August 11, 2022 11:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Aug. 11, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the pet transporting service market is forecast to reach US$ 522 Mn in 2022. Demand is projected to increase at a 4.5% CAGR with the market size reaching US$ 812 Mn by 2032.
As per the analysis, the pet transport services has rapidly increased due to high pet adoption rates. Furthermore, the increase in international travel has led to high demand for commercial animal transport.
However, because of long-distance transporting, there are some concerns among pet owners about delivery security, and strict authority restrictions in a few countries are limiting the growth of the pet carrier business. On the other hand, an increasing number of mergers and acquisitions involving major players in the market is expected to generate a number of growth opportunities for the pet delivery service throughout the forecast period.
“Growing preference for value-added services in pet transporting to avoid separation anxiety in companion animals, along with high demand for luxury accommodation services for pets is expected to create opportunities for growth in the market,” says an FMI analyst.
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Pet Transporting Services Market by Category
Leading players operating in the global pet transporting service market are Happy Tails Travel Inc., Pet Flight Inc., Worldwide Animal Travel, Air pets International, Animal Travel Services, Royal pews Blue Collar Pet Transport, Animals Away and others.
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3.5. PESTLE and Porter’s Analysis
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