Emerging Trends Safeguard Bullish Outlook for U.S. Pet Care Services Market
NEW YORK, NY, Jul 13 (MARKET WIRE) --
Spurred in part by technological and pharmaceutical advances in
veterinary medicine, sales of pet care services in the U.S. will
experience a compound annual growth rate (CAGR) of 9% over the next five
years to exceed $34 billion in 2013, according to "Pet Care Services in
the U.S., 3rd Edition: Riding the Multiservice, Premium/Luxury and
Corporate Waves," by leading market research publisher Packaged Facts.
In 2008, the pet care services market totaled $23 billion. Veterinary
services, the largest pet care category, accounted for three-quarters of
overall market revenues. The category paces the rest of the market, and
safeguards the industry's much-touted recession resistance.
"Because veterinary services are the most essential type of service, sales
in this channel will be the least effected by the economic downturn while
continuing to lead market growth, with services including grooming,
training, and boarding being harder hit in the short term but fully
rebounding by 2011," says Tatjana Meerman, publisher of Packaged Facts.
Other key consumer-based market drivers include the ever-widening range of
pet care services (including growth areas such as mobile grooming, pet
sitting and walking, waste removal, funerary/bereavement, and travel),
intense pet owner interest in preventive and therapeutic pet wellness, the
all-important consumer benefit of time-saving convenience, the aging pet
and human populations, the role of higher-spending premium demographics,
and the overall human/animal bond.
"Pet Care Services in the U.S., 3rd Edition: Riding the Multiservice,
Premium/Luxury and Corporate Waves" comprehensively explores every major
category of the U.S. pet care services industry, as well as significant
emerging categories. Industry market factors examined at length include
the current and projected impact of the recession; industry
"corporatization" via the ramped-up involvement of major companies and
home-grown franchises with natural aspirations; service trends in the
independent pet specialty channel; the cross-channel multiservice
facility trend; high-growth areas in the veterinary channel including
pain management, senior care, cancer care and hospice care; and trends in
premium/luxury areas including pet hotels, daycare and spa-style
grooming. For further information, visit:
http://www.packagedfacts.com/Pet-Care-Services-1655769/
About Packaged Facts -- Packaged Facts, a division of Market Research
Group, publishes market intelligence on a wide range of consumer market
topics, including consumer goods and retailing, foods and beverages,
demographics, pet products and services, and financial products. Packaged
Facts also offers a full range of custom research services. For more
information, write press@packagedfacts.com or call (240) 747-3028.
Contact:
Packaged Facts
(240) 747-3028
press@packagedfacts.com
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