According to the latest study by Fact.MR, dog hoodies market is set to behold a moderate growth during the forecast of 2021-2031. Demand for dog hoodies will witness an increment over short term and long term course of period with optimum growth outlook. However, the sales from western countries are gaining traction, global dog hoodie demand is anticipated to expand at a CAGR of 6% over the same period.
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Increasing demand from pet owners to provide their pets with protection from chilling temperatures and comfort continues to drive the demand for dog hoodies. Increasing expenditure on pet care accessories is also expected to bolster sales.
Sales of dog hoodies will notice an incremental opportunity swing, which has slated a clean pace for manufacturers to expand their businesses. As the demand is least likely to face any undulations, it further prevails the manufacturers to offer innovative products leading the market to be left on a highly positive note.
In addition to providing dogs with hoodies for protection from dropping temperatures, the trend across millennials for dressing their pets in hoodies and other clothing materials is considered to be a symbol of status. This attracts pet owners to spend extra dollar on pet clothing which indeed changes the charge of demand to be on the incremental side.
Growing awareness about pet health among owners around the globe is set to bolster the demand. As COVID-19 induced a huge impact on all the goods and services globally, it left a small scar on pet accessories demand. The dip in sales is observed due to a decline in purchasing capability of pet owners owing to the lockdown and economic crisis.
Dog hoodies demand is set to gain traction post the COVID-19 owing to economies around the globe getting back to normal. The demand is all set to be placed at a high note by the end of the assessment period.
US alone accounts for a huge demand for dog hoodies globally. The US dog hoodie market is anticipated to tread on an incremental pattern during the whole forecast period. Demand is likely to remain muted in the next couple of years, as the nation is still on its journey to make a gradual recovery.
Demand for dog hoodies in US and Canada will be led by the increased inclination of people towards pet adoption. The sales in Canada are majorly reinforced by huge annual spending on pet care products and apparel. As the product being consumer-based, the demand is highly dependent on pet owners perspective of how often to purchase new clothes.
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in US and Canada, have a high proclivity for pet adoption.
Despite the COVID-19 challenges, most European countries have maintained an incremental pet adoption for pastimes. The industries that supply various pet foods and pet care accessories are valued to be several tens of billions of dollars worldwide. The value is set to remain the same lately and is expected to rise at a steady rate.
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By focusing on the product offerings by actors in the supply chain, the potential for the product as pet apparel can be driven through the undulation by improving the expenditure over the forecast period.
Some of the leading manufacturers and suppliers of dog hoodies include Lucy & Co., Bed Head Pajamas, Pet Haus, Wagwear, Fetch & Follow, Bauhound, Pepito & Co., Penn + Pooch, Camp Cloon, Ruffwear, Bettering Tourist Articles Co., Ltd., TOWAY LIMITED, Hangzhou Hongxiezi Trading Co., Ltd., Shaoxing Ostar Apparel Co., Ltd., Shenzhen Sweetpet Pet Product Co., Ltd. and others.
Many leading manufacturers and suppliers maintain a mix of organic and inorganic strategies to prosper in the market. The manufacturers identify high potential suppliers and close deals with e-commerce sites for an exclusive offering of products that helps the market to flourish.
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