Global Pet Daycare and Lodging Market 2019-2023
About this market
Rising pet ownership and increased spending on pets will be a key factor driving the growth of the market. The rising aging population in developed countries is driving the growth of global pet daycare and lodging market as pets are considered good companions for the elderly. With the growing ownership of pets, pet owners are increasingly spending on service packages with more options, including food and grooming options. Technavio’ s analysts have predicted that the pet daycare and lodging market will register a CAGR of over 8% by 2023.
Increasing availability of multifunctional pet furniture in pet daycare and lodging
The global pet daycare and lodging market is witnessing an increasing availability of multifunctional pet furniture in pet daycare and lodging. The desire for improved pet care products and accessories such as pet furniture has increased owing to the growing importance of pets. These furniture pieces are designed and developed in a way that fits seamlessly without compromising on the aesthetic value.
Growing awareness of safety concerns and animal allergies
Many pet owners do not rely on such services as they think that their pets will get anxious. They also think that their pets might get susceptible to safety risks such as the exposure to ingestible items and electric wires, sharp fencing and lack of trained staff. These factors discourage pet owners from adopting pet daycare and lodging services, which will limit the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the pet daycare and lodging market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies. Factors such as the increasing availability of multifunctional pet furniture in pet daycare and lodging coupled with rising pet ownership and increased spending on pets will provide considerable growth opportunities to pet daycare and lodging manufactures. Best Friends Pet Care, Camp Bow Wow, Dogtopia Enterprises, PetSmart Inc., and Preppy Pet are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Pet Daycare and Lodging Market 2019-2023
Technavio recognizes the following companies as the key players in the global pet daycare and lodging market: Best Friends Pet Care, Camp Bow Wow, Dogtopia Enterprises, PetSmart Inc., and Preppy Pet.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing inclination towards premiumization in pet care services.”
According to the report, one of the major drivers for this market is the increasing availability of multifunctional pet furniture in pet daycare and lodging.
Further, the report states that one of the major factors hindering the growth of this market is the growing awareness of safety concerns and animal allergies.
Best Friends Pet CareCamp Bow WowDogtopia EnterprisesPetSmart Inc.Preppy Pet
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