The Pet Travel Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pet Travel Services Global Market Report 2024, The pet travel services market size has grown rapidly in recent years. It will grow from $1.85 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increasing pet ownership, urbanization and changing lifestyles, regulatory changes, increased awareness of pet safety, expansion of pet-friendly accommodations.
The pet travel services market size is expected to see rapid growth in the next few years. It will grow to $3.02 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to globalization and international travel, evolving regulatory landscape, growing focus on sustainable and eco-friendly practices, rise in premium and specialized services, expansion of pet tourism. Major trends in the forecast period include technology integration, health and safety concerns, specialized accommodations, customized experiences, environmental sustainability.
An increase in pet adoption will propel the growth of the pet travel services market going forward. Animal adoption means acquiring animals through rescue groups instead of purchasing them from pet shops or breeders. People use pet travel services for conveniently transporting their pets, which is less time-consuming and is handled by professionals. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. Additionally, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog, making them the most common pet and approximately 48% of households had dogs in 2022, 40% increase from 2019. Therefore, the rise in the animal adoption rate is driving the growth of the pet travel services market.
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The pet travel services market covered in this report is segmented –
1) By Travel Type: Domestic, International
2) By Pet Type: Dogs, Cats, Other Pet Types
3) By Booking Type: Online Booking, Offline Booking
4) By Application Type: Transportation, Relocation
Product innovations are a key trend gaining popularity in the animal health market. Major market players are concentrating their efforts on introducing new and advanced services and products to strengthen their position in the market. For instance, in March 2023, Pet Value, a Canada-based pet food and supplies company, launched Let’s Go Outside, a unique digital travel guide focused on pets. The limited edition hard copy of the travel guide has a unique chew-proof sleeve that is pet friendly and provides a collection of stories and expert tips with suggestions of pet-first hotels, campsites, hikes, parks, restaurants, and others that the animal care experts of the company curate.
The pet travel services market report table of contents includes:
1. Executive Summary
2.Pet Travel Services Market Characteristics
3.Pet Travel Services Market Trends And Strategies
4. Pet Travel Services Market analysis
5. Pet Travel Services Market Size And Growth
6.Pet Travel Services Segmentation
7.Pet Travel Services Regional And Country Analysis
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27.Pet Travel Services Competitive Landscape And Company Profiles
28.Pet Travel Services Key Mergers And Acquisitions
29.Pet Travel Services Future Outlook and Potential Analysis
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