Weekly Editorial

Is Pet Furniture the Industry’s Newest Vertical Market?

Written By Rob Kirkbride, Editor-in-chief, OI Publications • February 20, 2024

The Insider_Weekly_editorial_2.19.24

As you might imagine, I receive many press releases during the course of a week, but the headline “Global Pet Furniture Market Revenue is Estimated to Reach $6.13 billion by 2030, Growing at a CAGR of 6.1%” got my attention.

Throughout my life, I’m grateful that our family has had: four dogs, three parakeets, two ferrets, one chinchilla, a henhouse filled with chickens and countless (often short lived) goldfish. Sorry cat lovers. I’m not sure if that reaches the level of a menagerie, but it’s probably close. I can say that we have never purchased furniture for our pets, though many of them made themselves at home on our furniture.

The press release goes on to say that “Manufacturing furniture meant for animal use became widespread in the early 21st century. Many commonplace items are available, including pet beds, doghouses, hammocks, dog coolers, cat trees, parrot tents, and expensive play equipment. Also, manufacturers in this industry focus on creating chic, functional products that cater to pet owners’ needs. The design-driven approach they have been using can also complement the pet owner’s home decor.”

What shocked me was the market value of pet furniture. According to Straits Research, the total addressable market for pet furniture was valued at $3.6 billion in 2021 and it is rapidly growing.

I also learned this week that our industry is responding to this surge in pet furniture. HAY, the playful brand that is part of MillerKnoll is launching HAY Dogs by Holly Golightly. The brand is promoting the line of “functional accessories in curated colors and cheerful, visually appealing designs. Suitable for all dog breeds and sizes, the range includes collars, leashes, toys, beds, bowls, and scarves that express both an owner’s and companion’s personality.”

HAY Dogs came about when Mette Hay asked her friend Barbara Maj Husted Werner – owner of the brand, curated fashion and interiors boutique Holly Golightly – to design a series of original and colorful dog accessories on one of their joint dog walks.

”It’s always interesting to dive into a market where we feel that we have a new take to offer, and we felt HAY could bring some color to the game,” said Mette Hay, founder and creative director of accessories.

”Products for pets are often very neutral and kept in earthy-colored tones, but I liked the idea of it being a visible touch of color instead of something purely utilitarian.”

Barbara Maj Husted Werner, an avid dog-lover, quickly came up with the design for a dog bed and a color palette. ”It was important that the color work for all types of dogs — male and female, different breeds, different sizes — to fit any dog character,” she said.

According to the market report on pet furniture, global pet furniture producers are making significant research and development investments into new products, such as intelligent pet beds with climate control monitor your pet’s activity, rest, and weight. The demand for temperature-controlled, orthopedic, and electrically heated beds has surged, the report claims.

And in October 2022, Nest Bedding launched natural pet beds to increase its customer base and expand its market penetration. In November 2022, the newest division of the Parisian house under Demna’s creative direction, Balenciaga Objects, promised a wide range of home accessories, including pet wear, fragrance, limited-edition collectibles, and custom furniture.

A lot of people have told me this industry is going to the dogs. Maybe we’ve been barking up the wrong tree all along…

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