Pet Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The pet service market is projected to grow at a CAGR of 5.2% during the forecast period (2021 - 2026). Although the year 2020 was not to be found very promising for all the industries but in the case of the pet service market it was a boon as due to repeated lockdowns people stayed mostly at home and they took good care of their pets, this stimulated the demand for pet services and products and encouraged significant growth in the pet service market. The popularity of pet fashion among pet owners will have a positive impact on the market and contribute to its growth significantly over the forecast period. Some pet owners, especially affluent ones, are very particular about representing their lifestyles by spending on comfortable and luxurious products for their pets. This is encouraging many market competitors to launch numerous products in the grooming and accessories segment. The pet services include pet sitting, pet grooming, pet traveling, pet training, pet hotels, and customized subscription boxes for the pet.

Scope of the Report

Pet Service is a component of the Pet Care market which includes services exclusively meant for taking care of pets like pet grooming, pet walking, pet sitting, pet transportation, pet boarding etc. These are the non-medical services, which focus on pets, include bathing and grooming, pet sitting or boarding, obedience training, pet health insurance, etc. The companies in the industry operate in B2C format. The Pet Service market is segmented by Pet type (Dog, Cat, and others), Service Type (Grooming, Pet Transportation, Pet Boarding, Pet Sitting, Pet Walking, and Others), and Geography (North America, Europe, Asia Pacific, South America, and Africa).

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Key Market Trends

Increase in number of pet owners and increased spending on pets

According to National Pet Owner's Survey (2019-2020) conducted by the American Pet Products Association (APPA), in the United States, almost 85.0 million households have a pet and over the last 30 years, pet ownership has gone from 56.0% to 68.0% of all households. The boom in pet care spending has resulted in a huge increase in products and services aimed toward affluent pet owners. The rising aging population in developed countries is driving the growth of the global pet daycare and lodging market as they are considered good companions for the elderly. With the growing ownership of pets, pet owners are increasingly spending on service packages with more options, including food and grooming options. The desire for improved pet care products and accessories such as pet furniture has increased owing to the growing importance of pets and services.

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