Despite an economy-related dip in discretionary pet services, the overall U.S. market for pet care services will grow annually by about 9 percent and exceed $34 billion by 2013, according to a report from the market research firm Packaged Facts. That growth is faster than the annual 7 percent rate in the past five years, during which time the market grew from $17.1 billion in 2004 to $22.7 billion in 2008, according to Packaged Facts, a unit of Market Research Group in New York. Veterinary services accounted for 75 percent of the overall pet care services market and will lead growth in the overall market. “Because veterinary services are the most essential type of service, sales in this channel will be the least effected by the economic downturn while continuing to lead market growth, with services including grooming, training and boarding being harder hit in the short term but fully rebounding by 2011,” said Tatjana Meerman, publisher of Packaged Facts. Grooming accounted for 11 percent of the market in 2008, boarding 6 percent and training 5 percent. The report, Pet Care Services in the U.S., 3rd Edition: Riding the Multiservice, Premium/Luxury and Corporate Waves, also highlights a broadening array of services, including mobile grooming, pet walking and sitting, and waste removal services, as a growth driver. Other drivers include aging human and pet populations and a continued strengthening of the human-animal bond. <HOME>
