Pet Tech Market Size

Pet Tech Market size was valued at USD 9.4 billion in 2024 and is expected to reach USD 64 billion by 2037, registering around 15.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of solar EPC is assessed at USD 10.6 billion.The growth of the market can be attributed to growing adoption of pet all around the globe. In 2018, there were roughly 18 million dogs kept as pets in India. By the end of 2023, it was anticipated that the population of pet would exceed about 30 million. Cortisol levels, a hormone linked to stress, have been shown to drop and blood pressure to drop when people interact with animals. Additional research has revealed that animals could improve the mood, lessen loneliness, and increase feelings of social support. Hence, this could the major factor for the pet adoption growth.

Furthermore, people are becoming more aware of the importance of pet health. According to psychologists, a variety of factors, including sociocultural norms, religious convictions, personality traits, and early experiences, might have an effect on our emotions toward animals. Researchers have also proposed a genetic component to compassion for animals. Hence, owing to this, their concern for the wellbeing of the pet has become priority, which would further boost the demand for various pet tech products. Further, there has been a growing spread of disease among pets, which has also increased concern for pet health. Hence, the demand for examination is growing, which is also estimated to boost the market’s growth of pet tech.