What Is The Current and Historic Market Size Analysis Of The Pet Funeral Services Market?
The pet funeral services market has seen considerable growth due to a variety of factors.
• In recent times, the market size for pet funeral services has seen swift expansion. Forecasted to balloon from $1.65 billion in 2024 to $1.83 billion in 2025, this signifies a compound annual growth rate (CAGR) of 11.1%.
Factors stimulating this growth in the historical period include an upsurge in pet adoption, heightened human-pet bonding, escalating awareness and understanding, a trend towards more personalization, and an increase in spending on pets.
What are the Market Size and Expected Growth Rates for the Pet Funeral Services Market?
The pet funeral services market is expected to maintain its strong growth trajectory in upcoming years.
• The pet funeral services market is predicted to witness a swift expansion in the coming years, reaching a valuation of $2.76 billion in 2029 with a compound annual growth rate (CAGR) of 10.9%.
The expected growth in the forecast period is likely due to factors such as the increasing trend of treating pets like family members, the broadening of service options, stricter regulations and standards for pet cremation, greater acceptance of pet funeral rituals, and a rise in available personal income. Some significant trends projected for this period include the adoption of advanced cremation technologies, utilization of cremation methods that use water, the growth of online memorial services, emerging options for virtual commemorations, and the implementation of automated scheduling systems.
Which Key Drivers Are Propelling The Pet Funeral Services Market's Growth?
The anticipated expansion of the pet funeral services market is largely attributed to the rising levels of pet companionship. This term represents the number or percentage of households or individuals that possess and look after pets, symbolizing the escalating trend of pet ownership and bonds between animals and humans. The surge in pet companionship rates can be ascribed to factors like an increased understanding of the emotional and mental health advantages of having pets, urbanization, and an increase in sole occupant households seeking companionship. The role of pet funeral services is vital as they offer emotional support and closure to pet owners, aiding them in paying tribute to and remembering their pets. For instance, a report by The People's Dispensary for Sick Animals, a veterinary charity in the UK, in June 2024 cites that the UK is expected to house around 10.6 million pet dogs, a rise from 9.6 million in 2021. So, the escalating rates of pet companionship are anticipated to fuel the expansion of the pet funeral services market.
What Are The Key Segments Within The Global Pet Funeral Services Market?
The pet funeral services market covered in this report is segmented –
1) By Type: Indoor, Outdoor
2) By Service Type: Burial, Cremation, Communal, Partitioned, Private
3) By Pet Type: Dogs, Cats, Other Pet Types
Subsegments:
1) By Indoor: Cremation Services, Indoor Memorial Services, Pet Viewing Rooms, Indoor Burial Services, Grief Counseling And Support Services
2) By Outdoor: Outdoor Burial Services, Scatter Garden Services, Memorial Tree Planting, Pet Burial Markers and Memorial Stones, Outdoor Pet Cremation and Scatter Services, Nature-Based Memorial Services
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Which Emerging Market Trends Are Altering The Pet Funeral Services Industry?
Key players in the pet funeral services sector are shifting towards more environmentally friendly processes such as aquamation due to a rise in consumer interest for sustainable and eco-responsible final care solutions. Aquamation is a planet-friendly body disposal procedure that involves the use of water, alkali, and heat to dissolve the body into fundamental elements, thereby presenting a sustainable substitute to conventional cremation and burial methods. For example, The Green Mortician, a pet funeral service from Singapore, introduced the country's first pet aquamation service in March 2023, providing an eco-friendly alternative to traditional cremation. This process, also known as alkaline hydrolysis, involves the use of heated water and alkaline chemicals to decompose the body, achieving a natural breakdown using around 90% less energy and without releasing harmful emissions. Aquamation has a significantly lower carbon footprint than traditional methods, using around 800 liters of water per cycle, which is comparable to the daily water consumption of a five-person household.
Who Are the Key Players In The Pet Funeral Services Market?
Major companies operating in the pet funeral services market are:
• CVS Group plc
• Anima Care
• Lap of Love Veterinary Hospice
• Gateway Pet Memorial Services
• Vetspeed Ltd.
• Final Gift Pet Memorial Center
• Petland Cemetery Inc.
• Regency
• Pets in Peace
• Precious Pets Crematory
• Constant Companion Pet Crematorium
• Newhaven Funerals
• Paws to Heaven Pet Crematory
• Midwest Cremation Service
• Sarasota Pet Crematory
• Okanagan Pet Cremation
• Precious Pet Cemetery
• Dignity Pet Crematorium
• High Peak Pet Funeral Services
• Pets At Peace
• Pets Remembered
• Faithful Friends Pet Cremation Services
What Are The Regional Insights Into The Pet Funeral Services Market?
North America was the largest region in the pet funeral services market in 2024. The regions covered in the pet funeral services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
