Prominent players in the pet water fountain market are engaging in strategic deals with local partners in regional markets to gain a competitive advantage.
DUBAI, UAE / ACCESSWIRE / February 27, 2020 / The pet water fountain industry is projected to rise at a healthy CAGR of 6% between 2019 and 2029. The widespread proliferation of pet e-commerce and collaborations by heavyweights such as Amazon and Petco are the primary factors driving sales. The transition from conventional offline sales channels to online options will continue to aid the growth of the pet water fountain market. This promising growth outlook can be attributed to associated customer convenience and better product visibility, reveals Fact.MR in its new study.
"Manufacturers of pet water fountain are eyeing opportunity to expand outside their established bases, through engagement with local partners. With renewed focus on large scale investments, the pet water fountain market is set to gain prominence during the forecast period," concludes the Fact.MR report.
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Pet Water Fountain Market - Key Takeaways
- Plastic-based pet water fountains remain bestsellers, accounting for around 50% of market value.
- Offline sales continue to contribute significantly, majorly accounted by pet supply stores.
- Online channels are set to surpass offline sales by the end of the forecast period.
- Top 3 players account for more than 55% of the total market revenue.
- East Asia is a fast growing regional market, with rising pet ownership, accounting for a fifth of the global market share.
- Manufacturers are setting up warehousing facilities in Asian countries such as China to boost cost-effectiveness.
Pet Water Fountain Market - Key Driving Factors
- Increasing footprint of pet e-commerce is driving the adoption of pet water fountains.
- Fund managers, particularly from exchange traded funds, have displayed keen interest in pet businesses, sustaining market growth.
- Renewed focus on large scale investments is pushing the pet water fountain market.
- Raw material options such as steel, ceramic, and stoneware contribute to sales of pet water fountains.
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Pet Water Fountain Market - Key Constraints
- Strict regulations regarding usage of plastic products is a major challenge for pet water fountain manufacturers.
The global pet water fountain market is largely consolidated. The leading players profiled in the report include, but are not limited to Hagen Group, Doskocil Manufacturing, Radio Systems Corporation, Dogit, Aspen Pet, Pet Safe, Cat Mate, and Drinkwell. Market leaders are investing in maintaining customer loyalty. Mid and low tier players are channeling their efforts in product differentiation and targeting pet owners with lower budgets. Smaller companies are gaining importance with robust growth strategies as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the pet water fountain market. Global, regional and country level analysis of the latest industry trends impacting the pet water fountain market are covered in this Fact.MR study. The report offers compelling insights on the pet water fountain market on the basis of material (plastic, steel, ceramic and stoneware), pet type(cats, dogs, and multipet), drinking level (single drinking level, multi drinking level), mechanism (gravity based, and battery/electricity based), filtration (charcoal filters, multi-level filters, and without filter) sales channel (pet supply stores, supermarkets and hypermarkets, and online retail), across seven regions (Middle East and Africa, South Asia, Oceania, East Asia, Europe, Latin America, North America).
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