturing snowboards & skis due to their ability to enhance sliding features and provide higher strength while landing.

Resin Insights

The polyamide segment is projected to observe substantial growth due to the rising need for hockey sticks. Moreover, properties of polyamide like better energy transfer are likely to stimulate demand in the seven-eight years. This type of resin is used as a reinforcement item in the blade of the hockey stick as it safeguards the blade against damage from increase impact collisions, ensuring stick weight at a minimum.

Polyurethane held a little over 13.0% share in the market by volume in 2019. The higher adoption of this resin in reinforcing equipment like hockey sticks and polo sticks due to higher durability and strength is anticipated to boost the demand. Moreover, higher use of the segment in court floors provides strength to the floor and offers ease of maintenance and cleaning of the floor. The rising use of artificial turf for American football, rugby, and hockey is predicted to boost the demand for resin by 2027.

Application Insights

The bicycle application segment is predicted to observe considerable growth from 2020 to 2027. The growth can be attributed to the growing demand for lightweight bicycles in recreational activities and competitive sports. Further, substantial weight loss enhances bike control owing to the adoption of carbon composites in bicycles. Moreover, the growing need for carbon-reinforced bicycles owing to a reduction in cost is likely to boost the demand by 2027.

The growing use of GRPs in the form of a protective layer in snowboards and skis leads to improved control of the boards by the players. Additionally, glass composites in skis lead to lower equipment cost, better geometry, and reduced instances of bond fallouts which are likely to boost the market growth from 2020 to 2027.

Regional Insights

North America held around 30.0% share by revenue in the overall sports composites market in 2019 due to increased technological innovations resulting in higher use of composites for several sports equipment like lacrosse sticks and polo sticks. The increasing demand for artificial turf for sports including basketball, golf, and American football is anticipated to augment market growth throughout the projected period.

Europe held a considerable share in the market in 2019. This high share is attributed to the presence large number of manufacturers, thereby, increasing the availability of the products at competitive costs. Additionally, a higher inclination towards tennis and hockey in countries like France and Germany is anticipated to boost growth by 2027.

Impact of COVID-19

COVID-19 has adversely affected the market. Owing to the supply chain disruption, the production of sports equipment dropped considerably. In addition, various sporting events including Tokyo Olympic 2020, Indian Premier League, NBA, Asian street championship for skateboarding, French Open in Tennis, and others have been either canceled or rescheduled to later dates. This factor has led to a rapid decline in the demand for sports equipment. However, most of the events are taking place in the latter half of 2020 and some of them are estimated to take place early next year, thereby, offering significant opportunities for the market players.

Sports composites Market Share Insights

The market is differentiated by constant product innovation, capacity increases, and mergers & acquisitions. Major participants in the market include Rossignol, Jarden Composites, SGL Group, Aldila Inc., and Toray Industries Inc. These players are focusing on introducing lightweight and durable composites to garner a larger consumer base. For example, in 2020, Looks introduced T20 track bikes which use lightweight composite.

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Pet Wearable Market Shows Signs Of Strong Growth

Industry Insights

The global pet wearable market size was worth USD 1.6 billion in 2019. Further, it is projected to expand at 14.3% CAGR over the forecast period, 2020 to 2027. Emerging countries such as China and India have witnessed increased adoption in the pet population. In addition, pet spending has increased considerably over the past few years, which, in turn, has propelled the demand for pet wearables. Moreover, the integration of pet wearable devices with IoT is estimated to supplement the market growth in the next few years.

U.S. pet wearable market

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Wearable technology helps in easy identifying, tracking, medical diagnosis, and other security solutions. Owing to these features, it is witnessing increased adoption. Pet owners track their pet’s daily activity, which helps in better monitoring of their pet, even from a remote location. Integration of RFID and GPS systems in pet wearable technology has helped in improving the pet’s quality of life.

Several technologies used in pet wearable devices are GPS trackers, RFID sensors, Bluetooth, cameras, antennas, and transmitters among others. Using these technologies, pet owners identify any disease in the early stage and provide medical care accordingly. Wearable devices help in enhancing pet engagement with the outside environment along with ensuring better connectivity with their owners.

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However, factors such as lack of awareness about the benefits of these devices, lower battery life, and high consumption of power are restraining the market growth. The majority of devices use advanced technologies such as wireless networks and GPS technology. These advanced technologies consume a lot of power and need frequent charging. In addition, high initial expenditure on these devices further affects their demand.

Technology Insights

By technology, the RFID category accounted for the largest share in the pet wearable market with over USD 634.4 million in 2019. RFID ensures better accuracy, transparency, and reliability in pet tracking and identification.  Pet wearable based on RFID is used in conjunction with sensors to accurately monitor various health parameters such as pulse, body temperature, respiration, heart rate variability, and calorie intake among others. Wi-Fi-enabled RFIDs are mostly used to track the location of users. These devices are estimated to reduce the instances of pet theft. England & Wales recorded around 1,849 dog theft in 2018 which was 20% more than in 2015.

On the other hand, the GPS-enabled technology is projected to register the highest growth with over 14% CAGR over the forecast duration. Growing pet monitoring and security requirement are leading to the growth of this segment. GPS-based devices help in tracking stolen dogs as they provide the location in real-time. In addition, two-way communication with the help of software platforms and integrated devices is gaining traction for pet tracking.

Application Insights

Depending on the application, the market is classified into behavior monitoring & control, safety & security, identification & tracking, facilitation, and medical diagnosis & treatment. Of them, in 2019, the identification & tracking category accounted for more than 63% share in the market. Further, the segment is anticipated to continue its healthy demand over the next few years. As estimated by American Humane, nearly 10 million cats and dogs are either lost or stolen in the United States each year. Wearable technologies such as smart collars and smartwatches help in preventing such incidents. As a result, gaining their popularity.

Global pet wearable market

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On the other hand, the medical diagnosis & treatment division category is estimated to register the highest growth over the forecast duration. Increasing demand for those devices that provide information about physical activity and the health of animals is attributing to the growth of this segment. Obesity in dogs and cats can lead to diseases along with reducing their life expectancy. As per a study done by the Association for Pet Obesity Prevention (APOP), it was found that 56% of dogs and nearly 60% of cats are either overweight or obese in 2018.

Regional Growth

With a market value of USD 635.1 million, North America held the highest share in the market in 2019. As reported by APPA, the total expenditure on pet consumables was USD 72.1 billion in 2018. Thus, increasing awareness about pet well-being and rising expenditure on pet care are supplementing the growth of the market in the region.

While, on the other hand, APAC is likely to witness the highest growth from 2020 to 2027. The rise in awareness about pet health and increasing pet adoption are primary factors driving the market growth. Countries such as Australia and India have witnessed significant adoption of pets in the recent past. Moreover, these countries have also increased their expenditure on pets.

Impact of COVID-19

Like many industries, the pet wearables market has also witnessed sluggish growth due to the outbreak of COVID-19. The pandemic has forced companies to either shut down their operations or operate with the minimum workforce. This has adversely affected the production of new wearable devices. Moreover, amid low demand, manufacturers have reduced their spending on research and development.

However, the impact of COVID-19 would be for the short term on the market. Major economies such as the United States, China, and Germany are estimated to recover soon, which will increase the people’s spending on pet care, thereby, driving the market growth.

Pet Wearable Market Share Insights

Owing to the presence of several new and established players, the market is witnessing intense competition. Market players are emphasizing research and development to introduce new products and consolidate their presence in the market. Key players are also focusing on expansions, acquisitions, and collaborations to gain competitive advantages.

Major market participants are trying to introduce a product that can gather information such as distance traveled and calorie burned. These health parameters can be vital for veterinarians in many ways. For example, a wireless dog monitoring device manufactures FitBark collaborated with wearable technology giant Fitbit in 2018. Major players operating in the market are Fitbark, Nuzzle, Intervet Inc., Tractive, Voyce, Datamars, Invisible Fence, and PetPace LLC among others.

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