What is Pet Memorials?
Pet Memorials are demonstrating a great comfort to the people of all ages, and from all backgrounds, who have lost a beloved pet. According to a survey it is seen that currently, 76% of 18-24 year-olds in America share their home with a pet. And around 65% of all American households have a dog or cat. The pet memorials market is growing due to their varieties of segmentation in terms of products such as URNS, keepsakes, Jewellery, and many more things. Various countries such as United States, Europe, and Japan, which consume more pet products in the world are steadily increasing the market at a specific growth rate.Furthermore, developing countries like China and India are also contributing a significant upsurge in this market. For instance, China has a low birth rate and a growing number of middle-class adults are choosing to spend money their pets. Hence increasing population that adopts pets as their own child coupled with the rising interest of owners towards having their pets proper crimination is driving the market in forecasted years.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | At Peace Memorials (United States), Kay Berry (United States), Funeral Products B.V (The Netherlands), Milano Monuments (United States), Stardust Memorials (United States), CREMONA (Europe), Matthews Cremation Division (United Kingdom), Bogati Urn Company (United States), Final Gift Pet Memorial Center (United States) and Perfect Memorials (Canada) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Pet Cremation Jewellery (Bracelet, Pendants, and Others), Pet Urns, Pet Casket and Others) , by application (Cat Memorials, Dog Memorials, Bird Memorials and Other pets) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Pet Memorials market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Pet Memorials market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are At Peace Memorials (United States), Kay Berry (United States), Funeral Products B.V (The Netherlands), Milano Monuments (United States), Stardust Memorials (United States), CREMONA (Europe), Matthews Cremation Division (United Kingdom), Bogati Urn Company (United States), Final Gift Pet Memorial Center (United States) and Perfect Memorials (Canada).
Market Overview:
In February 2022, Morris Animal Foundation launch inline community y – Furever Memorials . This is where individuals and families can remember and celebrate their loyal and trusted companions. This launch helped company to expand its presence in Pet Memorials market
The pet memorial market is doing a steady growth in the market because of its key players, providing innovative techniques and methods to the consumers, in order to provide them a peaceful grief Ceremony of their beloved pet ones.
Influencing Trend:
Growth in Pet Owning and Pet Loving Lifestyle among Millennials and Growing Affirmation of Grief as a Natural Reaction to Loss
Market Growth Drivers:
An Increasing Number of Pets Globally Coupled with Their Short Life Span due to Diseases and Rising Concern and Spiritual Connection towards the Pets after their Death by Owners
Challenges:
Lack of Knowledge About these Market in Developing Economies and Availability of Other Services or Rituals Present in Market or Done by Owners Itself
Restraints:
High Cost, of these Products and Services and Concern Related Towards Healthy Living of Pets by the Consumers
Opportunities:
Rising Numbers of Population that are Pet Lovers across the Globe and Growing Tendency of People Towards Performing the Last Rituals for their Pets
Key highlights of the Global Pet Memorials market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Pet Memorials market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Pet Memorials market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Pet Memorials Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Pet Memorials market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Pet Memorials market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Pet Memorials Manufactures, Pet Memorials Distributors, Potential Investors and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.