With more families now owning pets, the Europe pet furniture market provides essential products that cater to the comfort and well-being of pets. Pet furniture such as beds, mats, and couches helps promote pets’ hygiene and protects their overall health. They alleviate common pet issues like joint problems while providing a designated space for pets.
The Global Europe Pet Furniture Market is estimated to be valued at US$ 1.75 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Europe Pet Furniture are MidWest Homes for Pets, PetPals Group Inc, Go Pet Club, North American Pet Products, and Synergy Global. Rising trends like humanisation and multipet households have led to increased demand for high-quality, customized pet products. Key players are responding through innovative, eco-friendly offerings targeted to spoil pets.
The growing Europe Pet Furniture Market Demand for pet furniture stems from the rise in nuclear families and working professionals who seek companionship from pets. This has propelled pet adoption rates and increased spending on wellness products to provide utmost care and comfort. Furniture like stairs help elderly pets to avoid joint problems and reduce stress.
With surge in pet adoption across Europe, the market is witnessing rapid global expansion through e-commerce platforms and brick & mortar stores. Improved logistics is enabling pan-European availability as demand grows overseas as well. New product launches tailored to cultural preferences are enabling companies to penetrate diverse regional markets.
Market Key Trends
Customized and eco-friendly designs are a major trend in Europe Pet Furniture Market. Companies offer a wide variety of stylish, material options like organic cotton and recycled wood compatible with home aesthetics. 3D printing and AI are enabling mass personalization of furniture sizes, shapes, and features. Sustainable initiatives and certifications are appealing to socially conscious Gen Z and millennial pet parents.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Europe Pet Furniture market is moderate as the market is fragmented with the presence of both international as well as regional players. However, high initial investment and stringent regulations pose a challenge for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have a choice between various pet furniture brands present in the market. However, switching costs are low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. The suppliers of raw materials for pet furniture include wood, metal, plastic, etc. which are commonly available. However, brand loyalty provides some bargaining power to suppliers.
Threat of new substitutes: The threat of substitutes is low as pet furniture has limited substitutes that provide the same functional benefit. However, pet beds and pet carriers can be considered as substitutes.
Competitive rivalry: The competitive rivalry in the Europe Pet Furniture Market Trends and Analysis high due to the presence of many international established brands as well as local furniture manufacturers. Manufacturers compete on price, quality, innovation, branding and advertisement.
Geographical regions where market value is concentrated:
The United Kingdom accounts for the largest share in the Europe Pet Furniture market, both in terms of value and volume. This is majorly due to rising pet ownership in the country along with growing awareness about pet well-being. Germany is another lucrative market owing to high disposable income, nuclear families and an inclination towards pet humanization.
Fastest growing region:
Central and Eastern European countries are expected to witnessed the fastest growth in the Europe Pet Furniture market during the forecast period. Rapid urbanisation, western influence and increasing awareness about pet care are some of the factors driving the demand. Countries like Poland, Hungary, Czech Republic offer immense potential for pet furniture manufacturers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
