Pet Services Market: Overview
The pet services market is gaining traction in the current scenario. The increasing number of pet owners across the world has created immense scope for the growth of the pet services market. According to the studies conducted globally, the number of people owning pets such as cats and dogs is increasing rapidly. All these aspects are likely to influence the growth of the pet services market during the forecast period of 2021-2031.
The pet services market can be segmented into dogs, cats, and others based on type. Based on the service type the market can be divided into pet boarding, pet grooming, pet training, pet walking, pet transportation, and others. The delivery channel comprises mobile/outdoors, commercial facilities, and others.
The team of experts at TMR Research has conducted thorough research and is in the process of putting forth the report which throws light on various parameters that affect the market growth. The key findings are based on the market scenario of the pet services market. It also includes the competitive landscape, trends, opportunities, recent developments, regional dynamics, and revenue generation. The deep insights provided after the exhaustive research help the stakeholders and CXOs to make proper decisions regarding investments and plan strategies accordingly. Furthermore, the COVID-19 impact is also included in this all-important report.
Pet Services Market: Trends and Opportunities
The penetration of subscription models and operational efficiency of the pet care service providers and the inclination of consumers toward long-term subscription plans may prove to be a game-changer for the growth of the market.
Pet ownership contributes to the physical and mental well-being of individuals according to various scientific findings. This aspect may open profitable avenues in the pet services market. The onset of the COVID-19 pandemic affected the entire world. The nationwide lockdowns were imposed to avoid the spread. Hence, the pet owners came closer to their pets during the homestays. Also, the social life of people has been affected by the pandemic. The urge for companionship has led to rising pet ownership across the globe which ultimately may boost the growth of the pet services market.
The rise in the disposable income of individuals in developing countries has led to an increase in spending on pet services. Thus, the demand for training services, hostels, pet food, daycare, and pet resorts has increased.
Pet Services Market: Competitive Analysis
The consumer preference for pet ownership and the need to provide efficient pet care services has led to advancements in the pet services market. Research and development activities to develop advanced pet services are also boosting the growth rate of the pet services market. The increasing use of social media to promote pet services also acts as a growth generator for the pet services market. The urban population takes the help of online research to choose pet services. The promotional activities and marketing campaigns have created awareness among pet owners across the globe about various pet care services available in the market. Furthermore, the strategic collaborations of market players with various pet care service providers may act as a growth propeller for the market.
Key players involved in the pet services market are Pets at Home Inc., Highland Canine Training LLC., Pooch Dog SPA, AirPets International, American Pet resort LLC, and air Pets International.
Pet Services Market: Regional Prospects
The global pet services market can be segmented into Europe, North America, Latin America, Asia Pacific, Middle East, and Africa. The global pet services market may experience significant growth in North America due to the rising pet ownership owing to high spending on pet services which is likely to boost the growth of the pet care services market. Asia Pacific also may generate good revenue for the global market owing to the increasing pet population and rising demand for pet care services in this region.
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