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How has the pet funeral services market grown in recent years?

Recent years have witnessed a swift expansion in the market size for pet funeral services. The market is projected to expand from $1.65 billion in 2024 to $1.83 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.1%. The historic growth of this market has been driven by factors such as surge in pet ownership, the humanization of pets, raised awareness and acceptance, a shift towards personal services, and an increase in overall pet spending.

How is the pet funeral services market size expected to evolve during the forecast period?

Anticipated swift expansion is on the cards for the pet funeral services market in the upcoming years. The valuation is forecasted to touch $2.76 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.9%. The projected growth can be attributed to several factors including a rise in the humanization of pets, an extended range of service offerings, stricter regulations and standards for pet cremation, increasing acceptance of pet funerals, and an upturn in disposable income. Key trends expected to shape the forecast period incorporate the adoption of cutting-edge cremation technologies, the use of water-based cremation methods, the availability of online memorial services, virtual commemoration options, and the implementation of automated scheduling systems.

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Which key drivers are propelling the pet funeral services market’s growth?

The growth of the pet funeral services market is anticipated to be fueled by rising rates of pet companionship. The term pet companionship rates describes the level or number of households or people who possess and look after pets, symbolising the expanding occurrence of pet ownership and bonds between humans and animals. The escalation in pet companionship rates is propelled by factors such as the growing acknowledgment of the emotional and psychological advantages of owning a pet, urbanisation, and an increase in single-person households in need of companionship. Pet funeral services lend emotional support and closure to pet owners by enabling them to pay their respects and remember their pets. For instance, a report by the People’s Dispensary for Sick Animals, a veterinary charity based in the UK, projected that in June 2024 the number of pet dogs in the UK would be around 10.6 million, an increase from 9.6 million in 2021. Consequently, the escalation in pet companionship rates will facilitate the growth of the pet funeral services market.

What are the market segments in the pet funeral services industry?

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 leading companies are shaping the growth of 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 key trends are currently impacting the pet funeral services market’s development?

Leading firms in the pet funeral services sector are shifting towards more earth-friendly alternatives like aquamation to cater to the increasing consumer demand for eco-friendly and sustainable end-of-life solutions. Aquamation is a green practice for body disposal that employs water, alkali, and heat to decompose the body to its fundamental components, providing a more sustainable option compared to the traditional methods of cremation and burial. For instance, The Green Mortician, a pet funeral service firm based in Singapore, introduced the first-ever pet aquamation service in Singapore in March 2023, providing a greener alternative to the conventional method of cremation. This technique, also known as alkaline hydrolysis, involves the use of hot water and alkaline chemicals to deteriorate the body, accomplishing a natural decomposition with nearly 90% less energy use and zero harmful emissions. Aquamation, which presents a considerably smaller carbon footprint than traditional methods, uses about 800 liters of water per cycle, which is akin to the daily water consumption of a household of five.

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Which geographic areas are influencing the growth of 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.

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