Pet Water Fountain Market – Overview On Demanding Applications 2029

Posted on 2021-02-23 by Future Market Insights, Inc in Retail // 0 Comments

Pet water fountains are coming up as a flourishing business among pet supplies, owing to which it is receiving financial support from external investors. With optimized cash inflow, pet water fountain market is projected to garner an absolute dollar opportunity of around US$222 Mn between 2019 and 2029. Fund managers, especially exchange traded funds (ETF) have shown keen interest in pet businesses. Proshares, one of the ETF providers has dedicated an ETF known as PAWZ for pet businesses. PAWZ gives investors the opportunity to gain broad exposure to public companies in the global pet care industry. Gabelli Pet Parent Find NextShares is another ETF that has been actively investing in pet businesses.

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A few years back Ratan Tata, an India based industrialist invested in Dogspot.in, as a continuation of its investment strategy for startups. With renewed focus on large scale investments, the pet water fountain market is set to gain prominence during the forecast period.

Key Takeaways of Pet Water Fountain Market –

Plastic-based pet water fountains accounted for more than 50% of the market in 2018. Decelerating costs of plastic-based pet water fountains as compared to steel, ceramic & stoneware variants makes plastic-based pet water fountain a preferable option for pet owners.

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East Asia accounts for more than 1/5^th of pet fountain market share, and is expected to exceed the European market by end of forecast period. Pet ownership rose at an abrupt pace in the past three-four years in East Asia, consequently leading to high growth in pet water fountain market.
In 2018, pet supply stores were the largest revenue streams for pet water fountains. However, by the end of forecast period, online stores are expected to surpass it.
Pet fountain market is consolidated with top three players accounting for more than 55% of revenue share. Hagen Group leads the competition with a strong performance of its brands Catit, Dogit and Zeus in the global market.

“Manufacturers of pet water fountain have an opportunity to expand outside their established bases through engagement with local partners.” says the Fact.MR analyst

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Garnering Customer Loyalty and Product Differentiation Remain Key Strategies

Tier 1 companies including Hagen Group, Doskocil Manufacturing, and Radio Systems Corporation commanded a revenue share of over US$ 55 Mn in 2018. While leading manufacturers have a large pool of loyal customers, mid and low Tier companies are focusing on product differentiation. Tier 1 companies also enjoy a price monopoly as the customers in the developed geographies are willing to pay higher for known brands. Apart from these, there exists a large pool of brands in the semi-organized and unorganized markets that target new pet owners and customers with low budget. It is expected that Tier 2 band of the market will become thicker in the years to come as companies such as iPettie, Pecute and isYoung are practicing robust growth strategies for penetration into newer markets.

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