The global market for dog float market is estimated to be worth USD 984.1 million in 2021 and is anticipated to reach a value of USD 1,374.9 million by 2031. Sales are projected to rise at a CAGR of 3.4% over the forecast period between 2021 and 2031. The revenue generated by the dog float market in 2020 was USD 966.7 million. The industry is anticipated to exhibit a Y-o-Y growth of 1.8% in 2021.
Global Dog Float Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 966.7 million |
| Estimated Size, 2021 (E) | USD 984.1 million |
| Projected Size, 2031 (F) | USD 1,374.9 million |
| Value-based CAGR (2021 to 2031) | 3.4% |
The target market is segmented under shape, size, and sales channel. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The demand for the dog float is rapidly growing due to the increase in the number of pets owned and the need for new and unique pet care products. These dog flotation devices enable dogs to swim safely by floating on the water, thus becoming trendy items among pet lovers who like outdoor activities. These floats are created to be long-lasting and comfortable, they are great for dogs to chill and have fun.
The market is also experiencing an increase in the pampering procedure for animals with more consumer spending on superior, fashionable, and secure products. Thus, there is a correlation between summer and water sports activities and the need for dog floats.
The competitive landscape of the dog float market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Pet Expertise LLC, Kai Pet Pool Floats, Spin Master Ltd., and Cinmar LLC among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 390.7 million and is predicted to rise approximately 1.4 times the current market value through 2031.
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The global pet accessories industry is expected to grow due to a number of factors. The rising popularity of pet adoption is driving up demand for pet accessories like dog float. Having a dog as a pet brings a lot of love and affection, as well as health benefits. Dogs are frequently used to alleviate loneliness in people's lives. A pet at home encourages people to get out and socialize.
Going for a stroll with a pet, such as a dog, can help with health issues such as blood pressure and cholesterol levels. People consider a companion animal to be their best friend. The close bond that exists between a dog and a human being can frequently aid in the resolution of issues such as depression and other forms of mental stress. It also covers the issue of loneliness in one's life.
These advantages of pet adoption have led to a rise in pet adoption rates around the world. Furthermore, when participating in outdoor activities such as swimming, where some dogs are scared of water, a dog float allows them to enjoy the water alongside their guardians.
Customization is a popular trend in the dog float industry. In order to entice pet owners, the producers of dog float provide customized dog float. The SwimWays spring float paddle paws dog pool float, for example, is specifically developed for pets. The float is made of a claw-friendly, puncture-resistant plastic with a paw print pattern. This float folds up easily for storage and transit.
Furthermore, the pet floats are offered in various shapes and sizes according to the pets is the on-going trend. For example, the Midlee brand offers inflatable bone shaped dog float which is perfect for small as well large dogs.
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The United States is the most valuable market for dog float in the world. According to the statistics of National Pet Owners in 2019, around 67% of USA households owned a pet, among which 63.4 million are dogs owned by majority of the households. Furthermore, physical activities to keep the dogs active is rising. The consumers across the region are willing to pay more for premium products, thus augmenting the dog float market in USA.
Furthermore, the manufacturers are concentrating on providing more environmentally friendly items. Pet Expertise, LLC, for example, sells Eco Fly-n-Tug floats, which include an exterior layer made of 100 percent natural, sustainable hemp canvas and an inner layer made of 100 percent eco-felt wool. The product is non-toxic, lead-free, and printed with eco-friendly ink.
Consumers in Europe have shown a desire to utilise more environmentally friendly items in order to reduce their environmental effect. This has prompted dog float producers to develop more environmentally friendly floats. Dog float firms are increasingly opting towards sustainability within the pet accessories sector, the notion of sustainability is on the rise.
Kai Pet Pool Floats, for example, are unusual beanbag-style pet loungers that keep dogs buoyant above the water while also keeping them cool when soaked. They're crafted of stain-, mold-, and mildew-resistant Sunbrella® fabric, have a simple drain for removing extra water, and double as outdoor pet beds when your dog gets bored of floating around the pool.
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Some of the leading manufacturers and suppliers of dog float include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Dog Float Market
