The pet industry statistics clearly demonstrate that tastes in pets and pet care vary among humans. But whether you have a cat, dog, horse, bird, or snake, all of these pets need healthy food, hygiene maintenance, a place to sleep, etc.
People who have pets understand that their companions need to be looked after properly—and with over 300 million pets in the US, this sets the stage for a prosperous business. We’ve come up with some of the freshest statistics and facts that might surprise you.
The Key Pet Industry Statistics in Review:
- The pet industry in the US should reach $72 billion by the end of 2019.
- in 2018, the overall pet product sales reached €39.5 billion in Europe (around $44 billion USD).
- There’s a platform that enables pet owners to connect to a trusted network of local veterinarians at any time.
- There are various new fields in the pet market: grooming, training, pet sitting, pet boarding, the production of organic pet treats, etc.
- The grooming market reached $3.87 billion in 2017.
- The freshest pet food industry trends will show a clear rise in the number of pet food products containing nutrients such as omega-3 fatty acids and vitamins.
- The pet humanization trend is making changes to this industry—more and more hotels and restaurants are welcoming cats and dogs.
- 60% of millennials say they buy jackets, sweaters, and other clothes for their beloved pets.
- Dry dog food is the most dominant type of pet food in the world.
- The US pet food market is predicted to grow from $10.4 billion in 2018 to $13.3 billion in 2023.
The Latest Pet Industry Trends
1. Proactive, healthy ingredients in pet food have become a massive trend in the pet industry.
So what is this about? Many pet owners want their pets to eat as healthily as they do. And the businesses providing these products seem to have realized that, making pet food ingredients that efficiently bring proven health benefits their focus. During the following years, there should be a continuing rise in the number of products containing nutrients such as omega-3 fatty acids and vitamins.
2. New technological advances are being implemented in the pet services industry, too.
Along with recent technological advancements, access to veterinary services has gotten so much better. For instance, Roy Stein and Bill Rebozo developed BabelBark, a platform whose goal is to allow pet owners to interact with a trusted network of local veterinarians at any time and at a low price.
3. The pet humanization trend is having a remarkable impact on recent pet service industry growth in the US.
This means that companies have begun offering new products that will enable their pets to enjoy life’s comforts in exactly the same way humans do. For instance, taking into account that pets are nowadays perceived as members of the family, there’s a high demand for pet supplies that let owners take them on vacation or even just short trips. Therefore, an increasing number of hotels and restaurants are allowing pets through their doors.
4. The pet insurance industry is becoming a major player.
According to Lori Weyuker, the lead actuary of Nationwide Pet Insurance, health insurance for pets is considered the best way for people to afford some of their pets’ more costly, and sometimes unexpected, medical needs. According to the 2017 reports, there were more than 2 million pet owners in North America who got insurance for their pets.
5. There’s a growing number of profitable businesses in the pet products industry.
(Top Dog Tips)
Are you exceptionally fond of pets—and like anyone else, you want to earn money doing something you love? Well, you might want to consider some of the numerous pet business ventures that are becoming more and more profitable these days. Whether it’s grooming, training, pet-sitting, making organic pet treats, selling pet accessories online, or something else—the pet industry growth keeps making room for the newest clever idea.
6. A company like Airbnb for pets?
Nine years ago, Los Angeles resident Aaron Hirschhorn went on vacation and left his dog at a kennel for the trip—but upon his return, his dog behaved as though it were traumatized. This was what inspired him to engage in a new business venture and start his own pet-boarding business. The venture was more than successful: during the very first year, he made approximately $35,000 in sales and has since successfully expanded online.
Pet Care Industry Statistics
7. 40% of pet industry customers are between the ages of 30 and 49.
Millennials and Gen Xers are clearly adopting more pets than older generations. As we know, millennials with pets also tend to use technology to purchase products and services. This has helped form a powerful market with an abundance of new ventures in pet-related business. With this in mind, the pet market should continue to expand in size.
8. More than 50% of all Americans own at least one dog or cat.
Annually, Americans collectively spend over $50 billion on their pets. In fact, 27% of American pet owners say they’ve hired a professional to photograph their pets. The American pet industry market size isn’t so surprising when you take these kinds of factors into account.
9. In 2017, Americans seem to have spent more on their pets than expected.
Namely, in 2017, it was estimated that the total sales revenue would reach around $69.35 billion, but these expectations were exceeded by several millions of dollars. In their reports on pet industry statistics from 2017, the American Pet Products Association (APPA) indicated that US citizens spent $69.51 billion on their pets. This is also a 4% increase when compared to 2016.
10. Of the thousands of consumers surveyed, 30% of them reported that they make an effort to keep up with the latest pet trends.
(Trim Dog Grooming)
Mintel’s research on the pet industry trends from 2019 shows that pet owners try to keep up-to-date with the latest in pet clothing and grooming. Pet owners even report that they tend to try out different types of shampoos and conditioners to find what suits their pet’s hair type best. Still, while folks clearly spend a lot of money on their pets, Mintel’s research also shows that 45% of pet owners still don’t have pet insurance.
11. In the case of the global pet grooming industry, statistics indicate that this market reached $3.87 billion in 2017.
(Allied Market Research)
Moreover, the experts predict that the pet grooming market will climb to $5.49 billion over the following six years. Apart from shampoos and conditioners, grooming industry products include toothpaste, massage oils, scissors and clippers for claw trimming, detangling brushes, and so on.
12. According to pet industry trends of 2016, more than ½ of the US pets are obese due to overeating and inactivity.
A study by Packaged Facts has found that around 46 percent of cat owners and 45 percent of dog owners have an aged pet. Another study by the Association for Pet Obesity Prevention has indicated that more than half of the US pets are obese due to overeating and inactivity. If your pets are either old or obese, there are many ideas to consider if you’re willing to start something beneficial for both your pet and yourself, such as a blog with reviews of the best products for senior cats or documenting your pet’s weight loss progress on social media.
13. According to the European Pet Food Industry Federation, in 2018, the overall pet product sales reached €39.5 billion in Europe (around $44 billion USD).
(Pet Food Processing)
This data from 2018 demonstrates the strength of the pet industry in Europe—apparently, there’s been an overall sales growth of over €3 billion, reaching €39.5 billion. The sales increased by 8.2% from 2017’s €36.5 billion. Of the €39.5 billion, €21 billion alone is from pet food, according to the same pet food industry analysis.
16. Dry dog food is the best-selling type of pet food in the world.
(Pet Food Industry)
According to the latest pet food industry statistics, the overall sales of dry dog food reached nearly $35 billion in 2018, according to Euromonitor. High sales growth has also been detected when it comes to dog treats (6%), dry cat food (5.5%) and finally, cat treats (9%).
15. 60% of millennials say they buy jackets, sweaters, costumes, and other fashion products for their beloved pets.
If we reach two decades back into the past, we can’t even imagine the sight of a dog in a jacket without its owner being laughed at. Nowadays, however, the pet fashion industry is flourishing, and no one perceives stylish pets as an oddity. While the category still remains slightly unconventional in comparison to food or playthings, the pet clothing industry statistics report that it’s developing at a fast pace.
16. What is the most profitable pet business?
Since people nowadays treat their pets with undivided attention, there’s an increasing demand for pet products and services around the world. With this in mind, there’s a number of options if you’re a pet lover who would like to start investing in the pet industry. The various highly profitable options range from providing daycare, making pet food, removing pet waste, grooming pets, making an animal blog, etc.
17. How much money is in the pet industry?
Try walking down the pet aisle in any large supermarket, and you’ll become aware of America’s pet obsession. As per the American Pet Products Association’s estimates, the expenditures on pet products totaled $60.59 billion in 2015, but the newer reports say it has already reached up to $70 billion in 2019.
18. How much do we spend on pets each year?
(Monet Under 30)
According to data on the first year of pet ownership, the cost of owning a dog is around $1,270, while the first year of owning a cat costs a little less, at $1,070. Although it’s heavily dependant on what type of food you buy and any unpredicted medical expenses, having a pet can pose an additional $500 in expenses each year onwards, according to the pet industry statistics.
However, there are other expenses that this data doesn’t count on. For instance, you might travel, which will incur some extra costs, either for pet sitting or kennel service. If you decide to bring your pet with you, you’ll probably pay a pet deposit or cleaning fee (assuming the place you’re staying is pet-friendly in the first place).
19. What is the pet industry?
The pet industry consists of the products (as well as services) that keep pets alive and comfortable. These include food, toys, training products, beds, cages, health care, etc.
20. Are cats or dogs more expensive?
(Money Talks News)
Several years ago, the American Society for the Prevention of Cruelty to Animals conducted a study concerning the average costs of owning a dog versus owning a cat. As it turns out, having a cat is cheaper than having a dog. However, some of the tiny dog breeds can be cheaper than cats.
21. How much is the pet industry worth?
(The Conversation, Grand View Research)
The pet industry in the US should reach $72 billion by the end of 2019. What’s more, as per the 2018 report by Grand View Research, the global pet industry is expected to reach up to $202.6 billion by 2025.
22. How big is the pet food industry in the US?
(Pet Food Processing)
The US pet food market is predicted to grow from $10.4 billion in 2018 to $13.3 billion in 2023, at a compound annual growth rate of 5%.
Pet owners only want the best for their companions, and the constantly growing pet industry does everything to produce new market trends and capitalize on pet owners’ dedication to their furry friends. Make sure 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. Hopefully, our list of pet industry statistics has made a useful contribution to your understanding of the ever-changing pet industry market.