Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Pet Sitting market.
Trusted Business Insights presents an updated and Latest Study on Pet Sitting Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Pet Sitting market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Pet Sitting Market
The global pet sitting market size was valued at USD 2.5 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2027. Increasing spending of consumers on the pet and its services has resulted in a growing need for time-saving pet care services, thus fueling the growth of the pet sitting business. In addition, the increasing number of pet ownerships among people, particularly across U.S. and European countries, is driving the need for pet support services, thereby propelling demand for pet sitting services. 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 health 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 spending for pet care. According to the American Pet Products Association (APPA), USD 69.51 billion was spent on U.S. pets in 2017. This scenario is expected to increase the spending on pet care services, such as grooming, boarding, training, and pet sitting services.
Increasing adoption of pets among consumers is vitalizing the need for increased pet sitting services. According to the American Pet Products Association, pet ownership has increased from 56% to 68% in the last 30 years, resulting into 85 million households having a pet in 2018 in U.S. Moreover, rise in the number of leisure travelers across the world has gained higher prominence for the pet-sitting market. According to the World Tourism Organization, there were 1.4 billion international tourists arrivals growing by 6% in 2018, compared to 2017.
Additionally, the growing popularity of serial house sitting among retired and self-employed persons in order to incur some income is paving the way through increased awareness among pet owners. For instance, approximately 56% of house sitters on HouseSitMatch.com are aged over 60 years of age. While house sitters registered on TrustedHousesitters.com tend to be over the age of 35 in 2017.
Pet sitting is an easy and convenient option to take care of various pets among households, which enables owners to keep a consistent schedule as well as the environment of their pets. According to the blog by Paws At Home, Google Trends suggests a steady increase in dog and cat sitting searches by 40% and 30% respectively from 2014 to 2018 in U.S. Moreover, the higher indulgence of professional businesses in pet sitting certification from NAPPS, PSI or Certified Pet Expert.com is helping boost the industry growth by providing start-ups with training and best practices.
Application Insights: Pet Sitting Market
In terms of revenue, day-care visits lead the market with a share of 35.0% in 2019. Rise in the adoption of a pet, growing preference of pet owners for pet care, and high disposable income are some of the factors anticipated to propel the segment growth. Moreover, the rise in the working population across regions provides a boost to market growth. For instance, according to American Pet Products Associations National Pet Owners Survey 2019-2020, there were 42.7 million households owning a pet cat and 63.4 million households owning pet dogs in the U.S. This scenario increases the need for pet sitting services.
Pet transportation is expected to expand at the highest CAGR of 9.0% from 2021 to 2027. Due to busy schedules, workaholic pet parents among millennials and Generation Z prefer increasing support and help provided by pet sitting services for pet transportation. The pet transportation services help pick-up and drop-off pets to various pet offerings, such as grooming, playdates, and visit relatives. In addition, in the wake of a pandemic situation across the globe, consumers are preferring to use the pet transportation services owing to the movement of people from one place to another. Moreover, owing to the strict lockdown in certain countries and avoidance for moving out has helped pet sitting transportation services to handle their clients for various pet services.
Pet Type Insights
In terms of revenue, the dog segment lead the market with a share of 37.9% in 2019. This is attributed to a high number of dog pets across the globe, particularly in the U.S. There are over 470 million dogs kept as pets across the globe, thus dogs emerged as the leading pet type 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. Moreover, according to the Pet Food Manufacturers Association, there was 9 million pet dog population at around 25% of households in the U.K. in 2018-2019. In 2019, 12 million or 40% of households had pets.
The cat segment is expected to expand at a CAGR of 8.4% from 2021 to 2027. There are approximately 370 million cats kept as pets across the globe. Additionally, according to the Insurance Information Institute, Inc., there were 42.7 million households in the U.S. owning pet cats in 2019. Moreover, according to the Pet Food Manufacturers Association, there was 7.5 million pet cats population at around 17% of households in the U.K. in 2018-2019. An increasing number of pet ownerships are expected to fuel the growth of the market over the forecast period 2021-2027. The average number of pets in pet-owning households has jumped from 1.5 to 2.2 in 2018, since 2011.
Regional Insights: Pet Sitting Market
North America lead the market with a share of 43.1% in 2019. This is attributed to factors such as a rise in the number of pet owners and increasing awareness about pet grooming services. According to the American Pet Products Association, approximately 60% of U.S. households owned dogs while 47% owned cats in 2019. Increasing prevalence of tech-savvy millennial pet owners is leading to technological innovation in the pet sitting business. According to Packaged Facts, millennials accounted for 35% of all U.S. pet owners in 2018. Thus, a high proportion of the millennial pet parent category is fueling the demand for advanced pet care services, such as pet sitting business.
Asia Pacific is expected to expand at the fastest CAGR of 9.1% from 2021 to 2027. Rise in the adoption of pet animals among people who consider them family members has boosted the growth of the market in this region. increase in disposable income is leading to the increasing adoption of pets in countries, such as China, Indonesia, and India. The India International Pet Fair estimates that the pet population has grown from 7 million in 2006 to 10 million in 2014 and 600,000 pets are adopted every year. India is projected to have the fastest-growing pet market due to rising adoption rates of pets. This, in turn, drives the demand for various pet care services, such as pet sitting services.
Key Companies & Market Share Insights: Pet Sitting Market
The market has been characterized by high competition. Companies are focusing on expanding their product lines and are adopting innovative technologies in order to meet consumer demand for custom pet sitting service products. In addition, the increasing number of services rendering various pet segments is fueling the market growth as well as the penetration of these services across households. For instance, in April 2019, A Place for Rover, Inc. launched new cat services for pet parents to book trusted care for their cats across North America and the U.K. The services include 30-minute drop-in visits for feeding, cleaning the litter box, playtime or administering medication. Some of the prominent players in the pet sitting market include:
Key companies Profiled: Pet Sitting Market Report
- A Place for Rover, Inc.
- GDay! Pet Care
- FETCH! PET CARE, INC.
- Swifto Inc.
- Chicago Dog Walkers
- Best Friends Pet Care
- Camp Bow Wow
- PetSmart Inc.
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global pet sitting market report on the basis of application, pet type, and region:
Application Outlook (Revenue, USD Million, 2016 – 2027)
- Day Care Visits
- Dog Walking
- Pet Transportation
Pet Type Outlook (Revenue, USD Million, 2016 – 2027)
- Cage Pets
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