Pet Boarding Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth by 2030

According to a new report published by Allied Market Research, titled, "Pet Boarding Market By Pet Type, By Services: Global Opportunity Analysis and Industry Forecast, 2021-2030". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

The pet boarding market was valued at $19.5 billion in 2021, and is estimated to reach $35.8 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Increase in awareness regarding veterinary health, change in demographic trends across developing countries, and growth in number of pet owners propel the market expansion. In addition, growth in trend for premium pet care services such as group play activities and training further fuel the industry growth. Rise in adoption of pets and ownership is expected to be a key factor to propel the market growth.

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One of the major drivers of the global pet boarding industry is growing awareness campaigns and promoting pet ownership by governments and organizations globally. Orphan pets are growing globally and some of them are taken care by pet shelters and NGOs that donate pets to owners who are willing to take ownership. Thus, the increasing working population and busy work schedules are further fueling the growth of the global pet boarding market.

The pet boarding market is segmented on the basis of pet type, service, and region.

By pet type, the dog segment was valued at $11,166.3 million in 2021, and is expected to reach $ 20,412.4 million by 2031 at a CAGR of 6.3%. Dogs are the most popular pets among pet owners around the world. They are one of the most common domestic animals. They are also listed as one of the friendliest pets that are owned by people and are usually described as man's best companions as they generously offer their friendship and company to people. Grooming, training, and group play activities are important for dogs, which are expected to fuel pet boarding market demand during the forecast period.

On the basis of service the exercise segment is expected to grow at a CAGR of 6.6% during the pet boarding market forecast period. Exercising keeps dogs healthy, while reducing behavioral problems such as excessive licking, barking, chewing, digging, and other anxiety-related behaviors. It also helps build trust and confidence among pets for their owners and environment. Hence, pet owners ask for exercise activity sessions at boarding facilities, which are expected to fuel growth of the exercise segment in the global pet boarding market.

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Asia-Pacific is one of the most important and high potential regions for the pet care industry. Asia-Pacific has diverse countries, such as Australia and Japan, which have reached a maturity stage and has emerging markets such as China and India. The pet care market in Asia-Pacific is largely driven by rapid urbanization and rise in nuclear families. In many countries, owning a pet, focusing on them, and spending on their care are perceived as social status and sensitivity, which is further fuels growth of the market.

Key players profiled in this report include Carey Petcare and Homecare, Best Friends Pet Care Inc., Camp Bow Wow, Dogtopia, Royvon, Barkefellers, Country Paws Boarding, Puss 'N' Boots Boarding Cattery, Urban Tails Pet Resort, and Pet Station Kennels & Cattery.

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Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pet boarding market analysis from 2021 to 2031 to identify the prevailing pet boarding market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the pet boarding market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global pet boarding market size.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

Key Finding of the Study

The pet boarding market size was valued at $19,452.7 million in 2021, and is estimated to reach $35,831.5 million by 2031, registering a CAGR of 6.4% from 2022 to 2031.
By pet type, the dog segment was valued at $11,166.3 million in 2021, and is estimated to reach $20,412.4 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $ 14,932.6 million by 2031, growing at a CAGR of 5.7% during the forecast period.

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