Pet Services Market Trends and Industry Growth 2024-2032

[HealthInsights]

According to a recent report published by SNS Insider, the Pet Services Market was valued at USD 3.64 billion in 2023 and is projected to grow significantly, reaching USD 6.95 billion by 2032. This growth represents a compound annual growth rate (CAGR) of 7.46% during the forecast period of 2024–2032.

The booming pet care industry reflects changing consumer attitudes toward companion animals, with pet owners increasingly viewing pets as family members. This humanization trend has led to greater demand for premium, customized services such as grooming, pet sitting, training, daycare, and even pet spas. In addition, higher disposable incomes and growing awareness about pet health are fueling increased expenditure on quality services.

The expanding millennial pet-owning demographic is also reshaping market dynamics. Millennials and Gen Z pet owners are particularly willing to invest in services that enhance their pets’ well-being, convenience, and lifestyle. These generations are more likely to seek digital solutions such as mobile grooming, online training sessions, and app-based pet walking services, contributing to the rise of innovative service delivery models within the industry.

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As urbanization continues, the demand for pet boarding and daycare centers is soaring due to the fast-paced lifestyles of pet owners. Simultaneously, technological integration, such as AI-driven pet monitoring and health tracking applications, is making services more personalized and accessible. Moreover, pet insurance offerings are expanding in developed markets, encouraging pet owners to invest more confidently in high-end services.

Key Report Highlights:

• Grooming & Boarding Services Lead the Market: Among various service segments, grooming and boarding services hold the largest market share. As pets are increasingly included in daily routines and events, the demand for regular grooming and luxury boarding has surged.

• North America Dominates Revenue Share: North America currently accounts for the largest portion of the pet services market, attributed to high pet ownership rates, premium service providers, and rising disposable incomes.

• Asia-Pacific Emerging as a Fast-Growing Region: The Asia-Pacific region is projected to experience the fastest growth during the forecast period. Changing lifestyle preferences, increasing awareness of pet health, and rising middle-class populations are key contributors.

• Technological Advancements Driving Innovation: The market is witnessing technological transformations with the introduction of mobile apps for pet walking, grooming appointment bookings, real-time tracking, and online consultations with veterinary professionals.

Competitive Landscape:

Leading players in the Pet Services Market are focusing on service diversification, mergers and acquisitions, and strategic partnerships to strengthen their market presence. Companies like PetSmart Inc., Rover Group Inc., Wag! Group Co., Dogtopia Enterprises, and Fetch! Pet Care are continuously innovating to offer personalized and tech-integrated pet solutions.

These players are also capitalizing on customer loyalty programs, subscription-based services, and on-demand mobile pet services to enhance customer retention and engagement. In addition, many startups and boutique service providers are emerging, offering niche services like pet massage, pet reiki, and luxury pet photography.

Market Drivers:

1. Increased Pet Ownership Worldwide: Particularly post-COVID-19, global pet adoption surged as people sought companionship during lockdowns.

2. Changing Consumer Lifestyles: Pet owners are spending more on discretionary services that enhance their pets' lifestyles.

3. Focus on Pet Health and Wellness: Rising health concerns among pets and increasing awareness have led to demand for professional services.

4. E-commerce and App-based Services: The convenience of scheduling, tracking, and paying for services online is driving significant engagement.

Challenges:

While the outlook remains positive, the market faces challenges such as regulatory variations across regions, a shortage of skilled pet care professionals, and inconsistent service standards. However, these are being addressed through certifications, franchising models, and the integration of AI and automation tools to ensure consistency and quality.

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