Pet Traction Rope: Introduction
Pet traction rope is used for controlling pets such as dogs, cats, birds, and other animals. Pet traction ropes are available in different lengths, colors, and materials to cater to the needs of a wide range of consumers. The traction rope comes with two options: automatic retractable and in traditional form. The automatic traction rope segment is expected to expand during the forecast period due to ease of handling.
Demand for pet products has seen an upward trend since the past few years due to increasing pet humanization around the world. This coupled with increasing disposable income and changing lifestyles is expected to drive the global pet traction rope market during the forecast period.
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Key Drivers and Opportunities of the Global Pet Traction Rope Market
Pets in many cultures around the world are considered an important part of the family. Pet ownership is increasing around the world and has shown significant growth over the past couple of years. The U.S. and U.K have been the dominating markets, but demand for pet supplies is increasing in many countries, which is expected to drive the pet traction rope market during the forecast period.
Changes in policies of governments such as lowering the dog licensing fees from US$ 285 to US$ 35 per year in China is expected to increase the number of pet owners. Similarly, the rise in pet friendly public places and increase in disposable income is projected to help drive the pet traction rope market during the forecast period.
Pet supply product manufacturers are coming up with new innovative products to pamper the pets. The rise in trade shows and trade fairs has given worldwide exposure to manufacturers which makes innovation and cost effectiveness a priority. The competition between existing manufacturers is high in the pet traction rope market.
The opportunity of business growth lies in catering to untapped regions and focusing on marketing and promoting products, coupled with an efficient distribution chain. COVID-19 has resulted in decline of sales of pet products in 2020. However, the forecast period is expected to witness a growth in the pet traction rope market due to easing of lockdown rules and consumer involvement in outdoor activities along with their pets.
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South America to hold major share of the global pet traction rope market