Press release
Allied Market Research published a report, titled, "Pet Travel Services Market by Pet Type (Dog, Cat, Birds, Others), by Travel Type (Domestic, International), by Mode of Transport (Ground, Air, Sea): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global pet travel services industry generated $782.41 million in 2021, and is estimated to reach $1.3 billion by 2031, witnessing a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/32111
Drivers, Restraints, and Opportunities
Rise in pet ownership among millennials and Generation Z, the growing trend of humanization of pets, rise in awareness of pet health, the rapid expansion of social media and e-commerce platforms globally, a shift toward nuclear families as a result of urbanization, an increase in pet population, and rise in consumer disposable income are key factors that drive the growth of the global pet travel services market. However, stringent government norms on pet vaccination & travel hamper the global market growth. On the other hand, growth in popularity of pet cafes or animal cafés is expected to open new opportunities for the players in the pet travel services market during the forecast period.
The dogs segment to dominate in terms of revenue during the forecast period
Based on pet type, the dogs segment was the largest market in 2021, contributing to nearly half of the global pet travel services market, and is expected to maintain its leadership status during the forecast period. The same segment is projected to witness the fastest CAGR of 5.7% from 2022 to 2031. The growing trend among dog owners to train their pets for different functional benefits and to make them participate in dog shows & events led to the significant growth of the segment. This is owing to the fact that dog owners seek pet travel services to reach the venue of events. Further, the growing trend of pet adoption among the millennials & Generation Z, growth in urbanization, shift toward nuclear families, adoption of pets by elderly people, and growth in population of dogs are the key factors that propel the growth of the segment.
The domestic segment to maintain a prominent revenue growth during the forecast period
Based on travel type, the domestic segment held the largest market share of more than four-fifths of the global pet travel services market in 2021 and is expected to maintain its dominance during the forecast period. This is because domestic travel is affordable and takes less time to reach a destination. Moreover, less documentation is required as compared to international traveling. The international segment, however, is projected to witness the fastest CAGR of 5.6% from 2022 to 2031. Increase in the demand for pet visa is likely to uplift the market for international pet travel services. Moreover, some popular airlines allow pets for international travel and have simple pet policies, which is projected to contribute towards the growth of the pet travel services market.
North America to maintain its dominance in terms of revenue by 2031
Based on region, North America was the largest market in 2021, capturing more than two-fifths of the global pet travel services market, and is expected to lead in terms of revenue in 2031. The demand for pet travel services in the region is driven by several factors, such as increase in ownership of pets, rise in awareness of animal welfare, and change in lifestyles of pet owners. However, the market in Asia-Pacific would manifest the fastest CAGR of 6.5% during the forecast period. The market growth in this region is primarily driven by an increase in the number of millennials who own pets along with the trend of pet humanization.
Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32111
Leading Market Players
Air Animal, Inc.
PetRelocation, Inc.
Blue Collar Pet Transport
Royal Paws
Pet-Express
PetSpot
World Pet Travel
Pet Travel Services Guam
Happy Tails Travel, Inc.
AirPets Relocation Services Pvt. Ltd.
Pets Travel, Inc.
Pawsome Pet Travel Ltd.
Across the Pond Pets Travel
Best Pet Travel Service
Pet Airways
The report analyzes these key players of the global pet travel services market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key findings of the study
The global pet travel services market size was valued at $782.4 million in 2021, and is estimated to reach $1315.3 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.
By pet type, the dog segment is estimated to witness the fastest growth, registering a CAGR of 5.7% during the forecast period.
In 2021, depending on travel type, the domestic segment was valued at $ 670.2 million, accounting for 85.7% of the market share.
In 2021, the U.S. was the most prominent market in North America and is projected to reach $ 424.3 million by 2031, growing at a CAGR of 4.8% during the forecast period.
LIMITED-TIME OFFER - Buy Now & Get Exclusive Discount on this Report@ https://www.alliedmarketresearch.com/checkout-final/8578987df7c37ca56aaff5aaacf9231f
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pet travel services market analysis from 2021 to 2031 to identify the prevailing pet travel services market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pet travel services market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pet travel services market trends, key players, market segments, application areas, and market growth strategies.
Know More- https://www.prnewswire.com/news-releases/pet-travel-services-market-to-reach-1-3-billion-globally-by-2031-at-5-4-cagr-allied-market-research-301730720.html
Similar Reports in Consumer Goods Industry
After Sun Care Products Market https://www.alliedmarketresearch.com/athleisure-market
Cosmetics Market https://www.alliedmarketresearch.com/cosmetics-market
Contact:
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.
Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.
This release was published on openPR.
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
Delete press release Edit press release News-ID: 4410801 • Views: …
