From explosive global growth—including a staggering $136.8 billion U.S. market and pet ownership climbing across generations—to intimate personal choices like prioritizing pet health over our own, the modern pet care industry is a complex ecosystem fueled by our profound, and increasingly expensive, love for our animal companions.
Key Takeaways
- US pet industry market size reached $136.8 billion in 2023
- Global pet care market valued at $232.76 billion in 2022
- Pet food segment accounted for 42% of US pet market in 2023
- 66% of US households own a pet in 2023
- 86.9 million US households have dogs in 2023
- 66.5 million US households own cats 2023
- Average annual pet spending $1,365 per household US 2023
- US pet owners spent $58.11 billion on pet food 2023
- $35.57 billion spent on supplies and OTC meds US 2023
- Pet food 42% of total industry spend US 2023
- Supplies/OTC meds 26% market share 2023
- Vet care/services 28% of expenditures 2023
- Global pet care market to reach $427 billion by 2030 at 6.1% CAGR
- US pet industry expected $147 billion in 2024
- Humanization trend drives 70% premium product sales
The global pet industry is massive, growing rapidly and fueled by humanization trends.
Consumer Spending
- Average annual pet spending $1,365 per household US 2023
- US pet owners spent $58.11 billion on pet food 2023
- $35.57 billion spent on supplies and OTC meds US 2023
- $38.38 billion on vet care US 2023
- 33% of pet owners bought pet insurance 2023
- Average dog owner spends $1,442 yearly 2023
- Cat owners average $1,049 annual spend US 2023
- 67% of owners increased pet spending post-COVID
- $7.3 billion spent on pet gifts/holidays US 2023
- 40% of owners splurge on premium pet food
- Online pet purchases 30% of total sales 2023
- 55% buy pet products via subscription 2023
- Gen Z pet spending up 20% yearly
- 28% of owners use BNPL for pet purchases
- Average vet bill $500+ for emergencies 2023
- 62% prioritize pet health spending over own
- Pet travel spending $2 billion US 2023
- 45% buy organic pet food
- Holiday pet spending $1,100 average 2023
- 71% willing to pay more for sustainable products
- Multi-pet households spend 50% more
- Pet daycare average $300/month US 2023
- Grooming costs $50-100 per session average
- Pet food purchases 60% impulse buys
Consumer Spending Interpretation
Our pets have successfully convinced us they're permanent toddlers in fur coats, as evidenced by our staggering billions in spending, impulse snack buys, and the fact that most of us would now rather see the vet than our own doctor.
Market Size
- US pet industry market size reached $136.8 billion in 2023
- Global pet care market valued at $232.76 billion in 2022
- Pet food segment accounted for 42% of US pet market in 2023
- US pet supplies market size was $32.5 billion in 2023
- Europe pet care market projected to grow at 5.2% CAGR from 2023-2030
- China pet market reached $38 billion in 2022
- Veterinary services segment valued at $38.4 billion in US 2023
- Pet grooming market size $2.8 billion globally in 2022
- US pet insurance market $1.5 billion in premiums 2023
- OTC pet medications market $1.2 billion in US 2023
- Latin America pet care market $8.5 billion in 2022
- India pet care market growing at 14% CAGR 2023-2028
- Pet tech market size $5.6 billion globally 2023
- Australia pet industry $3.8 billion AUD in 2023
- Canada pet market $5.2 billion CAD 2023
- Japan pet market ¥1.7 trillion in 2022
- Brazil pet care market $4.1 billion USD 2023
- South Korea pet industry 3.5 trillion KRW 2022
- Pet boarding market $2.1 billion US 2023
- Middle East pet care market $2.3 billion 2023
- Africa pet industry emerging at $1.2 billion 2023
- US pet food market $58.1 billion 2023
- Global pet treats market $30 billion 2023
- Premium pet food segment $25 billion US 2023
- Raw pet food market $1.5 billion US 2023
- Insect protein pet food market $500 million global 2023
Market Size Interpretation
The sheer scale of global pet spending reveals we aren't just buying kibble, but financing entire four-legged lifestyles, from gourmet insect-protein dinners to billion-dollar tech and insurance plans for creatures who, left to their own devices, would happily eat a sock.
Pet Ownership
- 66% of US households own a pet in 2023
- 86.9 million US households have dogs in 2023
- 66.5 million US households own cats 2023
- 24.9% of US homes have freshwater fish 2023
- 15.6 million US bird-owning households 2023
- 11 million US households with small animals 2023
- 8.4 million US reptile households 2023
- 70% of millennials own pets 2023
- 40% increase in US cat ownership since 1988
- 57% of Gen Z own or want pets 2023
- 62% of US families with kids under 6 own pets
- Dog ownership highest in rural US at 45%
- 38% of urban US households own pets 2023
- 49 million pet dogs in US 2023
- 42 million pet cats in US 2023
- 11.1 million pet birds US 2023
- 139 million freshwater fish in US 2023
- 6 million saltwater fish US households 2023
- 58% female pet owners in US 2023
- Average 1.7 pets per US pet-owning household 2023
- 25% of US seniors over 75 own pets
- 76% of pet owners consider pets family members
- US pet-owning households grew 10% since 2016
Pet Ownership Interpretation
We've so thoroughly welcomed pets into the family fold that our national census now reads like a slightly chaotic but deeply loved household roster, where the dogs outnumber the children, the fish could repopulate a small ocean, and even the reptiles have secured a quiet corner in eight million American hearts.
Products and Services
- Pet food 42% of total industry spend US 2023
- Supplies/OTC meds 26% market share 2023
- Vet care/services 28% of expenditures 2023
- 68% of dog food sales dry kibble 2023
- Wet pet food 22% market share US 2023
- Treats/snacks 12% of pet food sales 2023
- 55% growth in fresh pet food segment 2023
- Collars/leashes 15% of supplies sales
- Beds/toys 25% supplies market 2023
- Flea/tick products $3.5 billion sales 2023
- Dental chews popular in 40% households
- Boarding/kennel services $2 billion 2023
- Grooming services used by 20% owners monthly
- Pet sitting 15% service market share
- Training services $1.2 billion US 2023
- 30% services via apps/platforms 2023
- Cat litter $3 billion market US 2023
- Aquariums $1.1 billion sales 2023
- Bird cages/accessories $800 million
- Reptile habitats growing 10% yearly
- CBD pet products $1 billion sales 2023
- Apparel/accessories $2 billion US 2023
Products and Services Interpretation
Pet owners, ever eager to spoil their furry, scaled, and feathered companions, seem to operate on a budget where nearly half goes to filling the bowl, a quarter to trips to the vet, and the rest to a dizzying array of creature comforts, from dental chews to CBD treats and tiny, stylish sweaters.
Trends and Projections
- Global pet care market to reach $427 billion by 2030 at 6.1% CAGR
- US pet industry expected $147 billion in 2024
- Humanization trend drives 70% premium product sales
- Pet tech to grow at 20% CAGR to 2030
- Sustainable pet products 25% market by 2028
- Plant-based pet food 15% growth projected 2024-2030
- Tele-vet services to double by 2027
- Pet insurance penetration to 10% US by 2030
- E-commerce pet sales 40% by 2025
- Senior pet care segment $10 billion by 2030
- Exotic pets ownership up 20% by 2028
- AI in pet health diagnostics 30% CAGR
- Zero-waste pet products 12% market share 2030
- Subscription boxes to $5 billion by 2027
- Mental health pet products $2.5 billion 2030
- Wearables/GPS trackers 50 million units by 2028
- Raw/fresh food 25% pet food market 2030
- Asia-Pacific fastest growing at 8% CAGR to 2030
- 80% pet owners adopt personalized nutrition by 2030
- Robot pets market $3 billion by 2030
- Vet care costs rise 7% annually to 2030
- 50% households multi-species by 2028
- Insect protein 10% pet food by 2030
- Pet funeral services $2 billion 2030
- Global cat ownership to rise 15% by 2030
Trends and Projections Interpretation
The pet care industry is booming because we're not just buying flea collars anymore, we're curating a five-star lifestyle for our furry, scaly, and feathery family members, complete with personalized vegan meals, AI doctors, eco-friendly toys, emotional support chews, and even a dignified send-off—all while tracking it on a subscription-based app.
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