The market survey by FMI indicates that the net value of the worldwide pet daycare business reached nearly USD 3.74 billion in 2022. The demand for pet daycare services is predicted to be around USD 4.06 billion in the current year, 2023. Furthermore, this sector is anticipated to increase at an astonishing CAGR of 8.1% from 2023 to 2033, concluding at USD 8.84 billion.
The pet daycare sector has grown to become a go-to resource for pet owners looking for specialized, safe, and entertaining services for their pet animals. It’s a definite sign that pet owners all across the world are realizing how crucial it is to provide them with the best care and enrichment. Moreover, pet owners are particularly looking for reputable businesses to make sure their animals get the care, exercise, and socializing they require during the day as their schedules get busier.
The services provided by pet daycare facilities include training, playing, grooming, and even specialty activities catered to the individual requirements of each pet. So, to make sure their furry friends receive the greatest care possible, pet owners are now spending more on upscale daycare facilities for them. Also, the role of pet daycare services in lowering behavioral concerns and enhancing general physical and emotional well-being for dogs is fueling this trend.
The increased humanization of pets has significantly influenced the global demand for pet daycare services. The welfare and happiness of pets are of the highest significance as they are becoming more and more regarded as family members. Finally, as more people and families acquire pets, there can be an increasing demand for pet daycare services in the coming days.
Key Takeaways from the Pet Daycare Market Study Report
- North America and Europe have a sizable pet ownership population, a strong pet care culture, and a willingness to spend money on top-notch services. According to FMI, they contributed nearly 39.4% and 28.3% of the global market share in the year 2022.
- The adoption of pet daycare services in the United States is higher as it alone contributed to nearly 35.5% of the global revenue in 2022.
- In Europe, Germany is performing better, having some leading market players in this sector, and held 8.6% of the global market share in 2022. However, the demand for pet daycare services in the United Kingdom is expected to grow at a faster rate of 7.2% through 2033.
- With increased pet ownership rates, urbanization, and a growing middle class, the Asia Pacific is quickly becoming a lucrative region for pet daycare businesses. China and India are particularly notable in this regard and are anticipated to register 9.6% and 10.3% CAGRs, respectively, through 2033.
Recent Developments by the Pet Daycare Service Providers
PACo, Camp Bow Wow, Dogtopia, Preppy Pet, Barkefellers, Country Paws Boarding, Camp Run-A-Mutt, Paradise 4 Paws, Preppy Pet, PetBacker, and PetSmart are some top players.
In February 2023, Rover, a well-known pet-sitting and dog-walking app, announced that it had acquired PetBacker Company. Through the acquisition of its Southeast Asian pet-sitting and dog-walking platform, Rover expects to be able to access new markets.
In April 2023, the American Kennel Club (AKC) announced that it was collaborating with Wag! to provide pet-sitting and dog-walking services to its members. The collaboration aims to make it simpler for AKC members to locate assistance for caring for their pet dogs or cats.
Complete Market Review: A Full Report Analysis
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.
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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