Pet Industry Reaches $123 Billion in Sales

Pet Industry Reaches $123 Billion in Sales

The American Pet Products Association has found that in 2021, the pet industry has reached an approximate $123.6 billion dollars in sales in the US alone.

Compared to 2020, a previous record year when the industry reached $99 billion, the sales grew by 13.5%. This is a massive feat in the midst of the global pandemic, considering all the logistics issues.

The experts expect the industry to grow further during 2022, but the growth is not likely to be as drastic as in 2020 and 2021. There are many more issues with the supply and ingredient shortages due to war conflicts in Europe and inflation. 

Moreover, some owners already see the $1,201 annual cost of owning a dog and $1,149 of owning a cat to be too much.

Of the $123 billion spent, it’s no surprise that most pet owners spent the money on pet food and treats. All of this amassed $50 billion and grew by 13.6% compared to the 2020 numbers.

Other segments have also grown a lot:

  • Vet products and care were the second largest spending category for pet owners. They reached $34.3 billion in sales and grew by 8.9% in a year.
  • OTC medications, live animal sales, and supplies had the largest growth of 17.8% and reached $29.8 billion.
  • Grooming, boarding, and other services increased by 17.3% and reached $9.5 billion.
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