The pet lodging market is poised to reach a valuation of US$ 3.1 Bn in 2022. Furthermore, sales in the pet lodging market are projected to increase at a 5% CAGR between 2022 and 2032, totalling around US$ 5.0 Bn by 2032.
Rapid surge in pet adoption across the world is a key factor driving growth in the pet lodging market. With rise in disposable income and changing lifestyle, people are showing a keen inclination towards adopting pets like dogs and cats.
Similarly, rise of the parent market i.e. ‘pet care market’ along with growing trend of pet humanization is expected to positively impact the growth of the pet lodging market during the forecast period.
Furthermore, rising number of service providers along with increasing number of people opting for the pet rooming house service will help the market to grow at an exponential rate.
Multi-dimensional service offerings provided by the lodge owners is expected to keep the market vibrant and growing, while avoiding stagnation. Providing the consumers with a ‘stress-free experience’ will be a key factor in maintaining the market edge.
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Key Takeaways from the Pet Lodging Market Study:
- By pet type, dogs segment will continue to remain the most remunerative in the global pet lodging market during the forecast period.
- Based on price range, premium segment is expected to grow at a steady pace during the next decade.
- Currently, the U.S. accounts for approximately 25% share of the global pet lodging market.
- Pet adoption market in UAE is anticipated to grow at around 6% CAGR during the forecast period.
- The U.K. pet lodging market is projected to accelerate at 3% CAGR over the next 10m years.
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“Future growth of the market will depend on how the competition between different firms leads to new developments, and innovations in service offerings” – says the FMI Analyst.
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Market by Category
By Pet Type:
- Dogs
- Cats
- Other
By Lodging Period:
- Overnight Stay
- Extended Stay
By Price Range:
- Mass
- Premium
By Booking Type:
- Physical
- Online
Who is winning?
Key market leaders are looking to expand their market presence into newer regions and countries where pet-adoptions are on a rise. The focus on providing comfort and extra-services to the pets lodging with them has led to their presence and brand-image increasing. Offering premium services to further boost the revenue has also helped the key player to stay ahead in the global pet lodging market.
The key players in the pet lodging market are 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, and Carey Pet and Home Care.
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