As more pet parents are adjusting to new routines, such as going back to the office after working remotely or spending more time traveling than they have in the past few years, their furry family members may be facing some routine changes of their own.
With a stark contrast in the time we spend at home, dogs may be facing increased rates of separation anxiety from their pet parents. As a result, dog services that may have taken a dip during the height of the pandemic, such as dog daycare and boarding, are trending upward once again.
THE RISE OF MILLENNIAL PET PARENTS & THEIR SPENDING
Currently, millennials (born between 1981- 1996) represent the largest percentage of pet ownership in the US, according to the 2021-2022 APPA National Pet Owners Survey. Millennials also happen to be the largest living generation in America, making this a substantial audience for services in the pet industry to target.
According to a recent survey on this generation of pet parents, 49% say pampering their pet makes them happy, while 42% say they think of their pet as a child, and the same percentage say spending more time at home throughout the pandemic has made them feel closer to their pet. Therefore, it is no surprise that millennials spent the most on pet care throughout the pandemic than Baby Boomers (born between 1946 and 1964), who are the second-largest generation of pet owners in the US.
With the growing amounts of millennial pet parents and their increased spending, several dog services have seen (and will continue to see) significant growth as a result.
DOG DAYCARE AND BOARDING
The need for pet care is continuously growing as more pet parents are out of the house, either for the day or extended amounts of time on vacation. This is where dog daycare and boarding services come into play, as they can act as spaces to keep furry family members supervised, while also offering them care through playing, socialization, exercise, etc.
The global pet daycare and lodging market is expected to grow by $8.24 billion during 2020 – 2024, with a compound annual growth rate (CAGR) of 7%. There are several reasons for the growth in this market. Quality dog daycare services allow pet parents to know their furry family member is getting the attention that they deserve in a space designed just for them.
Daycare can also greatly assist dogs experiencing separation anxiety, something that has increased over the pandemic. A recent survey found that 53% of pet parents report their pup has experienced separation anxiety. Among those surveyed, the most common reported behaviors among the anxious pups include barking and howling, chewing on items around the house, and pacing. To cope, more than half of surveyed pet parents tried to keep their pup busy through exercise and engagement, which makes doggie daycare an appealing option, as socialization and exercise are some of the top benefits of daycare.
Dogs who spend the day at daycare get to play with other furry friends and engage in activities designed to keep their mind and body active. This can act as a much-needed distraction for pups while they are away from their pet parent, especially those who experience separation anxiety. It can also be reassuring to pet parents that their dog is being taken care of and not experiencing some of those distressing symptoms that separation anxiety can bring up.
Additionally, dog daycare can offer many health benefits for pups, such as increased physical and mental stimulation, making it a popular choice for pet parents who want to maintain their pup’s healthy lifestyle – something many desire, considering the large number of pet parents who consider their pup a member of their family.
Boarding services are also in greater demand this year, as many are getting back to travelling after the pandemic. Similar to daycare, pet parents can feel assured that their pup is being taken care of while they are away. Plus, boarding pups can enjoy the benefits of daycare throughout the day, making daycare and boarding a popular pairing for business owners in or entering the pet industry.
One of the reasons why doggie daycare and boarding services are in demand this year is thanks to the growing humanization of pets. For pet parents who are back to the office and can’t give their pup the quality time they’ve gotten used to, such as if they worked from home throughout the pandemic, doggie daycare has become an increasingly popular option.
The pet grooming market, which can include services such as hair trimming, brushing, nail trimming, and pet products like shampoos, is also growing. The global pet grooming services market is anticipated to reach $11.2 billion by 2027, with a 7.5% CAGR – the segment with the highest CAGR in the overall pet services market.
Pet health and wellness are significant for many pet parents. Again, this is thanks to the humanization of pets that have become increasingly apparent in recent years, which aids in the growth we see in this market.
There is also currently a high demand for the use of natural, sustainable products in pet grooming among pet parents, which can lead to them seeking out grooming services that offer such products.
The pet wearable market is showing major advances, with an expected worth of $3.45 billion by the end of 2027. This is a significant jump from the $1.43 billion reported in 2020, making it a 13.6% CAGR between 2021 – 2027.
Pet wearables are devices that pets wear to help identify them, monitor or track where they are and how they are feeling, activity levels, provide additional security, etc. Many pet parents find comfort in knowing they can keep track of their dogs and find ever greater details about their health that they couldn’t do otherwise without the device. With increasing concerns over pet health and wellness, especially with pup health issues like obesity on the rise, devices such as these can be appealing.
Similar to doggie daycare and boarding, many pet parents think of their dog as a family member, making finding more information about their pup very popular right now.
Telemedicine, which involves a doctor providing medical care and advice to patients remotely, became popular throughout the pandemic for humans, and this now extends to pet care.
Many pet parents are turning to their phones or computer cameras to receive health advice from veterinarians. This has become a popular option for pet parents who do not have a vet nearby or who want fast and reliable help when their pup needs it. As well, since millennials make up the largest population of pet parents, a digital option such as this can be very appealing, especially since many are familiar with how to access this type of service.
The latest data show the global veterinary telehealth market sat at $119.6 million in 2021 and is expected to grow significantly with a CAGR of 17.6% from 2022 – 2030.
BRINGING DOG SERVICES TO YOUR COMMUNITY
With services such as daycare, boarding, spa, pet wearables, and veterinary telemedicine growing in popularity, the pet industry can be a great market to enter as a franchisee. If you are interested in bringing a dog daycare to your community, we recommend checking out our detailed FAQ page for more information on the pet industry and what your investment can look like with Dogtopia.