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A10555 | Pages: 272 | Charts: 61 | Tables: 108 |
The global pet boarding market was valued at $19.5 billion in 2021, and is projected to reach $35.8 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031
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Growth in trend of owning a companion animal such as dogs, birds, fish, and cats is gaining popularity, owing to factors such as physical and mental health related benefits and improved social status. Owning a pet can reduce stress, boost confidence, keeps heart healthy, and help control blood pressure and cholesterol levels, which are scientifically proven facts that encourage people to keep pets. Hence, increase in adoption of pets is a vital factor that propels growth of the pet boarding industry.
Furthermore, rise in trend of pet humanization, rapid urbanization, shift toward nuclear families, increase in disposable income, and surge in awareness related to health benefits of owning pets are several important factors that result in rise in number of pet adoption, which propels the growth of the pet boarding market during the forecast period. Pet owners send their pets to professional pet boarding services so that they are certain that their pets are well cared and supervised while they are busy or away from home. Clean water, meals, daily playtime, and bedding are all essentials provided to pets in boarding services. Staff supervises pets and usually have opportunity to participate in indoor and outdoor activities during boarding. Thus, these factors are fuel demand for the pet boarding market. In addition, owing rise in awareness regarding animal health and wellness, pet owners are considering their pets as family members and treating them like one. Such factors propel growth of the pet boarding market.
Furthermore, working population is a key driver of this market, owing to their busy schedules and days out at work. It is a daily routine for many pet owners that, they drop their pets at a boarding facility on the way to their office route. Thus, these factors are driving the demand for the pet boarding market. COVID-19 has a negative impact on the pet boarding market, especially during the peak spread of COVID-19 in 2020. Due to stringent lockdown, social distancing, and closure of offices, people stayed home with their family and pet.
The pet boarding market is segmented on the basis of pet type, service, and region. On the basis of pet type, the market is categorized into dogs, cats, and others. By service it is segregated into group play sessions, exercise, poolside daycare, pet sitting, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, the Netherlands, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Egypt, South Africa, the United Arab Emirates, and rest of LAMEA).
By pet type, the dog segment was valued at $11,166.3 million in 2021, and is expected to reach $ 20,412.4 million by 2031 at a CAGR of 6.3%. Dogs are the most popular pets among pet owners around the world. They are one of the most common domestic animals. They are also listed as one of the friendliest pets that are owned by people and are usually described as man's best companions as they generously offer their friendship and company to people. Grooming, training, and group play activities are important for dogs, which are expected to fuel demand for pet boarding during the forecast period.
[PETTYPEGRAPH]
On the basis of service the exercise segment is expected to grow at a CAGR of 6.6% during the forecast period. Exercising keeps dogs healthy, while reducing behavioral problems such as excessive licking, barking, chewing, digging, and other anxiety-related behaviors. It also helps build trust and confidence among pets for their owners and environment. Hence, pet owners ask for exercise activity sessions at boarding facilities, which are expected to fuel growth of the exercise segment in the global pet boarding market.
[SERVICESGRAPH]
Asia-Pacific is one of the most important and high potential regions for the pet care industry. Asia-Pacific has diverse countries, such as Australia and Japan, which have reached a maturity stage and has emerging markets such as China and India. The pet care market in Asia-Pacific is largely driven by rapid urbanization and rise in nuclear families. In many countries, owning a pet, focusing on them, and spending on their care are perceived as social status and sensitivity, which is further fuels the pet boarding market growth.
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Key players in the global market have adopted a variety of strategies to grow their pet boarding market share, boost their profitability, and stay competitive. Key players profiled in this report include Carey Petcare and Homecare, Best Friends Pet Care Inc., Camp Bow Wow, Dogtopia, Royvon, Barkefellers, Country Paws Boarding, Puss 'N' Boots Boarding Cattery, Urban Tails Pet Resort, and Pet Station Kennels & Cattery.
Key Market Segments
Key Market Players