The pet industry statistics clearly show that tastes in pets and pet care vary among humans. But whether you have a cat, dog, horse, bird, or snake, all these pets need healthy food, hygiene maintenance, a place to sleep, etc.
We’ve come up with some of the freshest statistics and facts that might surprise you.
The Key Pet Industry Statistics in Review
- It’s estimated the US pet industry reached $99 billion in 2020.
- 61% of US pet owners will pay more for foods to target pets’ dietary needs.
- Dog owners spend $73 a year on grooming.
- 21% of pet owners spent more money on pets during the Covid-19 pandemic.
- 31% of pet industry customers are Millennials.
- Cat and dog owners spend about $300 a year on pet food and treats.
- 12% of adults with kids under 18 adopted pets due to the Covid-19 pandemic.
- Over 50% of cat and dog owners give their pet a Christmas gift or treat.
- 69% of Millennials opt for their pets’ natural and organic products.
- 43% of dog owners and 41% of cat owners buy premium pet food.
Read on to discover more about the latest statistics and trends in the pet industry!
Pet Industry Market Size
The Pet industry consists of many significant branches. Pet food and treats, vet care and supplies sale, pet insurance companies, accessories, etc. These industries rake in millions of dollars each year. Here are the latest numbers.
1. It’s estimated the US pet industry reached $99 billion in 2020.
The industry is steadily growing, year by year.
It grew from $97.5 billion in 2019 to $99 billion in 2020. That’s $1.5 billion in only one year! Pet owners splurged on everything from pet food and treats to pet sitting, toys, and travel.
2. Forecast predicts the global pet care market will reach $358.62 billion by 2027.
Pet industry statistics from 2020 predict a compound annual growth rate of 6%. The growth is attributed to smart technologies. GPS pet collars, pet cameras, smart feeders, and other smart gadgets that make pet owners’ lives easier.
3. 61% of US pet owners are willing to pay more for foods that target their pets’ dietary needs.
The pet food industry is one of the most significant parts of the pet industry. Pet owners are more aware of the impact pet food has on their pets’ health.
Online pet food sales statistics reveal that 73% of pet owners buy food online. At the same time, 68% of them buy food in pet specialty stores.
The growth in the pet products industry can be attributed to the number of choices. There are tons of choices just for dogs, including:
- Regular, natural, and organic canned dog food
- Dry food for adult dogs
- Wet food for puppies
- Dry food for pups
With all the choices available, no wonder the industry is booming.
4. Vet care and product sales had a $30.2 billion revenue in 2020.
After pet food and treats, vet care and product sales were responsible for the pet industry growth.
5. Pet industry trends from 2020 report the global pet insurance industry reached $3.21 billion.
(Market Data Forecast)
People adore their pets, so it’s natural they want to provide the best possible pet insurance there is. With excellent accident, illness, and wellness coverage, the industry is becoming incredibly popular.
The latest pet insurance consumer report estimates that the global pet insurance industry will hit $5.89 billion by 2025.
6. 21% of pet owners have spent more money on their pets during the Covid-19 pandemic than pre-pandemic.
The pet care services industry statistics reveal that the pandemic wasn’t that rough on the pet service industry. 70% of pet owners spent more time with their pets during the lockdown and social distancing.
Statistics reveal that 64% of them spent the same amount of money as before the pandemic. However, 21% of pet owners splurged even more on their pets than pre-pandemic.
Pet Industry Trends for 2021
The trends are ever-changing, but here are some of the predictions for 2021 based on the statistics and facts from the previous year.
7. 31% of pet industry customers are Millennials.
(Pet Food Processing)
Millennials are the most numerous pet owners, but Baby Boomers aren’t much behind. They’re right behind with 29%, while Gen Xers follow with 26%.
Gen Z and Builder generations make up the rest of the pet owners.
So far, pet industry trends have shown that Millennials with pets also tend to use technology to purchase products and services.
The pet industry market research reveals this has helped form a robust market with an abundance of new pet-related business ventures. With this in mind, the pet market should continue to expand in size.
8. More than 67% of American households own at least one pet.
Annually, Americans collectively spend over $95 billion on their pets. The most significant portion of the spending goes on food and treats.
But, Americans also spend lots of money on pet care supplies and the pet services industry. The services include pet boarding, grooming, insurance, training, etc.
The American pet industry market size isn’t so surprising when you consider these kinds of factors.
9. 12% of adults with kids younger than 18 have adopted pets because of the Covid-19 pandemic.
(Pet Food Processing)
Even though the overall number of adoptions has decreased during the pandemic, the adoptions are still happening. The pet industry market research predicts that the pet food and treats market will thrive in 2021, as well, due to the pandemic.
10. 40% of dog owners and 25% of cat owners bought clothing for their pet in 2020, as pet industry statistics for 2021 reveal.
The trend of pet humanization has been on the rise for the last couple of years. As the latest statistics show, it doesn’t seem it’ll slow down any time soon.
More dog owners buy clothing for their pets. And they’re also more likely than cat owners to purchase both costumes and clothing.
11. According to the pet grooming industry statistics, dog owners spend $73 a year on grooming.
The American Pet Product Association (APPA) estimates that cat owners spend much less.
12. More than 50% of both cat and dog owners give their pet a Christmas gift or treat.
The pet humanization trend continues with Christmas gifts for dogs and holiday presents for cats. Moreover, statistics reveal that 50% of dog owners and about a third of cat owners celebrate their pet’s birthday.
Finally, a quarter of pet owners also celebrate Halloween with a pet present.
13. The pet food industry analysis estimates cat and dog owners spend about $300 a year on pet food and treats.
The analysis also shows that dog food and treats are far more expensive.
On average, dog owners spend about $259 on dog food and $76 on treats. On the other hand, cat owners spend $228 on cat food and $58 on treats.
(Pet Food Processing)
Obviously more and more pet owners are looking to focus more not just on keeping their pets fed, but healthy as well.
According to the latest pet food industry statistics, e-commerce sales also grew. Amazon is among the leaders, with a 45% sales increase compared to the previous year.
This incredible spike is another effect of the Covid-19 pandemic. Lockdowns and social distancing were a tremendous boost for pet food sales.
15. According to Packaged Facts on the pet industry, 69% of Millennials opt for their pets’ natural and organic products.
Naturally-made products are gaining popularity, especially CBD. Statistics reveal that one in four dog and cat owners have given their pet CBD oil-infused products.
Two out of three dog owners would do it again. Moreover, three in four cat owners would also do it again.
16. 73% of Gen Zers and 68% of Millennials are willing to spend more on sustainable pet products.
Younger generations aren’t only concerned about their pets’ well-being. They also want to contribute to saving the environment. They try to leave a small carbon footprint and reduce waste.
17. Is the pet industry growing?
Absolutely! The latest research and statistics reveal that the industry is indeed growing. The Covid-19 pandemic has significantly boosted e-commerce sales in the food and treats department.
Moreover, the insurance and vet care industries are also on the rise.
18. How big is the pet food industry?
It’s estimated that the pet food industry reached a revenue of $97.111 million in 2020. Analysts expect the market will grow by 4.5% yearly from 2020 to 2025.
19. What is the most profitable pet business?
The various highly profitable options range from providing daycare to making pet food. The most profitable ones include:
- Pooper scooping business — $40/hour
- Animal blog — the revenue depends on the topic you choose
- Dog clothing — Americans spend about $52 billion on pet accessories
- Pet grooming — $50–$300/hour
20. How profitable is the pet industry?
As per the APPA’s estimates, the expenditures on pet products totaled $95.7 billion in 2019.
Pet owners spent most on food and treats — $36.9 billion. Vet care and product sales were right behind with $29.3 billion, while supplies and OTC medicine raked in $19.2 billion.
21. How much is the pet industry worth in 2020?
Its worth is estimated at $99 billion. Out of which, $38.4 billion went on pet food and treats.
Pet owners also spent $30.2 billion on vet care and product sales, as well as $19.8 billion on supplies and OTC medications.
22. What do pet owners spend the most money on?
It’s clear that pet owners spend the most on pet food and treats. Vet care, OTC medicine, and pet supplies are also a large portion of the pet market.
Pet owners spend the least on pet insurance, grooming, boarding, training, pet sitting, and walking — some $10.7 billion in 2020 alone.
Hopefully, our list of pet industry statistics has made a valuable contribution to your understanding of the ever-changing pet industry market.
Pet owners only want the best for their companions. The continually growing pet industry does everything to produce new market trends and capitalize on pet owners’ dedication to their furry friends.
Ensure that you’re always familiar with the most recent shifts in the industry, and always carefully consider whether your pet really needs some of the trending supplies.