The pet daycare care market is valued at US$ 3.7 Billion in 2022. Sales are anticipated to grow at an 8% CAGR throughout the projection period, with a US$6.7 billion market by 2032.
The demand for pet daycare services has expanded as the culture of pet humanization grows. Since ancient times, people have considered their dogs to be friends and relatives. Additionally, they like raising kids with the finest. Governments invest money in the welfare of animals, and several pet organizations are attempting to improve the lives of pets.
In addition, occurrences of anxiety and despair have increased recently. According to experts, getting a pet is a good approach to dealing with these psychological problems. People rarely ever have time to provide their dogs the attention they need as a result of the lengthening of workdays.
Additionally, some diseases like obesity, health issues that recur frequently, etc., arise because dogs struggle. Pet owners frequently turn to professionals in pet daycare to handle the aforementioned concerns.
The rise in disposable income is a significant aspect that has favorably influenced market trends for pet daycare facilities. A decade ago, pet owners had to consider using this service unless it was necessary.
Competitive Landscape
To keep their market share, several large corporations engage in a variety of techniques, including alliances, mergers, and acquisitions. Additionally, they are growing their footprint and building several other pet care facilities all around the world.
For Instance:
- In July 2022, Dogtopia announced that it would build a second site in San Antonio on the far Northwest side of the city.
- In 2019, PetBacker began offering guilt-free tours to pet owners who will then quickly schedule cage-free pet boarding online. This project was a joint effort between Uber and Airbnb.
