Pet Hotels Market is Estimated to Hit a Revenue of US$ 9. 7 Bn by year 2032 end, Up from US$ 4. 4 Bn Likely to be Achieved in the Year 2022 | Future Market Insights, Inc. – GlobeNewswire

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NEWARK, Del, Nov. 02, 2022 (GLOBE NEWSWIRE) — The global pet hotel market is predicted to reach a value of US$ 9679. 1 Mn by 2032, with sales growing at a robust CAGR of 8. 4% from 2022 to 2032. Predicted to reach an estimated US$ 4320. 6 Mn in 2022, the target market is fueled by shifting and prevailing trends for premium pet services. The growing awareness of veterinary health further aids the growth of the pet hotel market during the forecast period.

The increasing popularity associated with pet daycare services, rising pet humanization, along with a fast-paced lifestyle and unavoidable work commitments of pet owners is expected to act as a major development driver for the pet hotel market. In addition , more and more pet owners are inclined to spend more on the welfare of pets which ultimately increases the overall expenditure with regard to animal care, including services like pet sitting. This will likely further propel the growth of the target market.

The emergence of evolved, cost-effective, and personalized services, that includes a wide range of services such as grooming, pet entertainment and others, has resulted in the rise, the establishment and adoption of pet hotels. Similarly, the chance regarding pet parents to be able to customize the experience of their pets in these hotels is a highly appealing factor which invites a larger consumer base.  

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Again, increasing impact of social media and e-commerce platforms as well as the rise in dog ownership, particularly amongst millennials and Generation Zs, will be predicted to supplement the pet hotels market growth. All of these considerations, in addition to others, will augment the global sales of the pet hotels market during the forecast period.

“Rising pet ownerships coupled with increasing pet humanization efforts are expected to supplement the global development of the pet hotels marketplace over the forecast period, ” says an FMI analyst.    

Key Takeaways:

  • High costs and fear of viruses may stymie the market growth.
  • Rapid urbanization coupled with an upsurge in nuclear families fuels the target market in the Asia Pacific region.
  • The pet hotel market in North America will hold about 58% of the revenue share.
  • Rise in the number of family pet sitters will drive your pet hotel market growth inside China.
  • Start-ups in this market are growing their service offerings.

Competitive Landscape 

D Pet Hotels, Critterati, Camp Bow Wow, Posh Pet Hotel, The Barkley, Best Friend Pet Care, Old Towne Pet Resort, The particular Ings Luxury Cat Hotels, Wag Hotels, and Pacific Pet Resort, among others are some of the major players in the pet hotels market profiled in the full version from the report.

Leading market players are focusing on adopting new and developed technologies to enhance their facilities and provide better service. Offering a wide range of solutions, upgrading their product offerings, and expanding their operations are some strategies used by these market participants. These firms also employ tactics like mergers, acquisitions, and partnerships to gain a competitive edge.

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More Insights into Pet Hotels Market Report

In its latest report, FMI offers an unbiased analysis of the global pet hotels market, providing historical data from 2016 to 2021 and forecast statistics intended for 2022 to 2032. To understand the global market potential, growth, and scope, the market is usually segmented on the basis of pet type (dog hotels, cat resorts, other pets), hotel kind (economic, mid-range, luxury), global pet hotels (small & medium, large), the basis associated with ratings (< 3 stars, 3 & above), booking mode (offline, phone, online), and region.

According to the latest FMI reports, based on region, the pet hotel market within the North America will present remarkable development during 2022-2032. Increasing pet ownership, particularly in the U. S., is driving the regional market growth. Thus, the pet hotel market in North America is expected to account for about 58% of the overall revenue share. Greater influence of social media along with dog owners’ desire for premium providers for their animal companions will certainly further aid the target market growth in this region.

The pet resort market in the Asia Pacific cycles region, too, will demonstrate notable growth over the next few years. A rise in nuclear families, swift urbanization, availability of personalized pet services, especially in Australia and Japan, and a surge in number of pet sitters due to a rise in disposable income in countries like China and India is driving the pet hotels market growth in the Asia Pacific area during the forecast period.

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Key Segments Profiled In The Pet Hotels Market Survey

By Pet Type:

  • Dog Hotels
  • Cat Hotels
  • Other Pets

By Hotel Type:

  • Economic
  • Mid-range
  • Luxury

By Global Pet Hotels:

  • Small & Medium
  • Large

By Basis of Ratings:

  • < 3 Stars
  • 3 & Above

By Booking Mode:

  • Offline
  • Phone
  • Online

Table of Content

1 . Executive Summary

    1 . 1 . Worldwide Market Outlook

    1 . 2 . Demand-side Trends

    1 . a few. Supply-side Trends

    1 . 4. Technology Roadmap Analysis

    one 5. Analysis and Recommendations

2 . Market Overview

    2 . 1 . Market Coverage / Taxonomy

    second . 2 . Market Definition or Scope / Limitations

3. Market Background

    3. 1 ) Market Dynamics

        3. 1 . 1 . Drivers

        3. one 2 . Restraints

        3. 1 ) 3. Opportunity

        3. 1 . 4. Trends

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About Future Marketplace Insights, Inc.

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