Nearly three-quarters of American homes now echo with the sound of a purr or a wagging tail, propelling a market that is as much about emotional fulfillment as it is about a staggering $147 billion in annual spending.
Key Takeaways
- In 2023, 86.9 million U.S. households owned a pet, representing 70% of all households
- Dog ownership reached 65.1 million U.S. households in 2023, up 2% from 2022
- Cat-owning households numbered 46.5 million in the U.S. in 2023, a 1% increase year-over-year
- The U.S. companion animal industry generated $147 billion in total spending in 2023
- Global pet care market size was valued at $232.76 billion in 2023
- U.S. pet industry sales grew 7% to $147 billion from 2022 to 2023
- Average annual pet spending per U.S. household reached $1,360 in 2023
- Dog owners spent $1,442 on average per year in U.S. 2023
- Cat owners averaged $1,069 annual spend in U.S. 2023 data
- U.S. average routine vet visit cost $59 for dogs, $51 cats in 2023
- Emergency vet care averaged $1,500 for dogs, $1,200 cats U.S. 2023
- 1 in 3 U.S. pets visited vet 3+ times yearly in 2023 survey
- Dry dog food sales dominated 52% U.S. pet food market ($30B) in 2023
- Wet cat food grew 4% to $8.5B U.S. sales 2023
- Raw/fresh pet food segment hit $1.8B U.S. 2023, CAGR 18%
The companion animal industry is thriving as most American households now consider pets family members.
Industry Trends
- 68% U.S. households viewed pets as family by 2023, driving humanization
- Pet humanization trend boosted premiumization, 45% sales premium 2023
- Sustainability focus: 52% owners prefer eco-friendly products 2023 U.S.
- Pet tech adoption: 25% owners used wearables 2023 U.S. survey
- Personalization trend: custom pet food 12% CAGR to 2028 from 2023
- Wellness/functional nutrition 35% pet food market 2023 global
- E-commerce penetration 30% U.S. pet sales 2023, Amazon 40% share
- DTC brands grew 22% revenue 2023 U.S. pet industry
- Subscription models 18% recurring pet revenue 2023 U.S.
- Telehealth vet visits up 150% since 2020, 20% total consults 2023
- Pet parenting millennials 40% market influence 2023 demographics
- Gen Z driving exotics/micro pets growth 15% 2023 U.S.
- Plant-based pet food trials 22% dog owners 2023 survey
- AI in pet care apps downloaded 50M times 2023 global
- Zero-waste packaging 28% premium brands 2023 adoption
- Senior pet care products $2.5B segment 2023 U.S. growth
- Mental health pet products (calming) $1.2B 2023 sales spike
- Omnichannel retail 65% pet purchases 2023 U.S. hybrid
- Influencer marketing 25% pet brand budgets 2023
Industry Trends Interpretation
American pets have achieved supreme furry and scaled overlord status, with their bespoke, tech-monitored, sustainably-served, and therapist-approved lifestyles now bankrolled by an army of concerned millennials and documented by influencers, proving that the ultimate consumer isn't a person but a pampered creature whose emotional support we ironically now require.
Market Size
- The U.S. companion animal industry generated $147 billion in total spending in 2023
- Global pet care market size was valued at $232.76 billion in 2023
- U.S. pet industry sales grew 7% to $147 billion from 2022 to 2023
- Pet food segment alone reached $58.2 billion in U.S. sales in 2023
- Supplies/treats/live animals segment hit $33.4 billion in U.S. 2023
- Vet care and product sales totaled $38.3 billion in U.S. 2023 market
- Other services like grooming/boarding reached $16.9 billion U.S. in 2023
- Global pet industry projected to grow at 5.2% CAGR to $427 billion by 2030
- U.S. pet food market expected to reach $61.8 billion by 2025
- Europe pet care market was $28.5 billion in 2023
- China pet market surpassed $10 billion USD in 2023, growing 15% YoY
- India pet care market valued at $1.2 billion in 2023, CAGR 14%
- Brazil pet industry reached $5.5 billion in 2023, largest in Latin America
- Online pet sales grew to 25% of total U.S. pet market in 2023 ($36.75B)
- Premium pet food segment expanded to $18 billion in U.S. 2023 sales
- U.S. pet industry CAGR averaged 6.1% from 2018-2023
- DTC pet brands captured 12% U.S. market share by 2023 revenue
- Pet insurance market in U.S. grew to $1.5 billion premiums in 2023
- OTC pet meds segment hit $1.2 billion U.S. sales in 2023
- Global pet tech market valued at $5.6 billion in 2023
- U.S. pet boarding/kennel revenue $7.2 billion in 2023
- Pet grooming services generated $3.1 billion U.S. in 2023
Market Size Interpretation
While we may question our own healthcare spending, we've unequivocally decided that our pets deserve a premium, tech-forward, and insured lifestyle, creating a quarter-trillion-dollar global industry that shows no sign of scratching its growth itch.
Pet Ownership
- In 2023, 86.9 million U.S. households owned a pet, representing 70% of all households
- Dog ownership reached 65.1 million U.S. households in 2023, up 2% from 2022
- Cat-owning households numbered 46.5 million in the U.S. in 2023, a 1% increase year-over-year
- 28.1 million U.S. households owned freshwater fish in 2023, making them the third most popular pet
- Bird ownership stood at 6 million U.S. households in 2023, stable from previous years
- Reptile-owning households totaled 6.2 million in the U.S. in 2023, showing steady growth
- 3.4 million U.S. households owned small animals like hamsters and guinea pigs in 2023
- Horse ownership was reported in 1.6 million U.S. households in 2023, primarily rural
- Millennial pet ownership rate hit 33% of their households in 2023, highest among generations
- Gen Z pet ownership grew to 35% of their households by 2023, driven by emotional support needs
- Baby Boomers owned pets in 55% of households in 2023, focusing on dogs and cats
- 38% of U.S. pet owners are single-person households in 2023, up from 30% in 2019
- Multi-pet households accounted for 52% of all pet-owning U.S. households in 2023
- Urban pet ownership rate was 62% of U.S. urban households in 2023
- Suburban households had a 72% pet ownership rate in the U.S. in 2023
- Rural U.S. households owned pets at an 82% rate in 2023, highest geographically
- 57% of U.S. pet owners acquired their first pet during the COVID-19 pandemic by 2023
- Female-headed U.S. households owned pets at 68% rate vs. 62% for male-headed in 2023
- Hispanic U.S. households had 55% pet ownership in 2023, growing fastest demographic
- African American households reached 49% pet ownership rate in U.S. 2023 data
- Asian American pet ownership was 52% of households in 2023 U.S. survey
- 23% of U.S. renters owned pets in 2023, up due to pet-friendly policies
- Homeowners had 75% pet ownership rate in U.S. 2023
- 41 million U.S. dogs were owned in 2023, averaging 1.7 dogs per dog-owning household
- Cats totaled 42.4 million in U.S. homes in 2023
- Pet ownership in Europe reached 91 million dogs and cats combined in 2023
- UK households owned pets at 62% rate in 2023, with 12.5 million dogs
- Global pet population exceeded 1 billion in 2023, led by dogs at 900 million
- China had 120 million pet dogs in urban areas by 2023
- Brazil's pet ownership hit 149 million animals in 62% of households in 2023
Pet Ownership Interpretation
America's enduring love affair with pets, now a non-negotiable majority lifestyle, proves that while we may squabble over nearly everything, we are overwhelmingly united in our need to share a couch with something that doesn't care about politics.
Product Sales
- Dry dog food sales dominated 52% U.S. pet food market ($30B) in 2023
- Wet cat food grew 4% to $8.5B U.S. sales 2023
- Raw/fresh pet food segment hit $1.8B U.S. 2023, CAGR 18%
- Pet treats reached $7.2B U.S. market 2023, functional health focus
- Flea/tick preventives sold $2.1B OTC U.S. 2023
- Pet apparel sales $1.1B U.S. 2023, holiday peak
- Toys market $4.2B U.S. 2023, interactive up 12%
- Beds/structures $2.8B U.S. pet sales 2023
- Litter sales $3.4B U.S. 2023, clumping dominant
- Aquatics supplies $2.1B U.S. 2023 market
- Bird supplies $1.2B U.S. sales 2023
- Reptile products grew to $800M U.S. 2023
- E-commerce pet food sales 28% total ($16B) U.S. 2023
- Private label pet food 25% market share U.S. 2023 ($14.5B)
- Organic/natural pet food $12B U.S. 2023, 21% growth
- Freeze-dried treats $450M U.S. segment 2023
- CBD pet products $600M U.S. sales 2023 despite regs
- Sustainable pet toys 15% market ($630M) U.S. 2023
- Subscription boxes generated $1B U.S. pet sales 2023
- Collar/leash sales $900M U.S. 2023, smart tech up
Product Sales Interpretation
The data reveals that American pets are living a more curated lifestyle than ever, with their humans meticulously balancing practical kibble budgets against indulgent gourmet feasts, spa-like wellness products, and an entire wardrobe of whimsical outfits, all while ensuring their comfort is sustainably sourced and digitally optimized.
Spending Habits
- Average annual pet spending per U.S. household reached $1,360 in 2023
- Dog owners spent $1,442 on average per year in U.S. 2023
- Cat owners averaged $1,069 annual spend in U.S. 2023 data
- Multi-pet households spent 2.5x more than single-pet in 2023 U.S.
- 40% of U.S. pet owners spent over $500/month on pets in 2023 survey
- Pet food took 30% of total U.S. pet spending ($44B) in 2023
- Vet care consumed 26% of spending at $38B U.S. total 2023
- Supplies and OTC meds 23% of spend, $34B U.S. 2023
- 67% of U.S. dog owners bought premium food in 2023, avg $800/year
- 55% cat owners splurged on premium kibble, avg $600/year 2023
- Holiday pet gifting spend hit $12.5B in U.S. 2023 season
- 31% U.S. owners used BNPL for pet purchases in 2023, avg $200/transaction
- Gen Z pet owners spent 20% more per capita than Boomers in 2023
- 49% millennials used pet subscriptions, avg $50/month extra spend 2023
- Average vet bill for dogs was $519 in U.S. 2023
- Cat routine checkup averaged $110, emergency $1,000+ in 2023 U.S.
- 25% U.S. owners spent $2,000+ on pets yearly in 2023
- Pet treats spending per household $213 avg U.S. 2023
- Toys/accessories avg $122 per U.S. pet household 2023
- 73% Gen Z willing to spend more on sustainable pet products 2023
Spending Habits Interpretation
Americans are proving that for their pets, love is not just a sentiment but a quantifiable line item, with households essentially funding a full-time, four-legged staff member complete with a healthcare plan, gourmet meals, and a generous gift allowance.
Veterinary Care
- U.S. average routine vet visit cost $59 for dogs, $51 cats in 2023
- Emergency vet care averaged $1,500 for dogs, $1,200 cats U.S. 2023
- 1 in 3 U.S. pets visited vet 3+ times yearly in 2023 survey
- Dental cleanings cost avg $600-1,200 per dog U.S. 2023
- Spay/neuter surgery avg $350 dogs, $250 cats U.S. 2023 rates
- Chronic condition treatment like diabetes cost $2,000-4,000/year dog 2023
- Cancer treatment for pets averaged $4,000-10,000 U.S. 2023 cases
- 45% U.S. dog owners reported flea/tick issues needing vet care 2023
- Vaccinations cost $20-50 per shot, annual boosters common U.S. 2023
- Orthopedic surgery like TPLO for dogs avg $3,500-7,000 U.S. 2023
- 28% cats had urinary issues requiring vet intervention 2023 U.S.
- Preventive care packages cost $200-400/year per pet U.S. 2023
- Telemedicine vet consults averaged $50/session, up 300% since 2020 to 2023
- 62% U.S. owners skipped vet visits due to cost in 2023 survey
- Avg pet insurance premium $48/month dogs, $29 cats U.S. 2023
- 4.25 million U.S. pets insured by end 2023, 2% penetration
- Wellness plans covered 15% vet costs avg for insured pets 2023
- Euthanasia costs $100-300 U.S. avg 2023, often out-of-pocket
- 1.2 million surgical procedures on companion animals yearly U.S. 2023
- Lab tests avg $100-200 per diagnostic panel U.S. vet 2023
Veterinary Care Interpretation
The cascade from a routine check-up to complex treatment reveals a stark financial staircase in pet ownership, where the annual cost of love can unpredictably ascend from the price of a nice dinner to that of a used car.
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