Tue, 06 Dec 2022

The pet daycare care market size 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.

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.

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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.

Key Companies Profiled

  • PACo LLC
  • Carey Pet and Home Care
  • Best Friends Pet Care Inc.
  • Camp Bow Wow
  • Dogtopia
  • Preppy Pet
  • Paradise 4 Paws LLC
  • Preppy Pet Franchises Inc.
  • Country Comfort Kennels
  • PetBacker
  • PetSmart Inc.

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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.

Explore FMI's Extensive ongoing Coverage on Consumer Product Domain

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Pet Oral Care Market Share: The overall pet oral care market share is projected to reach US$ 16,711 Million by 2032, following a moderate CAGR of 3.5% from 2022 to 2032

Pet Bathing Supplies Market Trends: The global pet bathing supplies market is projected to have an average-paced CAGR of 6.2% during the forecast period

Pet Carriers Market Sales: The global pet carriers market is projected to have a slow-paced CAGR of 4% during the forecast period

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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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The post Pet Daycare Market Will Hold a Revenue of US$ 3.7 Bn in 2022 & is Expected to Cross US$ 6.7 Bn at A Moderate CAGR of 8% During The Forecast Period of 2022-32 appeared first on Future Market Insights.

Original Source of the original story >> Pet Daycare Market Will Hold a Revenue of US$ 3.7 Bn in 2022 & is Expected to Cross US$ 6.7 Bn at A Moderate CAGR of 8% During The Forecast Period of 2022-32

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