The pet industry sales in the US reached an all-time high in 2020, with $103.6 billion in sales, APPA reports. Although many industries had problems during the pandemic, the pet industry has never been this big and strong.
Statistics show that during the pandemic, 21% of pet owners spent more money on their pets. This is understandable considering that they spent more time with their pets.
Pet food and treats make the most significant part of the sales, with $42 billion. The sales of food and treats blew up during the first lockdown in April and May. It was closely followed by vet services and sales of the products, with $31.4 billion in sales.
$22.1 billion was spent buying live animals, medication (over the counter), and supplies. The lowest share was in the “other services” group. Pet grooming, walking, and similar services had a share of $8.1 billion.
$103.6 billion in sales may seem like a lot, but reports show that 38% of pet owners overcame the COVID-19 anxiety because of their pets.
It is estimated that the sales in 2021 will increase further, with 5.8% growth. The whole industry’s sales are expected to rise to $109.6 billion.
The highest growth is estimated for the other services, such as grooming, dog walking, and similar — 20%. As mentioned, this pet industry branch suffered the most during 2020, but it’s expected to return to normal soon.
Pet food and treats should grow up to 5%, while the supplies and medicine category should grow about 6%. The lowest growth is expected for the vet services and products sales with 3%.
The growth of the pet industry sales is primarily due to online shopping. 47% of pet owners spent more time shopping online during the pandemic. And many others discovered the benefits of shopping from their own homes.
The pet industry is steadily growing, and it’s safe to say that it’s not going to slow down any time soon.