The pet lodging market is set at US$ 4 billion in 2023, with expectations for it to reach a total of US$ 7 billion by 2033. The adoption of pet lodging services is anticipated to advance steadily, exhibiting a forecasted Compound Annual Growth Rate (CAGR) of 5.7% during the indicated period.
The growing pet ownership rates globally provide a significant opportunity for the pet lodging market. As more individuals welcome pets into their families, the demand for safe and comfortable lodging options during travel or work commitments is on the rise.
Pet owners are willing to invest in premium and personalized lodging services for their pets. This includes amenities such as spacious suites, luxury bedding, individual play areas, and personalized care options tailored to each pet’s unique needs. The integration of technology is becoming a prominent trend in the pet lodging industry. This includes features like online booking systems, mobile apps for real-time updates and monitoring, webcams to remotely check on pets, and digital communication channels for seamless interaction between pet owners and facility staff.
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Health and wellness services are gaining traction in the pet lodging market. This includes offering grooming, spa treatments, exercise programs, and even holistic therapies to promote the overall well-being of pets. With increasing awareness about environmental sustainability, the adoption of eco-friendly practices is becoming a trend in the pet lodging market. This includes using sustainable materials, implementing energy-efficient systems, and incorporating green initiatives in day-to-day operations.
Franchise and chain operations are expanding in the pet lodging industry, offering standardized services and a recognizable brand. This trend allows for broader market reach and greater convenience for pet owners.
Key Takeaways from the Pet Lodging Market:
- As per FMI, the United States is spearheading the growth across North America, accounting for nearly 5.9% of the market share in 2022.
- United Kingdom is expected to account for 5.1% of the total market share in Europe.
- As per Future Market Insights, the premium segment is expected to dominate the product type with a market share of 5.3%.
- As per FMI, the online booking segment is poised to expand at over 5.5% CAGR in 2023.
“The pet lodging market is witnessing notable expansion as pet owners increasingly seek trustworthy and high-grade accommodations for their beloved pets”, remarks an analyst at FMI.
Market Competition
Key players in the pet lodging market are innovatively transforming the manufacturing process to cater to the changing demands and desires of pet owners in a distinctive manner. These players are adopting innovative design concepts and advanced technologies to create state-of-the-art pet lodging facilities.
Modern manufacturing techniques, such as modular construction and prefabrication, enable faster and more efficient construction of pet lodging facilities. This approach ensures high-quality structures that are durable, customizable, and easily scalable.
Key players are incorporating eco-friendly materials and sustainable practices to minimize environmental impact. By embracing these manufacturing advancements, key players are transforming the pet lodging market, providing safe, comfortable, and attractive accommodations for pets while offering convenience and peace of mind to their owners.
Key Players in the Market:
- Oupet Co.
- PetBacker Co.
- PaCo Pet Care LLC
- PetSmart Inc.
- Paradise 4 Paws LLC
- Puss ‘n’ Boots Boarding Cattery
- Dogtopia Enterprises LLC
- Pet Station Kennels & Cattery
- Preppy Pet Co.
- Barkefellers
- Urban Tails Pet Resort
- Royvon Dog Training & Hotels
- Country comfort kennels
- Camp Bow Wow Co.
- Best Friends Pet Care
- Carey Pet and Home Care
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Product Portfolio:
- Oupet Co. offers a diverse product portfolio for pet owners, including high-quality pet food, grooming products, toys, and accessories. Their range focuses on providing nutrition, comfort, and entertainment for pets.
- PetBacker Co. provides a comprehensive product portfolio catering to pet care services, including pet sitting, boarding, grooming, and walking. Their offerings aim to provide convenience and peace of mind for pet owners, ensuring the well-being and happiness of their beloved companions.
More Insights Available
Future Market Insights offers an unbiased analysis of the pet lodging market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pet lodging market, the report is segmented on the basis of Pet Type (Dogs, Cats and Other), Lodging Period (Overnight Stay and Extended Stay), Price Range (Mass and Premium), Booking Type (Physical and Online), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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