by The U.S. pet furniture market covers a wide range of products that pet owners use to provide their pets with comfort, rest, and enjoyment. This includes beds, couches, trees and condos, crates and kennels, which are made from materials such as fabric, plastics, and wicker to suit the needs of pets. Pet furniture allows pets to have designated areas in homes similar to humans and promotes animal wellness. The increased trend of humanization of pets where they are considered family members is a key factor driving more spending on high-quality and specialized furniture for pets.
The Global U.S. Pet Furniture Market is estimated to be valued at US$ 2.3 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the U.S. Pet Furniture Market Demand are PetFusion, PetPals Group, Moduck, Legends Pet Products, MidWest Homes for Pets. Key players are focusing on innovative, multi-functional and eco-friendly products to meet rising demand.
The growing demand for pet furniture is being driven by factors like increased pet adoption during the pandemic, humanization of pets, growing awareness about pet wellness. More people are treating pets as family members and investing in their comfort and happiness.
The U.S. pet furniture market is also witnessing expansion in e-commerce sales and product lines by established brands. The growing array of products tailored for specific pet sizes and needs are further supporting the market growth. Market players are also tapping international markets with favorable regulations to leverage growth opportunities.
Market key trends
One of the key trends in the U.S. pet furniture market is increased demand for eco-friendly and sustainable materials. With rising awareness about environment protection, more pet owners are preferring plant-based and recycled materials like bamboo, soy, coconut coir that are durable and eco-friendly. Leading players have launched green product lines made of these natural materials to meet the growing consumer demand.
Porter’s Analysis
Threat of new entrants: Low start-up costs allows new players to enter the market easily but established players have strong brand and retail networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives but choose products based on brand, quality and affordability.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials are easily available in the market.
Threat of new substitutes: Threat from substitutes is low as Pet Furniture has no close substitutes and caters to a distinct need however substitutes include dog beds and cat trees.
Competitive rivalry: Intense competition between established brands and private labels.
Geographical Regions
The Midwestern region accounts for over 30% share of the U.S. Pet Furniture market in terms of value due to high pet ownership in states like Illinois, Ohio, Michigan, Wisconsin etc.
The Western region is the fastest growing market for Pet Furniture in the U.S. led by states like California, Washington where pet humanization trends are driving higher spending on pet accessories. States in the Mountain region like Colorado and Idaho are also witnessing rapid growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
