Forget Wall Street; Australia's true bull market in 2023 was a furry one, with the pet industry fetching a staggering $3.77 billion in sales as nearly 7 in 10 households proved that their love for their animals is an investment that only grows.
Key Takeaways
- In 2023, the Australian pet industry generated $3.77 billion in retail sales, marking a 7.5% increase from 2022
- The pet food segment accounted for 47% of total pet industry expenditure in Australia during 2023, totaling $1.77 billion
- Australia's pet industry is projected to grow at a CAGR of 4.2% from 2023 to 2028, reaching $4.8 billion by 2028
- In 2023, 62% of Australian households owned at least one pet, totaling 29 million pets nationwide
- Dogs are the most popular pet in Australia with 5.8 million owned in 2023, present in 48% of pet-owning households
- Cats numbered 5.2 million in Australian homes in 2023, owned by 33% of pet households
- Average annual spending per pet-owning household in Australia was $2,450 in 2023
- Australians spent $1,100 per dog annually on average in 2023, including $550 on food
- Cat owners averaged $850 yearly spend in 2023, with $420 on veterinary care
- Pet food market share for dry kibble was 65% of $1.77 billion in 2023
- Wet pet food sales reached $450 million in 2023, 25% of total pet food
- Dog treats and chews generated $280 million in 2023, growing 8%
- 75% of Australian pet owners plan to increase spending in 2024 per 2023 survey
- Humanization of pets drove 22% growth in premium products 2018-2023
- E-commerce penetration in pet sales expected to reach 25% by 2025
Australia's pet industry is thriving with rising spending and pet ownership.
Consumer Spending
- Average annual spending per pet-owning household in Australia was $2,450 in 2023
- Australians spent $1,100 per dog annually on average in 2023, including $550 on food
- Cat owners averaged $850 yearly spend in 2023, with $420 on veterinary care
- Pet food expenditure per household reached $820 in 2023, up 6% from 2022
- Veterinary bills averaged $450 per pet in 2023, totaling $1.8 billion nationally
- 42% of pet owners spent over $1,000 annually on accessories and toys in 2023 survey
- Pet insurance premiums averaged $650 per policy in 2023, covering 1.2 million pets
- Grooming services cost averaged $250 per dog yearly in 2023
- Online pet purchases averaged $450 per household in 2023, 25% of total spend
- Premium food spending was $380 per year per cat owner in 2023
- Boarding and daycare averaged $1,200 annually for frequent users in 2023
- 35% of owners spent $200+ monthly on pet food in 2023
- Training services expenditure totaled $150 million nationally in 2023, avg $120 per dog
- Pet health supplements spending hit $180 per household in 2023, up 14%
- Apparel spending per pet was $45 annually in 2023
- Emergency vet visits cost avg $1,200 per incident in 2023
- Pet food accounted for 52% of total household pet spend in urban areas 2023
- Pet owners spend $82 per month on food avg 2023
- Vet costs avg $52 monthly per pet 2023
- Accessories spend $28 monthly avg 2023
- 28% spent $500+ on vet in 2023
- Grooming avg $180 yearly dog 2023
Consumer Spending Interpretation
It seems Australian pets have successfully upgraded from mere companions to full-blown lifestyle accessories, complete with a household budget line item that would make a junior accountant blush.
Industry Trends and Forecasts
- 75% of Australian pet owners plan to increase spending in 2024 per 2023 survey
- Humanization of pets drove 22% growth in premium products 2018-2023
- E-commerce penetration in pet sales expected to reach 25% by 2025
- Pet insurance adoption forecasted to double to 2.5 million policies by 2027
- Sustainable pet products market to grow 15% CAGR to 2028
- Tele-vet services usage up 40% post-COVID, projected 20% annual growth
- Raw and fresh pet food segment to reach 12% market share by 2026
- Senior pet care products expected to grow 10% yearly to $200m by 2025
- CBD pet products legalized, market projected $50m by 2025
- Pet daycare facilities to increase 25% by 2026 in major cities
- 60% of owners adopting tech like GPS trackers by 2025 forecast
- Vegan pet food market to hit $30m in Australia by 2027
- Obesity in pets at 59%, driving weight management products growth 12%
- Microchipping rate to reach 95% by 2025 per government targets
- Subscription box services for pets projected $100m revenue by 2026
- Mental health products for anxious pets to grow 18% CAGR
- 45% rise in pet adoptions post-2020, stabilizing at 150k yearly
- Local sourcing for pet food to increase to 40% by 2028 sustainability push
- AI diagnostics in vet clinics forecasted for 30% adoption by 2027
- The Australian pet industry is expected to employ 75,000 by 2025
Industry Trends and Forecasts Interpretation
Australians are treating their pets with such human-like indulgence—from telehealth and therapy to gourmet meals and retirement plans—that the only thing left to outsource is their own tax returns.
Market Size and Growth
- In 2023, the Australian pet industry generated $3.77 billion in retail sales, marking a 7.5% increase from 2022
- The pet food segment accounted for 47% of total pet industry expenditure in Australia during 2023, totaling $1.77 billion
- Australia's pet industry is projected to grow at a CAGR of 4.2% from 2023 to 2028, reaching $4.8 billion by 2028
- Pet services such as grooming and boarding contributed $450 million to the Australian pet economy in 2023, up 12% YoY
- Online pet product sales in Australia surged 18% in 2023 to $680 million, representing 18% of total sales
- The veterinary services market in Australia was valued at $2.1 billion in 2023, growing 5.8% annually
- Premium pet food sales grew 9.2% in 2023, comprising 35% of the $1.77 billion pet food market
- Australia's pet accessories market reached $650 million in 2023, with a 6.1% growth rate
- The pet insurance market in Australia expanded to $350 million in premiums in 2023, up 22% from prior year
- Total pet-related imports to Australia hit $1.2 billion in 2023, primarily pet food and toys
- Pet retail stores in Australia numbered 2,450 in 2023, generating average revenue of $1.5 million per store
- The Australian pet industry employed over 65,000 people directly in 2023
- Export value of Australian pet products was $180 million in 2023, led by pet treats
- Pet pharmacy sales in Australia reached $420 million in 2023, growing 8.4%
- The market for pet apparel and accessories grew to $120 million in 2023 at 7.8% CAGR over 5 years
Market Size and Growth Interpretation
Australia’s pets have mastered the art of economic purrsuasion, with their human servants spending billions on gourmet meals, luxury grooming, and comprehensive healthcare, proving that a wagging tail is the ultimate driver of a booming market.
Pet Ownership Statistics
- In 2023, 62% of Australian households owned at least one pet, totaling 29 million pets nationwide
- Dogs are the most popular pet in Australia with 5.8 million owned in 2023, present in 48% of pet-owning households
- Cats numbered 5.2 million in Australian homes in 2023, owned by 33% of pet households
- There were 2.9 million pet birds in Australia in 2023, accounting for 12% of all pets
- Fish ownership stood at 12.5 million in 2023, the highest volume pet type at 43% of total pets
- Small mammals like rabbits and guinea pigs totaled 1.1 million in 2023, 4% of pets
- Reptile ownership reached 450,000 in Australia in 2023, up 15% since 2019
- 27% of Australian households owned dogs in 2023, with urban areas at 30% vs rural 45%
- Multi-pet households made up 35% of pet owners in 2023, averaging 1.8 pets per household
- Pet ownership rate among millennials (25-40) was 72% in 2023, highest demographic
- 18% of Australian renters owned pets in 2023, compared to 75% of homeowners
- Indigenous Australian households had a 55% pet ownership rate in 2023, often multiple dogs
- Pet ownership in NSW was 65% of households in 2023, highest state rate
- Victoria saw 28 million total pets in 2023, with dogs leading at 6.2 million statewide estimate
- Queensland households owned 4.1 million dogs and cats combined in 2023
- In 2023, pet ownership in Australia reached 69% of households, up from 62% in 2019
- There are approximately 5.1 million dogs in Australian households as of 2023
- Cats number 4.9 million in Australia in 2023
- Pet fish total 10.5 million in 2023
- Average pets per owning household is 1.9 in 2023
- 71% of millennials own pets in 2023
- Pet ownership among baby boomers is 55% in 2023
- Single-person households have 40% pet ownership rate in 2023
- In SA, 60% households own pets, 2023 data
- WA pet ownership at 64%
Pet Ownership Statistics Interpretation
Australia is a nation so devoted to pets that we’ve deputized over 29 million furry, feathered, and finned companions to rule our homes, proving that while we may debate politics, we are unanimously united under a paw, a claw, and the occasional respectful nod to a very chill lizard.
Product and Service Categories
- Pet food market share for dry kibble was 65% of $1.77 billion in 2023
- Wet pet food sales reached $450 million in 2023, 25% of total pet food
- Dog treats and chews generated $280 million in 2023, growing 8%
- Cat litter sales totaled $160 million in 2023, with clumping litter at 70% share
- Pet toys market was $220 million in 2023, interactive toys up 12%
- Beds and bedding products sold $150 million worth in 2023
- Flea and tick prevention products earned $320 million in 2023
- Aquarium supplies market reached $180 million in 2023 for fish owners
- Bird cage and accessory sales were $90 million in 2023
- Reptile habitat products grew to $65 million in 2023
- Grooming tools and shampoos totaled $110 million in 2023
- Pet carriers and travel gear sales hit $85 million in 2023
- Nutritional supplements for pets reached $140 million in 2023
- Veterinary pharmaceuticals dispensed $380 million in 2023
- Pet waste management products sold $55 million in 2023
- Collar and leash sales were $95 million in 2023, smart collars 15% share
- Bird food market $45m 2023
- Small mammal supplies $35m 2023
- Pet cameras sales $25m 2023
- Dental care products $75m 2023
Product and Service Categories Interpretation
Dry kibble might be the monarch commanding 65% of Australia’s $1.77 billion pet food throne, but our pampered pets are fueling a lucrative and diverse court of subjects, from the vigilant $320 million spent on flea prevention to the $25 million on pet cameras for remote surveillance, proving we’re not just feeding them but funding their entire, well-monitored, and accessorized lifestyles.
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