June 21, 2024
Europe Pet Furniture Market

Europe Pet Furniture Market is Estimated to Witness High Growth Owing to Increasing Trend of Personalization in Pet Products

Pet furniture includes products such as beds, crates, houses, cushions, carriers, and trees designed specially for pets. Pet furniture provides comfortable sleep and relaxation areas for pets and prevents them from sleeping in undesirable areas. The increasing trend of pet humanisation and growing awareness regarding pets’ well-being have fuelled the demand for pet furniture. Owners are willing to spend more on high-quality and premium pet accessories to provide their furry companions with hygienic and comfortable resting spaces.

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 Go Pet Club, North American Pet Products, MidWest Homes for Pets, PetPals Group, Inc, Ware Pet Products.

The Europe Pet Furniture Market Size in Europe offers remunerative growth opportunities owing to increasing trend of multi-pet households and humanisation of pets. Customisation and premiumisation are expected to drive demand.

Technological advancements like smart pet beds integrated with sensors to track pets’ health are gaining traction. Self-warming and cooling beds provide temperature regulation. Pet trees and condos offer vertical space and activity areas.

Market Drivers

Rising pet humanisation and trend of treating pets as family members have boosted spending on high-quality pet accessories. According to a survey, over 75% of European pet owners view their furry friends as companions rather than animals. This is a key driver for the pet furniture industry. The growing willingness to pay premium prices for pets’ comfort and convenience is another major growth propeller. Also, increasing single-person and multi-pet households offer scope for multiple unit sales.

Current challenges in Europe Pet Furniture Market:

The Europe Pet Furniture Market is facing several challenges that are hindering its growth. One of the major challenges is the lack of standardization in pet products. Due to the absence of uniform regulations and guidelines, the quality and safety standards for pet furniture vary greatly across countries in Europe. This leads to consumer confusion and distrust. Another challenge is the high cost of designing and manufacturing pet-specific furniture. Designing furniture that is comfortable, safe and matches the size and needs of different pets requires R&D investments and specialized skills. This increases the price of pet furniture making it less affordable for some pet owners.

SWOT Analysis

Strength: Rising pet humanization trend in Europe is boosting demand for high-quality and stylish furniture for pets. Pet owners are willing to spend more on keeping their pet comfortable at home.

Weakness: Lack of standardization in regulations leads to concern about safety and quality of imported pet furniture.Absence of uniform guidelines leaves space for sub-standard products to enter the market.

Opportunity: Growth of multi-pet households presents an opportunity for furniture manufacturers to introduce variety of sizes and styles of furniture catering to different pets.Rise in disposable incomes increases spending on pet products.

Threats: Growing popularity of do-it-yourself and second hand pet furniture reduces demand for branded new products.Strong competition from Asian furniture manufacturers who can offer lower prices.

In terms of value, the largest share of Europe’s pet furniture market is concentrated in Western European countries like Germany, UK, France and Italy. Changing attitudes towards pet ownership and growing premiumization are driving strong demand growth for high-quality pet furniture in these countries. Eastern Europe is emerging as the fastest growing region with countries like Poland, Hungary and Czech Republic witnessing rising pet adoption and increasing spending power of pet owners. Streamlining of import regulations is also attracting foreign investments in pet product manufacturing to Eastern Europe.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it