Pet Care Services
Companies in this industry provide grooming, specialized training, and boarding services for companion animals. Major US companies include Best Friends Pet Care, PETCO Animal Supplies, and PetSmart.
The global pet care market is forecast to reach about $240 billion by 2026, at a 5.2% compound annual growth rate (CAGR), according to a new market study published by the Global Industry Analysts Inc (GIA). Moreover, the growth in the pet foods market was driven by the spike in the number of pets around the world and the rising disposable incomes of people over the years. India, China, the US, Indonesia, and Pakistan are among the top countries with the most pets, according to the World Population Review.
The US pet care services industry includes about 18,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $5 billion. The industry includes animal shelters. Services provided by veterinarians and pet supplies retailers, which are not included in the industry, are covered in the Veterinary Services and Pet & Pet Supplies Stores profiles, respectively.
Competitive Landscape
Demand is driven mainly by the number of cats and dogs kept as pets, which is affected by demographics and economic conditions. The profitability of an individual pet care company depends on marketing skills, reputation, and the range of services offered. Large companies enjoy economies of scale in marketing as well as better access to capital to invest in boarding and grooming equipment and in training programs. Small practices can compete effectively by specializing in particular animals or types of grooming or training, or by serving an exclusive area.
The US industry is highly fragmented: the 50 largest companies account for about 10% of revenue. A typical pet care services company maintains fewer than five employees and generates less than $500,000 in revenue.
Competitors include veterinary clinics and animal hospitals that also bathe, groom, and board animals.
Products, Operations & Technology
Major industry revenue in the US comes from non-medical services (about 50%) and pet boarding (more than 20%) services. Other services include pet grooming,
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