Pet Services Market size is expected to reach USD 50.1 billion by 2030

 Pet Services Industry Overview

The global pet services market size was valued at USD 23.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030.

The increasing population of companion animals, pet humanization, strategies implemented by key companies, and increasing expenditure on pets are some of the key drivers of this market. For instance, in February 2022, Petco Health and Wellness Company, Inc. partnered with Rover- an industry online marketplace for pet services, to offer Petco customers access to pet boarding, sitting, and dog walking services. This enabled Rover to reach around 130,000 of Petco’s Vital Care subscription pet parents.

Gather more insights about the market drivers, restrains and growth of the Global Pet Services Market

 

The COVID-19 pandemic resulted in a decline in the market, especially in 2020. This adverse impact is mainly attributed to the closure of and restricted access to pet services due to social distancing norms and lockdowns. For instance, 85% of Pet Sitters International members experienced over 50% decrease in business at the peak of the outbreak.Pets at Home, Inc., a U.K. based company, temporarily closed its grooming salons and reported about 29% decline in grooming revenues in 2020. In another survey by a Japanese pet insurance company - Anicom, expenditure on pet hotels and pet sitters was found to have decreased notably for both dogs and cats. Wag Labs, Inc. based in the U.S., too reported about 63% decline in gross bookings in 2020.

However, the demand recovered in 2021 as business activities resumed gradually. Pets at Home, Inc.’s groom rooms were able to offer welfare grooms during 2nd and 3rd lockdowns. The company reduced the price of its welfare grooms by an average of 7 pounds sterling (~ USD 9) depending on the dog size and breed. Rover- a leading pet services provider platform, reported a 75% surge in bookings in 2021. The company registered 4.2 million bookings out of which over 80% comprised repeat bookings. The company reported continued recovery in bookings ahead of return to travel, despite the impacts of COVID-19 variants. The company intends to expand internationally widening its regional presence in Europe, and further into Australia, New Zealand, and parts of Asia.

Some of the key drivers impacting the market include increased penetration of premium and subscription services, incorporation of data science within marketplace mechanics, operational efficiency, post-pandemic return to normal, and expansion of pet types and services offerings. For instance, premium services drive cross-selling to other service types, thus fueling the revenue growth. Premium subscribers also tend to opt for long-term plans that can increase customer loyalty and use of services. For example, 25% of Wag Labs’ premium subscribers select annual plans. The growing adoption of online channels for marketing as well as service delivery is anticipated to fuel the market growth. PetSmart LLC, for instance, offers virtual dog training services.

Browse through Grand View Research's Animal Health Industry Research Reports

  • Rabies Veterinary Vaccines Market: The global rabies veterinary vaccines market size was valued at USD 584.8 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030. 
  • Veterinary MRI Market: Veterinary MRI market is expected to witness lucrative growth over the forecast period. The market is primarily driven by factors such as the rising annual diagnostic imaging caseload in veterinary hospitals and clinics, the rising adoption of pet insurance, the increase in the number of training programs and courses for veterinary imaging, and innovations in veterinary radiology and software.  

 

Key Companies Profile

Some prominent players in the global pet services market include:  

  • A Place for Rover, Inc.
  • Pets at Home, Inc.
  • Wag Labs, Inc.
  • Highland Canine Training, LLC
  • Dogtopia Enterprises
  • Pooch Dog SPA
  • American Pet Resort, LLC
  • Pawz and Company
  • AirPets International
  • Paradise 4 Paws, LLC

 

Order a free sample PDF of Pet Services Market Intelligence Study, published by Grand View Research. 

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