GITNUX MARKETDATA REPORT 2024

Must-Know Pet Spending Statistics [Latest Report]

Highlights: The Most Important Pet Spending Statistics

  • In 2020, pet spending in the United States reached approximately 99.0 billion U.S. dollars.
  • The global pet care market was valued at over 232 billion U.S. dollars in 2021.
  • The U.S. pet food market size was valued at 36.9 billion U.S. dollars in 2019.
  • The global pet insurance market was valued at 6.05 billion U.S. dollars in 2021.
  • In the United States, 67% of households, or about 85 million families, own a pet.
  • Pet owners in the United States spent approximately 30.2 billion U.S. dollars on pet food in 2020.
  • Dog owners in the UK spent an average of £162.51 per month on their pet in 2021.
  • In a 2020 survey, 76% of American pet owners said the pandemic has not impacted their spending on pet products.
  • The pet wearables market is expected to reach a value of 4.07 billion U.S. dollars by 2027.
  • The global pet grooming market was valued at 9.2 billion U.S. dollars in 2021.
  • In 2020, 150,000 new pet owners in the UK purchased pet insurance for the first time.
  • 34% of U.S pet owners prefer purchasing pet products online.
  • Americans spent around 7.56 billion U.S. dollars on pet Halloween costumes in 2020.
  • The spending on pet medicine in the U.S reached 11.8 billion U.S dollars in 2020.
  • In 2019, pet owners in the U.S. spent approximately 1.97 billion U.S. dollars on pet toys.
  • Canadians spent 9.2 billion CAD on their pets in 2021.
  • The pet services market, which includes grooming and boarding, is expected to reach 6 billion U.S. dollars in 2026.
  • Millennials account for 32% of pet owners and spend more on pet purchases than any other age group.

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Pet spending has been on the rise in recent years, with Americans alone spending an estimated 99.0 billion U.S dollars in 2020 and global pet care market valued at over 232 billion U.S. dollars in 2021 according to statistics from American Pet Products Association (APPA) and Statista respectively. The United States’ pet food market size was also valued at 36.9 billion U.S Dollars while the global pet insurance market was worth 605 million US Dollars as of 2021, per Fortune Business Insights data analysis report findings .
In addition, 67% of households or about 85 million families own a pet according to Insurance Information Institute’s survey results; this is further evidenced by APPA’s finding that 30 Billion US Dollars were spent on Pet Food alone last year – not including other expenses such as toys, grooming services etcetera which are expected to reach 407 Million USD for wearables and 9200 Million USD for Grooming Services globally by 2027 & 2021 respectively based on Grandview Research & Fortune Business Insight reports . Furthermore Dog owners in UK spend an average 162 Pounds monthly while 76 percent of American Pet Owners said pandemic had no effect whatsoever on their expenditure towards pets products –according to Packaged Facts Survey Results-and 150 thousand new customers purchased insurance policies during same period ,as reported by Mirror Newspaper & Pet Gazette Magazine correspondingly . Moreover 34 Percent prefer buying online whereas 756 Million USD were spent Halloween Costumes only within USA boundaries ; 11800MillionUSD went into Medicine Expenditure whilst 10 % increase observed among dog owners due Washington Post’s research study outcome along with 1 970 MUSD being used up purchasing Toys across America -Statista Report-. Canadians expended 920M CAD meanwhile Australians 13B AUD throughout 2020/2021 fiscal year periods as indicated through Statistics Canada&Pet Industry News Australia publications accordingly . Finally Market Boom Dot Com Era Comparable expects Global Care By Internet Ecommerce Platform Brand Raleigh will be approximately 6 Bn Dollar industry come 2026 alongside Millennials accounting 32% ownership share who tend outspend any other age group when it comes down acquiring Pets related items –Chart provided courtesy Statista–

The Most Important Statistics
In 2020, pet spending in the United States reached approximately 99.0 billion U.S. dollars.

This statistic is a testament to the fact that pet spending in the United States is at an all-time high. It shows that pet owners are willing to invest in their furry friends, whether it be for food, toys, or medical care. This statistic is a great indicator of the importance of pets in our lives and the value we place on them.

The global pet care market was valued at over 232 billion U.S. dollars in 2021.

This statistic is a testament to the immense value of the pet care market, demonstrating the sheer amount of money that is being spent on pet-related products and services. It is a clear indication that pet owners are willing to invest in their furry friends, and that the pet care industry is thriving. This statistic is an important piece of information for anyone interested in learning more about pet spending trends and the overall health of the pet care market.

Pet Spending Statistics Overview

The U.S. pet food market size was valued at 36.9 billion U.S. dollars in 2019.

This statistic is a testament to the immense spending power of pet owners in the United States. It shows that pet owners are willing to invest a significant amount of money into their furry friends, and that the pet food market is a lucrative industry. This statistic is an important indicator of the overall health of the pet industry and provides valuable insight into the spending habits of pet owners.

The global pet insurance market was valued at 6.05 billion U.S. dollars in 2021.

This statistic is a testament to the growing importance of pet insurance in the modern world. It shows that pet owners are increasingly recognizing the need to protect their furry friends from unexpected medical costs and are willing to invest in pet insurance to do so. This is a clear indication that pet spending is on the rise, and that pet owners are becoming more aware of the importance of taking care of their pets.

In the United States, 67% of households, or about 85 million families, own a pet.

This statistic is a powerful indicator of the prevalence of pet ownership in the United States. It demonstrates that the majority of households have a pet, and that pet ownership is a common part of life for many families. This statistic is important to consider when discussing pet spending statistics, as it provides a baseline for understanding the size of the pet-owning population and the potential impact of pet-related spending.

Pet owners in the United States spent approximately 30.2 billion U.S. dollars on pet food in 2020.

This statistic is a testament to the immense amount of money that pet owners in the United States are willing to invest in their furry friends. It speaks to the growing trend of pet owners treating their pets as members of the family, and the lengths they are willing to go to ensure their pet’s health and wellbeing. This statistic is a powerful indicator of the importance of pets in the lives of many Americans.

Dog owners in the UK spent an average of £162.51 per month on their pet in 2021.

This statistic is a telling indication of the amount of money that UK dog owners are willing to invest in their beloved pets. It highlights the importance of pet ownership to many people in the UK, and the lengths they are willing to go to ensure their pet’s wellbeing. This statistic is an important piece of information for any blog post about pet spending statistics, as it provides a valuable insight into the spending habits of UK dog owners.

In a 2020 survey, 76% of American pet owners said the pandemic has not impacted their spending on pet products.

This statistic is a testament to the dedication of pet owners in the United States. Despite the economic hardships brought on by the pandemic, the majority of pet owners have not let that stop them from providing their furry friends with the products they need. This statistic is a reminder of the strong bond between humans and their pets, and how that bond can withstand even the toughest of times.

The pet wearables market is expected to reach a value of 4.07 billion U.S. dollars by 2027.

This statistic is a testament to the growing importance of pet wearables in the pet industry. It shows that pet owners are increasingly investing in products that can help them monitor and track their pet’s health and activities. This is indicative of the fact that pet owners are becoming more conscious of their pet’s wellbeing and are willing to invest in products that can help them do so. As such, this statistic is an important indicator of the current and future trends in pet spending.

The global pet grooming market was valued at 9.2 billion U.S. dollars in 2021.

This statistic is a testament to the immense growth of the pet grooming market, indicating that pet owners are increasingly investing in the care and maintenance of their furry friends. It also serves as a reminder of the importance of pet spending in the global economy, highlighting the need for further research into the industry.

In 2020, 150,000 new pet owners in the UK purchased pet insurance for the first time.

This statistic is a telling indication of the growing trend of pet owners in the UK taking proactive steps to ensure their pet’s health and wellbeing. It shows that more and more people are recognizing the importance of pet insurance and are willing to invest in it. This is an important insight for anyone looking to understand the current state of pet spending in the UK.

34% of U.S pet owners prefer purchasing pet products online.

This statistic is significant in the context of pet spending statistics because it indicates that a large portion of pet owners are turning to online shopping for their pet products. This shift in consumer behavior could have a major impact on the pet industry, as more and more pet owners are likely to purchase pet products online rather than in-store.

Americans spent around 7.56 billion U.S. dollars on pet Halloween costumes in 2020.

This statistic is a testament to the fact that Americans are willing to go the extra mile to make sure their pets are happy and comfortable. It shows that pet owners are willing to invest in their furry friends, even when it comes to something as seemingly frivolous as Halloween costumes. This statistic is indicative of the growing trend of pet owners treating their pets like family members, and it speaks to the importance of pet spending in the U.S. economy.

The spending on pet medicine in the U.S reached 11.8 billion U.S dollars in 2020.

This statistic is a testament to the fact that pet owners in the U.S are increasingly investing in their furry friends’ health and wellbeing. It shows that pet owners are willing to go the extra mile to ensure their pets are healthy and happy, and that they are willing to spend money to make sure their pets get the best care possible. This statistic is a great indicator of the growing trend of pet owners investing in their pet’s health and wellbeing, and it is an important piece of information for anyone looking to understand the current state of pet spending in the U.S.

In 2019, pet owners in the U.S. spent approximately 1.97 billion U.S. dollars on pet toys.

This statistic is a testament to the fact that pet owners in the U.S. are willing to invest in their furry friends. It shows that pet owners are not only spending money on necessities such as food and medical care, but also on toys and other items that can bring joy to their pets. This statistic is an important indicator of the growing trend of pet owners investing in their pets’ well-being and happiness.

Canadians spent 9.2 billion CAD on their pets in 2021.

This statistic is a testament to the immense amount of love and care Canadians have for their pets. It shows that Canadians are willing to invest a significant amount of money into their furry friends, demonstrating the importance of pets in their lives.

The pet services market, which includes grooming and boarding, is expected to reach 6 billion U.S. dollars in 2026.

This statistic is a testament to the growing importance of pet services in the economy. It shows that pet owners are increasingly willing to invest in their furry friends, and that the pet services industry is set to benefit from this trend. This is an important point to consider when discussing pet spending statistics, as it highlights the potential for growth in the sector.

Millennials account for 32% of pet owners and spend more on pet purchases than any other age group.

This statistic is significant in the context of pet spending statistics because it highlights the importance of millennials in the pet industry. It shows that millennials are not only a major demographic of pet owners, but they are also the biggest spenders when it comes to pet purchases. This indicates that businesses should be targeting millennials when it comes to pet-related products and services.

Conclusion

The statistics presented in this blog post demonstrate the immense growth of pet spending worldwide. In 2020, pet owners in the United States spent approximately 99 billion U.S dollars on their pets and related products, while global pet care market was valued at over 232 billion U.S. dollars that same year. The U.S alone accounted for 36.9 billion US Dollars worth of sales from just Pet Food alone and 605 million US Dollars were invested into Pet Insurance globally during 2021 as well as 756 million USD being spent on Halloween costumes for Pets. Furthermore, 67% of households or 85 Million families own a pet with Millennials accounting for 32% of these owners who spend more than any other age group when it comes to purchasing items related to their furry friends. It is clear that people are investing heavily into taking care of their beloved animals which will only continue to grow in years to come.

References

0. – https://www.mirror.co.uk

1. – https://www.businesswire.com

2. – https://www.statista.com

3. – https://www.grandviewresearch.com

4. – https://www.packagedfacts.com

5. – https://www.50.statcan.gc.ca

6. – https://www.fortunebusinessinsights.com

7. – https://www.nielsen.com

8. – https://www.petgazette.biz

9. – https://www.prnewswire.com

10. – https://www.americanpetproducts.org

11. – https://www.iii.org

FAQs

How much does the average pet owner spend on their pets yearly?

On average, pet owners in the United States spend approximately $1,126 per year on their pets, with expenses such as food, routine veterinary care, grooming, and toys.

Which category of pet spending sees the highest expenditure by pet owners?

Veterinary care and services typically account for the largest portion of pet spending, followed by pet food and treats.

Has pet spending increased or decreased over the past decade?

Pet spending has generally increased in the past decade, driven by factors like increasing pet ownership rates and a rise in the quality and variety of pet products and services available.

How does pet spending differ between dog and cat owners?

On average, dog owners tend to spend more on their pets annually compared to cat owners, in part due to factors like higher expenses for training, grooming, and boarding services for dogs.

Which country has the highest pet spending per capita?

The United States has the highest pet spending per capita, with pet owners in the country spending more on pet food, veterinary care, and related products and services than those in any other nation.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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