Pet Service Market Size Expected to Reach USD 42 Billion, Growing at a CAGR of 8% by 2030

Pet Service Market Size Expected to Reach USD 42 Billion, Growing at a CAGR of 8% by 2030

Introduction:

The Pet Service Market is experiencing rapid expansion, driven by increasing pet adoption rates and a heightened focus on pet health and well-being.

According to analysts at Next Move Strategy Consulting, the Pet Service Market size is predicted to reach USD 42 billion with a CAGR of 8% by 2030.

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The Pet Service Market's growth is primarily fueled by rising pet ownership, advancements in pet care technologies, and the increasing availability of online platforms for pet service booking.

Growth Drivers:

Key Market Drivers

  1. Surge in Pet Adoption: The increasing number of pet adoptions globally is significantly contributing to the growth of the pet service market. In 2023 alone, nearly 4.8 million pets, including 2 million dogs and 2.1 million cats, were adopted, leading to a higher demand for professional pet services.
  2. Rising Awareness of Pet Health: Pet owners are becoming more knowledgeable about the importance of proper care and grooming. This shift in mindset is driving demand for specialized pet services that ensure pets' health and happiness.
  3. Technological Advancements: The proliferation of online platforms and mobile apps for booking pet services is enhancing convenience for pet owners, contributing to market growth.
  4. Expansion of Pet Service Offerings: Services such as pet walking, pet boarding, and veterinary care are expanding to meet the needs of a growing pet-owning population.

Challenges:

  • High Costs: Professional pet services can be expensive, making it challenging for some pet owners to access quality care.
  • Service Quality Variability: The variability in the quality and reliability of service providers is another hurdle that needs addressing.

Opportunities:

  • Remote and Virtual Pet Services: The growing adoption of telehealth and virtual consultations for pets presents a new opportunity for market expansion, particularly in regions where access to physical services may be limited.
  • Natural and Organic Pet Products: The increasing demand for natural and organic pet care products is expected to open new avenues for growth in the pet service industry.

Key Industry Segments: By Pet Type

  • Dogs
  • Cats
  • Others

By Service Type

  • Grooming
  • Pet Transportation
  • Pet Boarding
  • Pet Sitting
  • Pet Walking
  • Others

By Region

  • North America:
    • The U.S.
    • Canada
    • Mexico
  • Europe:
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific:
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Rest of World:
    • Latin America
    • Middle East
    • Africa

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Geographical Analysis:

North America holds a dominant share of the Pet Service Market, owing to high pet adoption rates in the U.S. and Canada. According to the 2022-23 National Pet Owner's Survey, approximately 90.5 million households in the U.S. own at least one pet. In contrast, the Asia-Pacific region is showing promising growth, particularly due to the rising awareness of pet welfare and government initiatives to promote pet adoption.

For example, Singapore’s Adoption and Rehoming of Dogs (ADORE) scheme is driving pet adoption, while India’s burgeoning animal healthcare industry is contributing to the growth of the pet services sector.

Competitive Landscape: Key players in the Pet Service Market include:

  • Cargill, Inc.
  • Heads Up for Tails
  • Village Pet Care
  • Mars, Incorporated
  • Nestlé S.A.
  • Spectrum Brands, Inc.
  • Wag Walking
  • The J.M. Smucker Company
  • Unicharm Corporation
  • Hill’s Pet Nutrition, Inc.

For instance, in 2023, Cargill launched ZooniVet, a digital platform providing pet owners with convenient access to veterinary care and nutritional information. Heads Up for Tails also unveiled its new active pet lifestyle brand Dash Dog to meet the rising demand for high-quality, stylish products for dogs.

Conclusion:

The Pet Service Market is experiencing dynamic growth, driven by rising pet adoption, increasing awareness of pet health, and the rise of digital platforms offering convenience and accessibility. The market is set for sustained expansion, with North America leading in adoption rates and Asia-Pacific emerging as a key growth region. Despite challenges such as high service costs and varying service quality, innovative solutions and digital transformation present significant opportunities for market players.

For more information, please contact:

Next Move Strategy Consulting

E-Mail: info@nextmsc.com

Direct: +1-217-650-7991

Website: www.nextmsc.com

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About Next Move Strategy Consulting: 

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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