Pet Sitting Market Size Worth $5.0 Billion by 2027 | CAGR: 8.7%: Grand View Research, Inc.
15 Jul, 2020, 10:35 BST
SAN FRANCISCO, July 15, 2020 /PRNewswire/ -- The global pet sitting market size is anticipated to reach USD 5.0 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.7% from 2020 to 2027. A growing number of pet adoption across countries is helping boost the prominence of relative pet care services, such as pet sitting business. In addition, increasing spending of pet owners on various pet services owing to the high indulgence of millennial pet owners and high spending power has fueled the demand for pet sitting services.
Key suggestions from the report:
- The pet transportation application segment is expected to expand at the fastest CAGR of 9.1% from 2020 to 2027
- By pet type, the dog category held the largest share of 37.9%
- Asia Pacific is expected to expand at the fastest CAGR of 9.2% from 2020 to 2027.
Read 80 page research report with TOC on "Pet Sitting Market Size, Share & Trends Analysis Report By Application (Dog Care Visits, Dog Walking, Pet Transportation), By Pet Type (Dogs, Cats, Fish, Cage Pets), By Region, And Segment Forecasts, 2020 – 2027" at: https://www.grandviewresearch.com/industry-analysis/pet-sitting-market
Over the years, the pet market worldwide has been growing at a significant rate as many countries have witnessed a high rate of pet adoption and animal care spending. People are spending more on the welfare of pets as they view them as their family members and are willing to invest their money to maintain the health of the pets. This has led to an increase in the health expenditure for pet care. According to the American Pet Products Association (APPA), in the U.S., pet owners spent USD 16 million in 2016. A survey from the Consumer Expenditure (CE) estimates that from 1996 to 2012, the spending on pets has been increased by 60%.
Increased penetration of millennials in the pet parent category has fueled the demand for advanced pet care services at convenient and reliable factors. According to the American Pet Products Association, millennials represent the largest segment of pet owners for all pet types, particularly birds, small exotic animals, and saltwater fish. In addition, in June 2019, over 80% of pet owners among millennials and Generation Z own dogs, while 50% or less own cats. Moreover, the overall spending in the U.S. pet industry increased by 4.4% in 2018 from 2017. Thus, rising spending on pets and their welfare has expanded the scope of innovative and time-saving pet services for pet owners, such as pet sitting.
In terms of application, daycare visits held a dominant position in the market in 2019. Increasing the working population among both men and women across regions provides a substantial boost to market growth. For instance, according to American Pet Products Association's National Pet Owners Survey 2019-2020, there were 42.7 million households owning a pet cat and 63.4 million households owning pet dog in the U.S. Thus, owing to the busy schedule and speedy life of individuals, daycare visits for pets and animals are gaining huge traction.
Dogs emerged as the largest pet type segment with a revenue-based share of 37.9% in 2019. There are over 470 million dogs kept as pets across the globe, thus dogs emerged as the leading type of pet in 2018. For instance, according to the Insurance Information Institute, Inc., there were 63.4 million households in the U.S. owning pet dogs in 2019.
North America dominated the market with a revenue-based share of 43.1% in 2019. Increasing the prevalence of tech-savvy millennial pet owners is resulting in technological innovation in the pet sitting business. According to Packaged Facts, millennials accounted for 35% of all U.S. pet owners in 2018.
Grand View Research has segmented the global pet sitting market based on application, pet type and region:
- Pet Sitting Application Outlook (Revenue, USD Million, 2016 - 2027)
- Day Care Visits
- Dog Walking
- Pet Transportation
- Others
- Pet Sitting Pet Type Outlook (Revenue, USD Million, 2016 - 2027)
- Dogs
- Cats
- Fish
- Cage Pets
- Others
- Pet Sitting Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Europe
- Germany
- The U.K
- Asia Pacific
- Japan
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- List of Key Players of Pet Sitting Market
- A Place for Rover, Inc.
- DogVacay
- Holidog.com
- G'Day! Pet Care
- FETCH! PET CARE, INC.
- Swifto Inc.
- Chicago Dog Walkers
- Best Friends Pet Care
- Camp Bow Wow
- PetSmart Inc.
Find more research reports on Homecare & Decor Industry, by Grand View Research:
- Pet Furniture Market – The global pet furniture market size was valued at USD 2.1 billion in 2018. Increased availability of a wide range of multifunctional and fashionable furniture for pets on a global level is driving the growth.
- Companion Animal Health Market – The global companion animal health market size was valued at USD 15.91 billion in 2018 and is expected to witness a CAGR of 6.1% over the forecast period.
- Pet Shampoo Market – The global pet shampoo market size was valued at USD 489.6 million in 2018. The increasing awareness regarding health and hygiene of the pets among owners is driving the growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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