Dublin, Aug. 19, 2020 (GLOBE NEWSWIRE) -- The "Pet Service Market - Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global pet service market is projected to grow at a CAGR of 5.2% during the forecast period (2020-2025).
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 travelling, pet training, pet hotels and customised subscription boxes for the pet.
Key Market Trends
Increase in Number of Pet Owners and Increased Spending on Pets
In USA almost 85 million households have a pet and over the last 30 years pet ownership has gone from 56% to 68% 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 global pet daycare and lodging market as they are considered as 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.
America Dominates the Pet Services Market
According to estimates of the American Pet Products Manufacturers Association, Americans spend USD 5.4 billion on pet grooming and boarding services in 2017. The U.S. and U.K. have long been the leaders of the world pet market. Another growing force in the pet market is Russia, which has witnessed dramatic growth in the pet industry. With more Russians taking on the responsibility of pet ownership, concern for their wellbeing is also rising. And that is having a big impact on how the country's pet industry has been shaping. Emerging markets are poised for dramatic growth in pet care. Dense urbanisation trends and small living spaces will change the types of pets that people own and the way they care for them.
Competitive Landscape
The market appears to be fragmented with the presence of many companies, enticed by lower start-up costs than maintaining a brick-and-mortar business, more groomers, pet travel services, pet waste removal and funeraray/bereavement services are getting into this mobile grooming on their own or through franchises. Mobile groomers typically advertise through veterinary offices and local pet shops. More companies/start ups are tapping into this fertile area.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 By Pet type
5.1.1 Dog
5.1.2 Cat
5.1.3 Others
5.2 Bybservice Type
5.2.1 Grooming
5.2.2 Pet Transportation
5.2.3 Pet Boarding
5.2.4 Pet sitting
5.2.5 Pet walking
5.2.6 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United Statse
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Rest of Asia Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 South Africa
5.3.4.3 Other countries
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 PetBacker
6.3.2 Petsfolio
6.3.3 AirPets Relocation Services Pvt. Ltd.
6.3.4 Global Pet Relocation
6.3.5 PetSmart Inc.
6.3.6 Anvis Inc.
6.3.7 Virbac
6.3.8 Barking Mad
6.3.9 We Love Pets
6.3.10 My Best Friend Dog Care
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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