Pet Services
Market Continues to Grow
People taking advantages of services ranging from doggy spa
treatments to behavior modification sessions to advanced cancer
therapy are driving rapid growth in the U.S. pet services market—a
niche expected to top $25 billion by 2010, according to a new
report by Packaged Facts, a division of MarketResearch.com (New
York).
U.S. sales of veterinary, grooming, boarding, day care, training,
pet sitting and other pet care services totaled $18.2 billion
in 2005, according to Packaged Facts estimates, and should
reach $25.3 billion in 2010.
Although veterinary services represent 74 percent of revenues
in the pet services market, training and grooming services
are the fastest-growing niches: Training services grew 10.5
percent annually from 2001 to 2005, and grooming services
grew 8 percent annually during the same period.
Much of this growth can be attributed to a trend Packaged
Facts calls “functional pampering,” which mimics
the lifestyles of baby boomers, a key pet-owning demographic.
In addition, the move toward health-enhancing treatments
has been a boon for mobile groomers, trainers, visiting veterinarians
and large-scale retailers that offer a combination of pet
services.
“Pet owners are caring for their pets like children,
and the trend toward ‘convenience pets’—pets
who go anywhere, do everything and are expected to behave
everywhere like a member of the family—is quickly catching
on,” said Don Montuori, publisher of Packaged Facts.
“Pet service providers in turn are meeting the upscale
demands of today’s pet owners and the payout continues
to be big.”
For information about purchasing the report, visit www.packagedfacts.com/pub/1219007.html.
[September 2006 PET AGE]
PET SERVICES
REVENUES BY CATEGORY
U.S. sales of pet services are
expected to grow steadily through the end of the decade. |
| CATEGORY |
2005 SALES |
2010 SALES |
AVERAGE ANNUAL GROWTH RATE |
| Veterinary |
$13.461 million |
$18.879 million |
7.0% |
| Boarding |
$2.022 million |
$2.656 million |
5.6% |
| Grooming |
$1.202 million |
$1.655 million |
6.6% |
| Training |
$0.887 million |
$1.327 million |
8.4% |
| Other Services |
$0.618 million |
$0.811 million |
5.6% |
| Total |
$18.190 million |
$25.329 million |
6.8% |
--Packaged Facts, 2006
|