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Pet Daycare Market is Projected to Reach US$ 6.7 Billion by 2032, at a CAGR of 8% from 2022 to 2032: FMI

Tuesday, September 6, 2022 5:20 AM
Future Market Insights, Inc.
https://www.futuremarketinsights.com/

China is projected to witness the fastest CAGR of 13.8% during the forecast period. The regional market is anticipated to witness decent progress owing to the rapid economic development, which is expected to boost customer expenditure on pet daycare products.

NEWARK, DE / ACCESSWIRE / September 6, 2022 / As per a recent market analysis by Future Market Insights (FMI), the pet daycare care market is valued at US$ 3.7 Billion in 2022. Sales are projected to increase at an 8% CAGR during the forecast period, with the market size reaching US$ 6.7 Billion by 2032.

Future Market Insights, Inc., Tuesday, September 6, 2022, Press release picture

The rising pet humanization culture has increased the demand for pet daycare services. Humans have regarded their pets as their friends and family members. Also, they prefer to raise them with the best. With various pet organizations working on enhancing the lives of pets, governments are also spending on animal well-being.

Moreover, there have been rising cases of depression and anxiety in recent times. To deal with these psychologists believe that adopting pets is an effective way to deal with such psychological issues. With the increase in working hours, people hardly get time to take proper care of their pets. Therefore, they turn to pet daycare to avail their services. This is as well is expected to increase the demand for pet daycare.

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Moreover, certain conditions like obesity, health getting regularly affected, etc., because pets have a hard time. Pet owners often rely on pet daycare specialists to deal with the above situations effectively.

Another vital factor that has positively impacted the pet daycare market trends is the increase in disposable income. A decade back, availing of this facility was something that pet owners had to ponder upon unless it was a necessity.

Thus, based on the study conducted by the Future Market Insights research team, "Increase in the working hours of the pet owners along with upsurge in the disposable income is expected to drive the demand for pet daycare during the forecast period."

Key Takeaways

  • The valuation of pet daycare market as on 2022 is US$ 3.7 billion.
  • The expected valuation of pet daycare market in 2032 is US$ 6.7 billion.
  • The anticipated CAGR during the forecast period is 8%.
  • Based on the animal type, dogs occupy the largest chunk of market.
  • The Group plays sessions are the most preferred service type in the pet daycare market.
  • Based on the country wise insights, USA has the largest market share.
  • North America has the largest market share based on the regional insights.
  • Asia-Pacific is all set to be the fastest growing pet daycare market based on regional analysis.

Competitive Landscape

Some of the major companies are involved in several strategies such as collaborations, mergers, and acquisitions to maintain their market position. Moreover, they are expanding their presence and are opening many more pet care facilities across the globe.

For Instance:

  • In July 2022, Dogtopia announced that it would open second San Antonio location om city's far Northwest side.
  • In 2019, PetBacker started providing guilt-free tours to the pet parents which will arrange a fast online booking for cage-free pet boarding. This initiative was a collaboration with Uber and Airbnb.

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Key Companies Profiled

  • PACo LLC
  • Carey Pet and Home Care
  • Best Friends Pet Care Inc.
  • Camp Bow Wow
  • Dogtopia
  • Preppy Pet
  • Royvon Dog Training & Hotels
  • Barkefellers
  • Country Paws Boarding
  • Puss 'n' Boots Boarding Cattery
  • Urban Tails Pet Resort
  • Camp Run-A-Mutt
  • Pet Station Kennels & Cattery
  • Paradise 4 Paws LLC
  • Preppy Pet Franchises Inc.
  • Country Comfort Kennels
  • PetBacker
  • PetSmart Inc.

Market Segmentation

By Service Type:

  • Group Play Sessions
  • Exercise
  • Poolside DayCare
  • Grooming
  • Veterinary
  • Others

By Animal Type:

  • Dogs
  • Cats
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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What Are Some Of The Existing Trends In The Pet Daycare Market?

New products with improved abilities backed by research and innovation help key manufacturers involved in pet daycare to extend their global value. Smart technologies also contribute to the easy grooming of pets. They ensure pet security; hence, they are globally popular in the pet daycare market.

Various new technologies are appointment scheduling apps with veterinary doctors and applications that give orders to pets such as sitting, running, sleeping, eating, walking, etc. These advanced technologies also provide various fun activities and other entertainment for pets.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter's Analysis

To Continue TOC…        

Explore FMI's Extensive Ongoing Coverage on Consumer Product Domain 

Pet Toys Market Size: The pet toys market participants are currently engaged in leveraging their presence in both commercial and residential sectors that include households, pet hotels and day care centers.

Pet Furniture Market Value: The global pet furniture market is estimated to be valued at US$ 1.8 Bn in 2022 and is projected to reach US$ 3.1 Bn by 2032. The market is anticipated to exhibit growth at a CAGR of 5.8% from 2022 to 2032.

Pet Care Market Share: The global pet care market is set to enjoy a valuation of US$ 199 Bn in 2022, and further expand at a high CAGR of 6.1% to reach US$ 338.5 Bn by the year 2031.

Pet Care Ingredients Market Trends: The increasing awareness of ingredients used in pet food products has made pet owners more conscious while selecting food products for their pets. Pet owners prefer food products that are free from artificial colors and preservatives, as well as healthy for their pets.

Pet Carriers market Overview: As per newly released data by Future Market Insights (FMI), the pet carriers market is estimated to reach US$ 830.0 Mn in 2022. Sales of pet carriers are slated to increase at a 4% CAGR over the forecast period, pushing the market size to US$ 1.2 Bn by 2032.

Pet Car Seat Market Analysis: The pet car seat market is estimated to reach a valuation of ~US$ 2.8 Bn in 2022 and is projected to surpass US$ 5.0 Bn by 2032, at a CAGR of 4.7% from 2022 to 2032. Share of pet car seat market in the global pet care market is approximately ~3%-6%.

Pet Rugs Market Forecast: This Pet Rugs Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.

Pet Stain Remover and Odour Control Market Growth: The global pet stain remover and odour control market is estimated at US$ 8.4 Bn in 2022 and is projected to reach US$ 12.0 Bn by 2032, at a CAGR of 3.6% from 2022 to 2032. Share of the pet stain remover and odour control market in the global pet care market is approximately 3-5%.

Pet Monitoring Camera Market Outlook: The global pet monitoring camera market size is estimated at US$ 54.3 Mn in 2022 and is projected to reach US$ 93.5 Mn by 2032, exhibiting a CAGR of 5.5% between 2022 to 2032. Share of pet monitoring market in its parent market (pet care market) is approximately ~10-20%.

Pet Lodging Market Volume: The pet lodging market size is estimated to be valued at US$ 3.1 Billion in 2022 and is projected to reach US$ 5.0 Billion by 2032, expanding at a CAGR of 5% from 2022 to 2032. Share of pet lodging in its parent market (pet care market) is approximately ~1%-2%.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Future Market Insights Inc.         
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SOURCE: Future Market Insights, Inc.

Topic:
Company Update
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