The pet-calming essential oils market is anticipated to expand at a high CAGR over the forecast period.
Pets are known to be the closest friends to humans. The most common types of pets include cats, dogs, birds, and fish. A pet can be classified as a domesticated animal that lives in households and is cared for affectionately. Pets are known to be adopted for companionship and entertainment, and are not forced to eat or work. In the present day and age, the term pet classifies a wide range of animals, which include dogs, cats, fish, rats, rabbits, birds, goats, cows, sheep, horses, ducks, and tortoises. Some households have a niche variety of pets, such as snakes, turtles, and iguanas. The benefits of owning a pet include the reduction of stress, providing companionship, and helping as a relationship developer for households with kids. As the trend for the adoption of pets increases, the demand for pet care products will also be expected to increase. Pet care comes in a wide range of products, which include essential oils, fragrances, clothing, beds, and many others. Pet care products provide health and hygiene management, which includes cleaning the pet’s fur, treatment of illness, and improving the stamina and overall health of the pets.
Pet calming essential oils are products that are made from essential oils such as lavender oil, frankincense oil, peppermint oil, rosemary oil, and many others, which provide relief and reduce problems to the health of the pet. Essential oils are aromatic oils that have a variety of benefits, such as improved healing properties, calming the nerves, promoting health and overall wellness, removing fleas, ticks, and mosquitoes from the body, and helping in the reduction of allergic effects. The pet calming essential oils market is attributed to factors such as increased pet population and an increase in pet adoption.
The North American region is expected to witness significant growth in the pet-calming essential oils market during the forecasted period of 2024-2029, due to factors such as the increase in pet ownership in the region. The United States is known to be the leader in this region due to the increasing number of household pets. As per Health for Animals.org, the population of cats and dogs as pets amounted to 65 million and 85 million, respectively, in 2022. The number of animal adoptions has also shown an increase after the pandemic period, with 70% of US households owning a pet in 2021 compared to 68% in 2016. It was also found that regions including the U.S., EU, and China have over half a billion dogs and cats.
Also, as per the World Animal Foundation, across the US, 6.3 million pets are surrendered to shelters every year, which is 17.260 animals per day. Among them, 3.5 and 4.1 million dogs and cats have been adopted on an annual basis in the United States. As the population of pets increases, the demand for pet care products will also increase. This will provide the necessary boost to the pet-calming essential oils market growth during the forecasted period.
Pet Calming Essential Oils Market Segmentation: