Pet Tag Market Forecast and CAGR
In a recent study by Fact.MR, insights regarding key factors fueling market growth have been offered for the next ten years. These study tracks trends in 20+ high-growth countries, with the regions of Asia Pacific, Americas and Europe leading the way. The impact of the COVID-19 pandemic has also been detailed in the study, with exhaustive insights into what the years ahead will offer for pet tag manufacturers.
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Demand for pet tag market has experienced impressive growth during historical period 2016-2020. Fact.MR projects the trend to continue backed by advancing pet adoption rate in developing and developed economies as well as increasing concern towards pet’s health and fear of losing them.
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Key Factors Driving Demand for Pet Tag Globally
Increasing pet adoption rate globally is facilitating numerous market opportunities for pet tag market in recent past. According to American Pet Product Association (APPA), in last quarter of 2020 pet adoption rate in America increased by 35%. Shelter houses in America and Europe are facing pet shortage amidst covid-19. Residents in these region are opting for pet adoption to support their mental health and have company in this work from home culture.
Furthermore, pet tag customization has resulted in attracting additional customer base, these are the people who are willing to pay high sum of money for security of North America and Europe based countries. With inclusion of more than 75 images and hand-scripted text personalized pet tags remains best choice.
In addition to customization, metal tags with high durability and multi-color designing facility is one of the main driving factor for pet tags market globally. Moreover, Bluetooth enabled tag with water-proof technology is gaining traction supported by the fact that, it alerts owner when dog is more than 300 feet away from him/her. Aforementioned factors coupled with increasing concern towards pet’s safety to facilitate numerous market opportunities for pet tags during the forecast period.
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Key Segments
By Tag Type
Traditional Tag
Digital Tag
By Material
Metal
Wood
Plastic
Other
By Price Point
Mass & Economy
Premium
By Sales Channel
Modern Trade
Franchised Outlets
Specialty Store
Online Channel
By Region
North America
US & Canada
Latin America
Brazil, Mexico, Others
Western Europe
EU5
Nordics
Benelux
Eastern Europe
Asia Pacific excluding Japan
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific
Japan
Middle East and Africa
GCC Countries
Other Middle East
North Africa
South Africa
Other Africa
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Who are the Key Manufacturers and Suppliers of Pet Tags?
Some of the leading manufacturers of grader machinery include
Blue Buffalo
Royal Canin
Natural Balance
Hill’s Science Diet
Nature’s Recipe
Purina Pro
Rachael Ray Nutrish Natural
My Family
Taste of the Wild
Red Dingo.
For More Insights- https://www.einpresswire.com/article/556506843/growing-of-polyurethane-structural-insulated-panels-is-projected-to-take-demand-growth-at-5-cagr-over-the-next-10-years
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