Global Pet Preservation Services Market to Hit Valuation of USD 112.7 Million by 2032 | Freeze Drying Services Controlling 62% Revenue Says Astute Analytica

The pet preservation market is experiencing growth driven by deep owner-pet bonds, with a trend towards personalized, high-end services. Rising awareness and technological innovations like AR/VR further fuel expansion. However, high costs, ethical concerns, and the potential emotional toll present challenges within this evolving market landscape.

New Delhi, April 02, 2024 (GLOBE NEWSWIRE) -- Global pet preservation services market is projected to surpass the market valuation of US$ 112.7 million by 2032 from US$ 88.6 million in 2023 at a CAGR of 2.71% during the forecast period 2024–2032.

The pet preservation services market presents a unique and lucrative growth opportunity. Fueled by the deep emotional connection between pet owners and their companions, this market has witnessed a substantial 8% rise in consumer spending over the last five years. Millennials, a tech-savvy demographic representing 35% of pet owners, are driving the demand for diversified preservation services. They are willing to spend, on average, $1,200 to $3,000 on various methods, underscoring the market's strong revenue potential.

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Technological advancements further enhance the outlook. The integration of biotech for DNA preservation raises both possibilities and ethical debates. Simultaneously, the increasing popularity of AR and VR for virtual pet memorials offers an immersive and personalized approach to remembrance, with a projected market share growth of 15% by 2025 in the pet preservation services market. These technologies currently capture 10% of the pet memorialization market, further solidifying the industry's potential.

Importantly, 70% of pet owners consider memorialization a significant step in their grieving process, and 85% of those utilizing pet preservation services report high satisfaction rates. This demonstrates the emotional value these services provide and their positive impact on emotional well-being. As ethical considerations gain prominence, with 40% of consumers concerned about environmental impact, companies committed to reducing their carbon footprint by 20% will garner favor. This focus on sustainability strengthens the market's appeal and ensures its long-term growth trajectory.

*Pet Preservation Services Market Highlights*

· The average cost of preserving a pet through taxidermy or freeze-drying can range from $500 to over $2,000 depending on the size of the animal and the pose desired 
· Smaller pets like birds, rabbits, and cats can take 3-6 months to fully preserve, while larger pets like big dogs can take over 7 months.
· An estimated 7% of pet owners get their deceased pets taxidermied, with dogs and cats being the most common.
· There are over 100 pet taxidermy and freeze-dry specialty businesses operating in the United States as of 2023.
· The pet taxidermy industry generates approximately $25-30 million in revenue annually in the U.S. 
· Cremation is still the most popular aftercare option, with over 90% of pet owners opting for private or communal cremation for their pets.

*Key Findings in Global Pet Preservation Services Market *

Market Forecast (2032) US$ 112.7 million
CAGR 2.71%
Largest Region (2023) North America (48.3%)
By Type Freeze Drying Preservation Services (62.3%)
By Application  Dog (57.6%)
Top Trends · Demand for personalized and high-end memorialization options.
· Integration of technology like AR/VR for virtual pet memorials.
· Growing focus on the environmental impact of pet preservation processes.

Top Drivers · Deep emotional connection between owners and their pets.
· Rising popularity of pet humanization and treating pets as family.
· Increased awareness of pet preservation options and services.

Top Challenges · High cost of some pet preservation services.
· Ethical concerns surrounding certain preservation methods.
· Potential for emotional distress during the preservation process

*Freeze Drying Services Leading the Global Pet Preservation Services Market, Control, 62% Share*

Freeze-drying is rapidly gaining popularity in the pet preservation services market market, attributed to its ability to provide a more natural and lifelike preservation compared to traditional taxidermy or cremation. This method retains the pet’s physical appearance, with providers noting that the pet’s final preserved form closely resembles its original state. The increasing humanization of pets further drives this trend, as owners seek memorialization methods that honor the deep emotional connection they had with their beloved companions. Freeze-drying provides a tangible way to keep the pet's memory close. Additionally, growing awareness of freeze-drying as a viable option, thanks to media coverage and online resources, leads more pet owners to consider this alternative to burial or cremation.

Several companies across the global pet preservation services market specialize in pet freeze-drying, such as Animal Family Pet Preservation (Illinois), offering both pet taxidermy and freeze-drying with a lifetime warranty.  Second Life Freeze Dry (Pennsylvania) focuses solely on freeze-drying pets and wildlife, highlighting the emotional aspects of the service for owners. Rest Well Pet Memorials offers options including freeze-drying, anticipated in fall 2023.  The freeze-drying method is time-consuming, typically taking 3-6 months for most pets, and up to a year for very large animals. This premium service comes with costs reaching $1,000 for a cat and up to $2,000 for a dog. Some providers observe an increase in interest and inquiries from pet owners throughout the freeze-drying process, demonstrating the profound emotional ties inherent in this decision.

*Dogs are at the Center of Pet Preservation Services Market, Captures 57% Market Share*

The global pet population, with approximately 471 million dogs and 373 million cats, provides a vast potential market for pet preservation services. The United States leads in pet ownership with nearly 90 million dogs and over 65 million cats, while China holds the third-largest dog population at over 54 million. The COVID-19 pandemic spurred a significant increase in pet ownership worldwide. In the U.S. alone, pet adoption rates soared by 40%, and 30% of respondents reported adopting a pet during the pandemic – a trend driven by Gen Z and Millennial demographics. This surge, observed in countries like the UK as well, highlights a growing bond between humans and their companion animals, potentially fueling the future demand for pet memorialization and preservation services.

*Trend: Personalized and High-End Services Witnessing Strong Demand *

Pet owners increasingly prioritize personalized and high-end services to commemorate the exceptional connection they shared with their beloved companions. This trend in the pet preservation services market reflects the desire to capture the pet's unique personality and create a lasting, meaningful tribute. Options like figurine urns, showcasing a likeness of the pet's breed, or photo urns adorned with the pet's image, provide a personalized and visual reminder of the bond between pet and owner. Memorial jewelry, such as necklaces containing a small portion of ashes, offers a way to keep the pet's memory close. Keepsakes featuring actual paw prints preserve a tangible element of the pet's presence.

The robust growth of the pet memorialization industry, projected to reach $2.4 billion by 2025, underscores this trend. Personalized urns encompass a wide price range, from $50 for simpler engraved options to over $1,000 for highly customized pieces. Surveys indicate strong interest in personalized memorials, with 51% of pet owners inclined towards such services. Market data reveals a 40% growth in demand for unique and customized urns within the last decade. High-end memorial providers are experiencing impressive 20-30% annual growth rates, highlighting the rising demand for these services. Memorial jewelry has seen particularly significant growth, some providers reporting a 70% sales increase. Engraved memorial stones are also popular for creating dedicated spaces. While dogs and cats remain the primary focus, the trend towards personalization extends to more exotic pets like birds and reptiles, demonstrating a desire to honor the lives of all cherished animal companions.

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*North America: A Dominant Market for Pet Preservation Services With over 48% Revenue Contribution*

North America stands as a major hub for the pet preservation services market, fueled by several key factors. Firstly, the region boasts a large and growing pet population. The 2023-2024 APPA National Pet Owners Survey reveals that a substantial 66% of U.S. households own a pet, representing a notable increase from 56% in 1988. This translates to approximately 86.9 million homes with pets, with dogs residing in 65.1 million households and cats in 46.5 million. Millennials, known for their deep emotional connection with pets, make up the largest percentage (33%) of pet owners in the U.S.

This love for pets translates into significant spending on pet products and services. In 2021 alone, U.S. pet owners spent a staggering $93.95 billion directly on their pets, with food and treats accounting for a substantial $50 billion. The U.S. pet care market has seen impressive growth, expanding by over 66% in the last decade, a rate outpacing the global economy's growth. Americans' per-person spending on pet supplies and accessories surpasses any other country, totaling over $72 billion in 2023. Importantly, 35% of U.S. pet owners report increased spending on their pets in the last 12 months, encompassing various aspects of pet care in the pet preservation services market.

The deep emotional bond between humans and their pets is a driving force behind this expenditure. Pet owners in North America increasingly prioritize their personal values when choosing products, demonstrating a humanizing approach to pet care. The pandemic further deepened this bond, fostering a desire to honor and memorialize beloved companions, likely fueling the growing demand for personalized and high-end pet preservation services. Several notable companies cater to this market, including Perpetua Life Jewelry, Precious Pets Urns, Paw Pods, and Cuddle Clones, offering a range of unique memorialization options for discerning pet owners.

*Global Pet Preservation Services Market Key Players *

· AEWS Pet Preservation
· Alessandra Dzuba
· Animal Family Pet Preservation
· Bischoff Pets
· Gotham Taxidermy
· Indian Creek Taxidermy
· Perpetual Pet
· Precious Creature
· Preserved Pets
· Second Life Freeze Dry
· WHAM Preservation LLC
· Wyrick
· Xtreme
· Other prominent players

*Key Segmentation:*

*By Type*

· Freeze Drying Preservation Services
· Taxidermy Preservation Services
· Others

*By Application*

· Cat
· Dog
· Bird
· Others

*By Region*

*America*

· The U.S.
· Canada
· Mexico
· Brazil
· Rest of Americas

*Europe*

· The UK
· Germany
· France
Italy
· Russia
· Rest of Europe

*Asia Pacific*

· China
· India
· Japan
· Australia
· South Korea
· Southeast Asia
· Rest of Asia Pacific

*Middle East & Africa (MEA)*

· GCC
· Egypt
· Turkey
· Israel
· South Africa

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*About Astute Analytica*

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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CONTACT: Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website:  https://www.astuteanalytica.com/