In 2023, U.S. consumers expended $147 billion on pet products and services, as reported by the American Pet Products Association (APPA). The association also predicts steady year-over-year growth through 2030, with anticipated expenditures reaching a staggering $250 billion.
The APPA released this data during the Global Pet Expo and highlighted it in the first of four quarterly reports titled "APPA’s State of the Industry: Strategic Insights from the National Pet Owners Survey 2024."
"The data has shown that the pet industry has remained incredibly strong since 2009 despite wide-scale economic challenges. While there are signs of slowing, the industry is resilient, especially compared to other industries," stated Peter Scott, APPA President and CEO.
The press release further detailed consumer spending within the pet industry's four major product and service categories. Consumers spent $64.4 billion on pet food and treats; $32 billion on supplies, live animals, and over-the-counter medicine; $38.3 billion on vet care and product sales; and $12.3 billion on other services including boarding, grooming, insurance, training, pet sitting and walking, along with all services outside of veterinary care.
The report also revealed that household pet ownership has returned to pre-pandemic levels. It noted a shift in consumer purchasing behavior post-COVID towards a balance between online platforms and physical stores.
According to the press release, millennials remain the largest demographic of pet owners. However, Gen Z is rapidly catching up which may necessitate changes in how companies market their pet products and services. Ingrid Chu, APPA’s Vice President of Insights and Research commented: "While brick-and-mortar is still a big driver of awareness of new pet products, social media is equally important among the younger generations. Gen Z looks to visual platforms like TikTok, YouTube, and Instagram to learn about new pet products—indicating that pet brands will need to consider more visual media to reach their younger audiences."
