Pet Travel Services Market

Pet Travel Services Market Snapshot (2023 to 2033)

The pet travel services market size is projected to expand to a valuation of US$ 2.09 billion in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 10% from 2023 to 2033 and reach US$ 5.42 billion in 2033.

The expansion is catapulted by factors like higher pet widespread adoption & humanization dynamics, the increasing prevalence of tourists traveling together with their domestic pets, sprouting pet-friendly traveling services & hotels, and enhanced excitement among individuals for traveling after the global epidemic lockdowns. For instance, Condor Ferries, a passenger and freight ferry service provider in the United Kingdom, revealed that over 53% of worldwide pet parents take their furry animals on vacation travels, and 37% of homes now are associated with four-legged pets for a full family vacation. This rate has risen by 19% over the past decade.

With a surge in the number of pet travelers, pet travel services have emerged as an important part of and contributor to the tourism industry. People are also opting for covered services to avoid discrepancies with their pets. The notion of pet insurance is well-known in Western nations, but it is relatively new in emerging and developing nations.

In 2022, the dogs segment led the global pet travel services market, accounting for more than 59% of total revenue. Many dog breeds are regarded as the best tourism companions because they are socially engaged, vibrant, and do not bother spending a long time on the road. Most dogs quickly adapt to their owners' lifestyle habits and are therefore favored for traveling. As a result, this market segment is expected to dominate in the coming decades. Domestic travel led the market by travel type in 2022, accounting for the lion's proportion of revenue. Pet-owning rates in advanced countries have boosted people's desire to spend more time and funds on their pet's health and wellbeing, either actively or passively. Pet spending in the United States has risen from US$ 90.5 billion in 2018 to US$ 123.6 billion in 2021, based on the American Pet Product Association. Soaring grooming facilities, kennel boardings, and veterinarian consults have risen domestic pet transit within localities.

As the proportion of pet owners travelers grows, so do the opportunities for pet accommodations. Based on the American Pet Products Association, Americans typically spend US$ 50 billion per year on their pets, and 27% of American pet parents acknowledge having professional images captured of their pets.

During the forthcoming years, Asia Pacific is predicted to grow at the highest Pace. The Public's interest in adopting domesticated animals is growing, as is their spending power, which increases the region's pet care expenses. Furthermore, rapid tourism development in nations like China, India, South Korea, and Japan is predicted to accelerate market growth.

To satisfy the increasing demand and requirement for seamless pet transportation, pet transportation companies have extended their transportation services to many new areas. Dog staycations and pet-friendly resorts, playgrounds, cafes, and other establishments have increased consumers' desire to travel with their pets with minimal possible worry. Reservations for pet travel have enhanced by over a third in the post-pandemic duration, particularly in 2022, when compared to the pre-pandemic timespan. Major market players, including Pet Relocation, are strengthening their corporate strategy initiatives to address the challenges of flights and ground pet transit.

The market is fiercely competitive and divided, with a significant number of companies present. Some major industry players, such as Airpets International and Pets Abroad United Kingdom, have been airlifting pets for over 50 years, offering a variety of domestic and foreign transportation options.

Data Points	Key Statistics
Expected Market Value (2023)	US$ 2.09 billion
Anticipated Forecast Value (2033)	US$ 5.42 billion
Projected Growth Rate (2023 to 2033)	10% CAGR

Most people owing pets treat them as their companion and they love to travel with their pets and explore various destinations worldwide. Nowadays, pet travel services are growing at a rapid pace as there has been an increase in pet adoption rates across the globe.

Thus, it’s a great option for those people who want to travel and experience new destinations with their pets. Moreover, with the increase in the number of travelers with their pets, there has been a growing number of pet-friendly hotels and travel destinations across the globe.

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Global Pet Travel Services Market: Market Dynamics

While adopting a pet the responsibilities towards their pet owner surges and whatever pet owners consider important for living comfortably, they also want it for their pets. This is a major reason why they do not hesitate in spending for the well-being of their pets and are willing to spend more on luxuries and various activities like traveling, grooming, and many others.

Millennials, who account for a majority of pet owners, also think that pets deserve the same treatment as small children and many millennials, summertime means a time to kick back and relax on vacation and pamper their pets. This is one of the primary factors driving the demand for pet travel services market worldwide.

Trends for Pet Travel Services Market

With the increase in the number of pet travelers the pet travel services had become a vital part of and have a significant contribution in the travel industry. Further, to avoid the uncertainties with their pet’s people are increasingly opting for pet insurance too. The concept of pet insurance is quite famous in western countries, but it is new for the developing and emerging economies.

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Opportunities for Pet Travel Services Market

The opportunities for pet hotels are growing with the increase in the number of travellers with their pets. According to the American Pet Products Association, approximately US$ 50 billion is spent by Americans per annum on their pets and 27% of American pet owners admit to having had professional photographs taken of their pets.

Moreover, many luxury hotels also provide pet day-care services and playtime which helps the pet hotels to attract pet lovers by providing services like pet minibars, pet walking services dedicated to pet parks which would help to boom the pet travel service market.

Challenges for Pet Travel Services Market

Current Covid-19 outbreak resulting in challenges of growth of pet travel services. As it has been seen that many countries like China, The United Arab Emirates, India, Sri Lanka, and many others have taken steps regarding pet travel services to stop the spread of the virus.

For instance, pets traveling from or into the United Arab Emirates must have annex signed by a veterinarian stating that the pet had not been in contact with any humans or animals infected with COVID-19. Thus the market is facing growth challenges in the present scenario.

Global Pet Travel Services Market: Key Players

Some of the key players operating in the global pet travel services market are

International Pet and Animal Transportation Association (IPATA)
PetSino Happy Tails Travel Inc.
Fly Pets PetRelocation Inc.
Pet Travel Inc.
Air Animal Inc.
World Pet Travel
Pet Air Carrier LLC
Pacific Pet Transporters
Animal Motel
Animal Airways
RoyalPaws
Animal Travel
Global Paws
PETport
Airvets.com

These players are expected to positively influence the growth of the pet travel service market during the forecast period.