Press release
Global Pet Sitting Market to Reach US$ 6.10 Billion By 2032
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Global Pet Sitting Market Key Takeaways
- By Pet Type: The dog segment is projected to hold a significant share of the pet sitting market, driven by the strong bond between dogs and their owners.
- By service, care visits account for the majority of revenue in the pet sitting service segment. This is mainly because it offers reassurance to pet owners concerned about leaving their pets alone during long trips or vacations.
- North America dominates the market, with a significant share attributed to high pet ownership and a strong demand for professional pet care services.
- Asia Pacific is expected to experience substantial growth, driven by rapid urbanization, rising disposable incomes, and increasing pet adoption in countries like China and India.
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Rising Pet Ownership and Affluence are Boost Demand
A new report by Coherent Market Insights outlines significant trends pet sitting market. Rising number of pet owners, Rising affluence and humanization of pets and rising dual-income fuels demand for pet sitting market.
Opportunities for Growth
Live pet monitoring through cameras presents a significant opportunity to revolutionize the pet sitting industry. As flexible work arrangements and longer travel periods become more common, demand for services ensuring pets' well-being at home is increasing. Pet cameras enable sitters to monitor pets remotely, ensuring they are comfortable, safe, and well-cared for with food, water, walks, and playtime. This technology enhances owner trust, making them more likely to use sitters for longer or last-minute bookings without disrupting their pets' routine.
Rising Costs and High service charges in Pet Sitting
High service charges are a significant barrier to the growth of the pet sitting market. Many pet owners are reluctant to use paid services due to the high costs. While pet sitting provides convenience and peace of mind, the personalized and labour-intensive nature of the service leads to high fees. Pet sitters often charge hourly rates, as well as additional fees for initial meetings and minimum hour requirements. For busy families with multiple pets, these costs can become prohibitively expensive.
Emerging Market Trend:
Technology Integration: Pet cams and live monitoring systems are becoming increasingly popular, allowing pet owners to monitor their pets in real time. This trend increases client confidence and trust in pet sitters, particularly for long-term or last-minute arrangements. The global monitoring tools market size was valued at USD 26.05 billion in 2022 and is expected to grow at a CAGR of 18.0% from 2023 to 2030.
Analyst View
The pet sitting market is experiencing significant growth, fuelled by increasing pet ownership, rising disposable incomes, and evolving lifestyles, including more dual-income households. The growing demand for personalized pet care services is further supported by the humanization of pets and the need for pet owners to balance work and personal life. However, challenges such as high service charges and a lack of standardization in service quality could impact broader adoption said senior analyst Ghanshyam Shrisvastava
Key Players:
A Place for Rover, Inc.
Pets at Home, Inc.
Wag! Group Co.
Pet Backer
Care guide Inc.
Fetch! Pet Care
Holidog.com
PetSmart LLC
Dog Topia Enterprises
Swifto Inc.
Mad Paws
Recent Developments:
In February 2022, Petco partnered with Rover.com to launch a new program. This alliance intends to link Petco consumers with pet sitting, boarding, and dog walking services directly through petco.com. The collaboration expands Petco's entire ecosystem of pet health and wellness options, which include products, training, grooming, and veterinary care.
In December 2023, Vets for Pets (Pets at Home) added eight new Joint Venture Partners (JVPs). This enables doctors, Registered Veterinary Nurses (RVNs), and practice managers to maintain control over their practices while benefiting from Vets for Pets' support and guidance.
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About Us:
Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.
Contact Us:
Mr. Raj Shah Senior Client Partner - Business Development Coherent Market Insights
Phone:
US: + 12524771362
UK: +442039578553
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com/
Media Contact
Company Name: Coherent Market Insights
Contact Person: : Mr. Raj Shah
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Website: https://www.coherentmarketinsights.com/
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