Pet Training Services Market New Investment Opportunities Emerge Growth by 2031 | To Reach $6.84 Billion by 2031
According to the pet training services market analysis, the global market is segmented based on the pet type, purpose, branch, training method, and region.
— Roshan Deshmukh
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 18, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Pet Training Services Market” The pet training services market size was valued at $3.83 billion in 2021, and is estimated to reach $6.84 billion by 2031, growing at a CAGR of 6% from 2022 to 2031. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario.
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Pet training is essential for any pet animal that boosts confidence in pets, inculcates desirable behaviors among pets, and establishes strong relationships among the pets and the pet owners. Rapidly growing adoption of pet animals among the millennials and the gen z is a major factor that is expected to boost the demand for the pet training services across the globe. The adoption of various companion animals such as rabbits, dogs, cats, and birds is gaining rapid traction among the population all over the globe.
According to the pet training services market analysis, the global market is segmented based on the pet type, purpose, branch, training method, and region. On the basis of pet type, the market is segregated into dogs, cats, horses, and others. Depending on the purpose, it is divided into standard, specific, and service. Based on the branch, the market is segmented into single and multiple. Furthermore, depending on the training method, the pet training services market is segregated into virtual and offline. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
Based on the pet type, the dogs segment dominated the market, garnering around 42.5% of the pet training services market share in 2021. Dogs are trained to make them perform a wider variety of functions such as guarding, drugs and explosive detection, search and rescue, and to assist the disabled. Training helps to build confidence, offer mental stimulation, and build a strong bond between humans and dogs. The rising adoption of dogs as pets and growing desire among the dog owners to train their pets for different functional benefits has led to the significant growth of the dogs segment in the global pet training services industry.
Based on the training method, the virtual is anticipated to witness the highest CAGR of 6.7% during the forecast period. Virtual pet training services are becoming increasingly popular, as people look for ways to train their pets without having to leave the comfort of their homes. Virtual pet training services offer a variety of different activities that they can do with their pet, and they can be a great way to keep their pet entertained and engaged. Furthermore, the rising adoption of digital technologies like internet and smartphones is driving the virtual segment’s growth.
Depending on the purpose, the standard segment accounted for 69.3% of the market share in 2021 and led the global pet training services market. This dominance is attributed to the rising expenditure on pet training for the purpose of entertainment, companionship, and security functions. The rising adoption of pets for companionship and entertainment purposes is expected to boost the growth of the standard segment during the forecast period.
Region-wise, North America dominated the global market in 2021. The rising adoption of pets, high disposable income, increased trend of pet humanization, presence of several top pet training service providers, and increased awareness regarding the benefits of training pets are some of the major factors that has led to the dominance of North America in the global market.
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The most prominent players operating in the pet training services industry includes Best friends, Beyond The Dog, Big Valley Dog training, Brunell Pet Services, Camp Bow Wow, Dog Gone Fun, Every Dog Behavior and Training, Family Dog Training Centre, Highland Canine Training, LLC., Licks and Loves, K9 GTA, Noble Beast Dog Training, Papp’s Dog Training Services, USA Dog Behavior, W.A.G.S 4 Kids, Canine Solution International (K9SI), K9 Bond, Hill’s Pet Nutrition, Inc., Delta One Canines, and Viking – Dog Training.
Key findings of the study:
○ The global pet training services market size was valued at $3,827.4 million in 2021, and is estimated to reach $6,836.9 million by 2031, registering a CAGR of 6.0% from 2022 to 2031.
○ By pet type, the cats segment is estimated to witness the fastest growth, registering a CAGR of 6.6% during the forecast period.
○ In 2021, depending on the purpose, the standard segment was valued at $2,652.6 million, accounting for 69.3% of the global market share.
○ In 2021, the U.S. was the most prominent market in North America, and is projected to reach $1,041.8 million by 2031, growing at a CAGR of 5.2% during the forecast period.
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