Pet Services Market Size Worth $50.1 Billion by 2030 at CAGR of 9.1%: Grand View Research, Inc. – PR Newswire
SAN FRANCISCO, May 11, 2022 /PRNewswire/ — The global pet services market size is expected to reach USD 50.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.1% from 2022 to 2030. The key factors driving the market include an increasing number of pet owners and spending on pets. As per FEDIAF’s 2020 report, 33% of or 88 million European households own a pet. This number is anticipated to increase owing to the declining human birth rate in key markets, increasing disposable income, and pet humanization.
Key Insights & Findings from the report:
- An increase in the number of pet owners and increased spending on pets are the key factors contributing to the market growth.
- The dogs pet type segment dominated the market in 2021 owing to the increasing pet ownership, expenditure on pets, pet humanization, and premiumization of pet products and services. Other factors include a rise in nuclear households, the declining birth rate in key markets, and increasing adoption of pet insurance.
- The pet boarding service type segment held the largest revenue share in 2021. The pet grooming segment is expected to register the highest CAGR over the forecast period. The key factor expected to drive the segment includes the return-to-work trend post-COVID leading pet parents to choose pet sitting, pet day-care, and overnight boarding services.
- The commercial facilities delivery channel segment held the largest revenue share of over 55.0% in 2021. The enormous number of commercial facilities providing pet care, the great range of service portfolios, and the use of omnichannel sales and marketing tactics are the main reasons for this significant share.
Read 130-page market research report, “Pet Services Market Size, Share & Trends Analysis Report By Pet Type (Dogs, Cats), By Service Type (Pet Boarding, Pet Grooming), By Delivery Channel, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Pet Services Market Growth & Trends
The pet services business decreased as a result of the COVID-19 epidemic, notably in 2020. This negative impact is primarily due to the closure of pet services and restricted access to them as a result of social distancing norms and lockdowns. At the start of the epidemic, key players witnessed a significant drop in appointments and payment volume as per PocketSuite- a mobile-first, business management app for pet service providers.
However, the market recovered gradually in 2021. For instance, as per the data published by the American Pet Products Association (APPA), pet parents in the U.S. spent about USD 9.5 billion on services like boarding, grooming, insurance, training, pet sitting, and pet walking in 2020, up 3.9% from 2019. People stayed largely at home and took good care of their pets due to the recurrent lockdowns. This boosted the demand for pet services and products, resulting in significant market growth.
Furthermore, demand for pet grooming among pet owners will have a favorable impact on the market and contribute significantly to its growth throughout the forecast period. Pet owners, particularly the wealthy, place a high value on displaying their lifestyles by purchasing comfortable and luxury things for their pets. Many market competitors are responding by launching a slew of new grooming and accessory goods. Pet sitting, grooming, traveling, training, pet hotels, and customized subscription boxes for pets are among the pet services available.
Pet Services Market Segmentation
Grand View Research has segmented the global pet services market based on pet type, service type, delivery channel, and region:
Pet Services Market – Pet Type Outlook (Revenue, USD Million, 2017 – 2030)
- Small Breeds
- Medium Breeds
- Large Breeds
- Others (Exotics, Small mammals, Birds, etc.)
Pet Services Market – Service Type Outlook (Revenue, USD Million, 2017 – 2030)
- Pet Boarding
- Long term
- Short term
- Pet Training
- Pet Grooming
- Pet Transportation
- Pet Walking
- Others (Pet finding, Portrait & Photography, Poop Scooping, etc.)
Pet Services Market – Delivery Channel Outlook (Revenue, USD Million, 2017 – 2030)
- Commercial Facilities
- Mobile/ Outdoors
- Others (At-home, Online, etc.)
Pet Services Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
List of Key Players in Pet Services Market
- A Place for Rover, Inc.
- Pets at Home, Inc.
- Wag Labs, Inc.
- Highland Canine Training, LLC
- Dogtopia Enterprises
- Pooch Dog SPA
- American Pet Resort, LLC
- Pawz and Company
- AirPets International
- Paradise 4 Paws LLC
Check out more related studies published by Grand View Research:
- Pet Meal Kit Delivery Services Market – The global pet meal kit delivery services market size is expected to reach USD 5.20 billion by 2028, registering a CAGR of 15.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness among pet owners related to adverse effects of nutrition deficiency in pets, coupled with their increased spending on pet food is expected to drive market demand across the globe over the forecasted period.
- Pet Furniture Market – The global pet furniture market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 5.2% over the forecast period. Rising spending on domestic animal, along with rapid expansion of multi-utility furniture product forms, is expected to remain the key driving factor.
- Pet Obesity Management Market – The global pet obesity management market size is expected to reach USD 1.04 billion by 2026 registering a CAGR of 6.8%, according to a new report by Grand View Research, Inc. Growing cases of pet obesity is expected to drive the market over the forecast period.
Browse through Grand View Research’s Animal Health Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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