Taking the pulse of the pet furniture market

In line with the rest of the pet sector, an increase in pet ownership during 2020 and 2021 led to growth in the sales of pet-related products and accessories. Economic headwinds are now expected to impact some non-essential categories, including pet furniture, but players are always trying to innovate and bring new ideas to the market.

Temporary challenges

Pet owners are now spending more time with their pets, and becoming more attuned to their health and comfort needs when it comes to furniture.

Fortune Business Insights valued the global pet furniture market at $3.61 billion (€3.38B) in 2021. It forecasted annual growth of 5.9% for the coming years, from $3.81 billion (€3.57B) in 2022 to $5.70 billion (€5.34B) by 2029. But many believe that despite the segment’s overall good performance, the broader category of hard goods and supplies for pets is having a tough year in terms of growth, although this should just be temporary.

“The sector had an excellent 2 years during the pandemic, but 2021 and 2022 have been more challenging. I think we could see another slower year before getting back to what we would expect, which is positive growth in this category over the longer term,” says Lauren DeVestern, Managing Director and Partner at L.E.K. Consulting.

Driving factors

Inflation poses a challenge to the market, with some pet owners having to cut back on spending. As pet furniture represents bigger ticket items that are generally built to last, this is not something that owners need to often replace. People may have to make choices about how to spend their money as prices rise, and some will concentrate on food and health services for their pets.

There are a few driving factors though, that will ensure the market continues to grow despite this temporary slow period:

1. Product innovation

Increased awareness of pet health and comfort, the result of more meaningful pet-pet parent interaction during the pandemic, has led to innovations that have driven up price points. These include items like temperature-controlled bedding – with products that can even be controlled from an app – and orthopedic memory foam mattresses. Some owners are looking for furniture made from chew-proof and waterproof materials, which are also more costly.

2. Contemporary and multi-functional

There is a growing trend for pet furniture that blends into contemporary home design. And a strong preference for furniture which is multi-functional and therefore space-saving. Traditional cat scratching posts and dog crates are being replaced by more aesthetically pleasing designs that complement modern interiors. For example, Danish start-up SØde has Nordic-designed cat furniture, featuring a multi-functional stool, cat house and scratching post all in one. And Fable Pets has revolutionized the traditional dog crate with a crate made from bent wood that is designed to function as a side table too.

3. Personalization

Another important factor in boosting pet furniture sales is catering for customer preferences. A choice of styles, designer prints, premium fabrics, colors and sizes enables pet owners to personalize their pet’s furniture to suit their own tastes, as well as to ensure optimal comfort for their individual pet.