30+ Powerful Pet Industry Statistics [2023]: Trends, Facts, And Market Projections - Zippia (2024)

Pet industry research summary. The pet industry continues to boom as an increasing number of young people buy pets and treat them as family members. These trends also mean that the pet industry is only expected to grow in the years to come. Here are the most powerful pet industry statistics:

• 70% of American households own at least one pet.

• The average U.S. pet owner spends $1,332 a year on their pets’ expenses.

• On average, U.S. pet owners spend $687 a year on their cats and $1,201 on their dogs.

• The U.S. pet industry is worth $76.8 billion.

• The U.S. pet industry is expected to have a CAGR of 5.3% from 2020 to 2025.

For further analysis, we broke down the data in the following ways:
Trends and Projections | Types of Pets | Pet Owner Spending | Pet Owners

General pet industry statistics

The pet industry has been successful in the U.S. and around the world for some times now. This success comes from the profits driven by pet food, toys, healthcare, and more. To dive into just how successful the global and U.S. pet industry is, here are some general facts you should know:

• The global pet industry is valued at $222.93 billion.

• The U.S. pet industry is worth about $76.8 billion as of 2020.

• The U.S. has a market share of 40% of the pet industry.

• 70% or 90.5 million U.S. households own at least one pet.

Pet industry statistics by trends and projections

The pet industry is projected to grow, just as we mentioned in the introduction. This is because pet ownership is more popular than ever with younger generations, and acquiring typical and unique pets (as well as the knowledge to take care of them), is also easier than ever before. With that in mind, here are some interesting trends that can be seen in the pet industry:

• U.S. pet industry expenditures have increased from $90.5 billion in 2018 to $103.6 billion in 2020.

  This is an increase of $13.1 billion in just two years, and the total grew to reach $109.6 billion in 2021.

  

• U.S. pet industry sales have increased from $50.96 million in 2011 to $109.5 million in 2021.

  Here is the breakdown of the industry’s annual sales during this period:

  Pet Industry Annual Sales

  Year	Total Sales
  2021	$109.5 million
  2020	$103.6 million
  2019	$95.7 million
  2018	$90.5 million
  2017	$69.51 million
  2016	$66.75 million
  2015	$60.28 million
  2014	$58.51 million
  2013	$55.53 million
  2012	$53.15 million
  2011	$50.96 million

• During the COVID-19 pandemic in 2020, the global pet industry saw growth of about 28%.

  This is due to people spending more money on their pets or buying new ones during the COVID-19 pandemic lockdowns. While the growth rate won’t remain this high, the industry is expected to keep growing, just at a more modest pace.

• The global pet industry is expected to reach $325.74 billion in 2028.

  Up from a value of $222.93 billion in 2021, the industry would see a CAGR of 5.6% during this period.

• The U.S. pet industry is forecasted to see a CAGR of 5.3% from 2020 to 2025.

  This growth is mainly fed by an increase in the number of millennials becoming pet owners and their commonly held view that their pets are family members. As a result of this viewpoint, these pet owners are willing to spend more money on their animals than past generations were.

• The three largest pet food companies in the U.S. (and the world) are Mars Petcare Inc., Nestlé Purina PetCare, and Hill’s Pet Nutrition. These companies earn annual revenues of about $19 billion, $16.5 billion, and $3.311 billion, respectively.

Pet industry statistics by types of pets

The types of pets owned in the U.S. aren’t just limited to cats and dogs. Although cats and dogs still remain the most popular pets in the U.S., you might be surprised that millions of households own fish, birds, reptiles, and other unique pets. If you want to learn more, here are some interesting facts about the types of pets owned:

• 69 million U.S. households own at least one dog.

  See Also

  Top Five Trends in Pet Care75+ Amazing Pet Industry Stats (2024)11 Huge Trending Pet Products (2024 & 2025)The Cutest Pets, According to Science | MoneyBeach

• 45.3 million U.S. households own at least one cat.

• 11.8 million U.S. households own at least one freshwater fish.

• 9.9 million U.S. households own a bird.

• 5.7 million U.S. households own a reptile.

• There are over 58.39 million pet cats in the U.S.

• There are over 76.81 million dogs in the U.S.

• The average pet owner spends $1,201 on their dogs each year.

• The average pet owner spends $687 on their cats each year.

Pet industry statistics by pet owner spending

Pet owners spend a lot of money on their pets, and that’s something the pet industry takes full advantage of. After all, how would we tell our furry friends we love them without new toys, treats, and the highest quality dry food? To find out more about what owners spend on their pets, here are some essential statistics.

• The average pet owner spends $111 a month on their pets.

  That adds up to $1,332 a year, and $13,000 over ten years, which is the average lifespan of pet dogs and cats.

• The average dog owner spends $287 a year on pet food, and the average cat owner pays $254 a year for their pet’s food.

  Here is the breakdown of the average expenses dog and cat owners encounter each year:

  Average Annual Pet Expenses

  Expense	Dog	Cat
  Food	$287	$254
  Surgical Vet Procedures	$458	$201
  Routine Vet Visit	$242	$178
  Kennel Boarding	$228	$78
  Food Treats	$81	$72
  Vitamins	$81	$47
  Toys	$56	$41
  Groomer/Grooming Tools	$47	$31

• As of 2018, the majority of pet owners buy pet products in brick-and-mortar stores.

  In 2018, 60 million U.S. households purchased pet products in a store, while just 13 million bought them online.

Pet ownership statistics

Pet ownership has become more popular over time, though it’s unclear if Gen Z will continue this trend. Either way, here are some telling facts about bet ownership in the U.S.:

• Millennials make up the majority of pet owners at 32%.

  Here is the generational breakdown of pet owners:

  • Gen Z: 14%

  • Millennial: 32%

  • Gen X: 24%

  • Baby Boomer: 27%

  • Builder: 3%

  

• White households make up 64.7% of pet owners.

  Not far behind, Latino/Hispanic households make up 61.4% of pet owners, and Black households have the lowest rate of pet ownership at 36.9%.

  See Also

  Pet insurance for all: Sweden's experience

  

• 73.8% of households who live in mobile homes own pets, the highest rate of any housing demographic.

  Households who live in houses are next, with 65.8% owning pets, and homeowners are more likely to own pets than renters are.

• 88% of millennials believe owning a pet is a good way to prepare for parenthood.

  Many members of this generation are also getting married and having children later than previous generations did, making pet ownership more appealing and accessible to this group.

Pet industry statistics FAQ

1. How much is the pet industry worth?

   The pet industry is worth $222.93 billion. This is in reference to the global pet industry, and it’s expected to grow in value over the next seven years, reaching $325.74 billion in 2028. This would result in a CAGR of 5.6%, similar to the CAGR the U.S. pet industry is expected to experience from 2020 to 2025: 5.3%.

   In addition, the pet industry saw $109.5 million in sales in 2021, an increase of almost $5 million from 2020, when sales were at $103.6 million.

2. Is the pet industry growing or shrinking?

   The pet industry is growing. In 2020, the pet industry grew by over 28%. While this was unusually high due to more people buying pets and pet supplies during the COVID-19 pandemic lockdowns, it is indicative of the overall upward swing of the pet industry.

   Over the longer term (2021-2028), the pet industry is expected to see a CAGR of 5.6%, reaching a value of $325.74 billion in 2028.

   The growth in this industry is fueled mainly by a high number of millennials buying more pets than generations before them and viewing them as members of the family.

   As a result of this attitude toward their animals, these pet owners are more willing to pay for more supplies, higher quality food, and even more expensive veterinary procedures than generations past were willing to.

3. What country holds the largest market share of the global pet industry?

   The U.S. holds the largest market share of the global pet industry. With a market share of 40%, the U.S. is by far the largest player in the global pet industry, as the next-highest shareholder is Brazil, which holds only about 5%. Germany and the U.K. are next, holding 4.9% each, and France rounds out the top five with 4.5%.

   The U.S. pet industry is worth about $76.8 billion, and it’s expected to see a CAGR of 5.3% from 2020 to 2025. The global pet industry is expected to see a similar CAGR of 5.6% from 2021 to 2028.

4. Which sector of the pet industry is the largest?

   The largest sector in the pet industry is the pet food market, which is worth approximately $91.1 billion worldwide. Pet food alone makes up 36% of the industry, followed by vet care (27%), supplies (23%), groom and board (10%), and lastly, the animal purchases themselves (4%).

Conclusion

The pet industry is a huge, growing enterprise that shows no sign of slowing down. 70% of U.S. households own at least one pet and spend an average of $1,332 a year on those pets. As a result, the U.S. pet industry has reached a value of $76.8 billion, and it’s only expected to continue to grow at a CAGR of 5.3% from 2020 to 2025.

The U.S. makes up 40% of the global pet industry, worth $222.93 billion. This worldwide market is expected to grow at a similar CAGR as the U.S.’s industry: 5.6%.

The U.S. pet industry saw massive growth during 2020, fueled by the COVID-19 pandemic lockdowns. While that source of growth has slowed down, an increasing number of millennials owning pets that they view and treat as family members — spending more money on them than previous generations did — will continue to feed the industry’s expansion.

References

1. Fortune Business Insights. “Pet Care Market Size, Share & COVID-19 Impact Analysis, By Product Type (Pet Food Products, Veterinary Care, and Others), Pet Type (Dog, Cat, and Others), Distribution Channel (Online and Offline), and Regional Forecast, 2021-2028.” Accessed on March 24, 2022.

2. Globe Newswire. “Global Pet Care Market Research Report 2021: Multi-Billion Market is Driven by Rising Prevalence of Zoonotic and Foodborne Diseases, Spending on Pet Care Rises.” Accessed on March 24, 2022.

3. Statista. “Share of the Pet Market Worldwide as of March 2020, by Leading Country.” Accessed on March 24, 2022.

4. Statista. “Household Penetration Rates for Pet-Ownership in the United States From 1988 to 2020.” Accessed on March 24, 2022.

5. APPA. “Pet Industry Market Size, Trends & Ownership Statistics.” Accessed on March 24, 2022.

6. Statista. “Pet Market Sales in the United States From 2011 to 2021, by Category.” Accessed on March 24, 2022.

7. Mordor Intelligence. “United States Pet Market – Growth, Trends, COVID-10 Impact, and Forecasts (2022-2027).” Accessed on March 24, 2022.

8. Statista. “Number of Pet Owning Households in the United States in 2021/22, by Species.” Accessed on March 24, 2022.

9. AVMA. “U.S. Pet Ownership Statistics.” Accessed on March 24, 2022.

10. Statista. “Average Annual Expenditure on Dogs and Cats in the United States as of 2020, by Category.” Accessed on March 24, 2022.

11. Study Finds. “Average Person Spends $111 Each Month (or $13K Over 10 Years) on Their Pets.” Accessed on March 24, 2022.

12. Insurance Information Institute. “Facts & Statistics: Pet Ownership and Insurance.” Accessed on March 24, 2022.

13. Statista. “Number of Households Buying Pet Products in Retail Stores Vs. Online in the United States From 2013 to 2018.” Accessed on March 24, 2022.

14. AVMA. “AVMA Pet Ownership and Demographics Sourcebook.” Accessed on March 24, 2022.

15. Petfood Industry. “Top Petfood Companies Current Data.” Accessed on March 13, 2023.