Pet Transport Service Market size will grow at a CAGR of 6.60% from 2023-2030: Cognitive Market Research
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Introduction of?Pet Transport Service Market
The growing worldwide mobility of pet owners and the increasing globalization of society are important drivers. Pet transport services are increasingly in demand as more people and families cross international borders. Due to this factor, there is a significant opportunity for service providers to broaden their clientele and meet the rising need for easy cross-border pet travel.?
These developments empower businesses to offer better-tailored solutions, which, in turn, contribute to the growth of the pet transport travel type industry.?
For instance, for over 30 to 50 years, some of the biggest players in the industry, like Airpets International and Pets Abroad UK, have offered various domestic and international travel options for pets.
Key Insights from Pet Transport Service Market Report
The Global pet transport service market size was USD 0.65 billion in 2022. pet transport service Industry's Compound Annual Growth Rate will be 6.60% from 2023 to 2030.
What are the Major Trends in the Pet Transport Service Market?
Pet owners' increased demand for pet inclusion is expected to drive growth in the worldwide pet travel services industry. The globe is seeing a transformation in how animals are treated, including how they are housed and transported. Pet owners are becoming more conscious of their rights and calling for inclusion. Worldwide, various international and domestic organizations work tirelessly to guarantee that animals are not mistreated while being cared for at home or transported from one area to another.?
Furthermore, pet tourism is seeing exponential growth due to various causes, including an increasing number of families ready to pay extra money for traveling with pets and changing attitudes. Increased investment in creating pet-friendly infrastructure in developed and developing countries is also a major driver of worldwide business growth. This is aided further by the increase in players offering quality services at reasonable pricing.??
In the United States and Canada, more than 50 pet travel companies are recognized by the International Pet and Animal Transportation Association (IPATA).
Factors Limiting the Market Growth for Pet Transportation
However, the global sales volume in the pet travel services sector may be hindered by several factors throughout the projection period. Concern should be expressed over factors including rising pet missing-pet rates and animal fatalities during transportation. For example, between 2015 and 2017, United Airlines noted that approximately 75% of the animals it transported died. Less revenue may also result from other problems, including the frequency of animal health problems varying by breed and transportation.
Impact Of COVID-19 on the Pet Transportation Services Market
Due to travel restrictions and adjustments to air travel regulations, the COVID-19 pandemic has substantially influenced the market for pet travel services, causing a fall in demand for pet airlines and transport businesses. As a result of regulatory changes, several airlines have stopped offering pet travel services, and it is now harder and more expensive to transport pets internationally. But as pet adoption and fostering have increased, and people have relocated, there has been a rise in demand for pet transportation services. It is anticipated that as the world adjusts to the epidemic, the market for pet travel services will change.
Pet Transport Service Market Analysis
By Pet Type, the Dogs Segment Dominate?the Pet Transport Travel Service Market
According to Cognitive Market Research, dogs are the most frequently traveled in the pet transport travel services market. Dogs have been a popular travel companion choice among pet owners because they are inherently friendly and active. They are practical because they are flexible and simple to adapt during extended journeys. Due to the growing popularity of dogs as travel companions, hotels and other travel destinations are forced to offer more dog-friendly amenities.?
Cats are the second-most used product. While dogs rule the market, cats are still necessary for some pet transport travel services. With over 200 million cats held in households globally, the cat segment of the industry has developed into a valuable and expanding niche. Cat owners increasingly seek safe and comfortable travel solutions for their feline companions.
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Top Companies Market Share in Pet Transport Service Industry:
American Airlines , Amerijet International , Copa Airlines , Delta Air Lines , 得斯威国际货运有限公司 , 联邦快递 , PetRelocation , IAG Cargo , Official IPATA Group , PETspot Group , Southwest Airlines , United Airlines , and Others
Pet Transport Service Industry News:
Pet Transport Service Regional Analysis:
According to Cognitive Market Research, North America dominated the market in 2022 and accounted for a share of more than 36% of the global revenue due to several variables. This portion can be attributable to the rising cost of pets and a sizable pet population, respectively. Additionally, several regional providers provide a substantial number of cutting-edge For instance, the International Pet and Animal Transportation Association (IPATA) has more than 50 pet travel companies licensed in the United States and Canada.
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According to Cognitive Market Research, due to its significant economic size, vast global corporate presence, and diversified population, the United States is anticipated to hold a strong position in the North American area. Over the course of the forecast period, the market for pet transport services in North America is anticipated to be dominated by the United States. Pet owners use these services to relocate, travel large distances with their pets, and reclaim lost pets.
The region's strong economy and significant presence of multinational firms create a considerable demand for pet transport travel services, which promotes global trade and business growth. The quickest CAGR of over 11.4% is predicted for Asia Pacific during the forecast period. The region's pet care costs are increasing due to rising disposable income and interest in adopting companion animals.
Frequently Asked Questions (FAQs)
In 2022, what will be the size of the pet travel service market?
What would be the market growth rate for pet travel services throughout the anticipated period?
What is the market's largest region for pet travel services?
Which region is anticipated to expand the quickest in the upcoming years?
In 2022, which nation will command the pet transport travel type market?
What are the main factors influencing the market for pet transportation services?
Based on the type of pet, what is the largest market category for pet transportation services?
Which travel type represents the largest market segment for pet transport services?
According to the type of reservation, which is the largest market category for pet transportation services?
Which application makes up the majority of the market for pet transport travel services?
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