The Latest Pet Supplies Industry Statistics Explained
The global pet care market is expected to grow by 6% in 2021.
The statistic that the global pet care market is expected to grow by 6% in 2021 indicates an anticipated increase in the overall market value for products and services related to pet care on a worldwide scale. This growth rate of 6% suggests that the demand for pet care products such as food, healthcare, accessories, and grooming services is on the rise, reflecting a positive trend in the pet industry. Factors contributing to this growth may include the increasing humanization of pets, rising pet ownership, and the growing focus on pet health and well-being among consumers. This statistic signals potential opportunities for businesses operating in the pet care sector to capitalize on the market expansion and adapt their strategies to meet the evolving needs and preferences of pet owners globally.
The pet food segment holds the highest market share, contributing over 73% to the total pet care market.
The statistic indicates that the pet food segment has the largest share of the overall pet care market, accounting for more than 73% of the total market revenue. This implies that pet food products, such as dry food, wet food, and treats, are the leading category in terms of sales and consumer spending within the pet care industry. The high market share of the pet food segment suggests that pet owners prioritize providing nutrition and sustenance to their pets, leading to a significant portion of their pet care expenditure going towards purchasing pet food. This statistic underscores the importance of the pet food industry within the broader pet care market, highlighting the substantial economic significance and consumer demand for pet food products.
North America accounts for approximately 39% of the global pet care market.
The statistic indicating that North America accounts for around 39% of the global pet care market implies that nearly two-fifths of the total market value can be attributed to countries in North America. This suggests that the region has a substantial influence on the pet care industry worldwide, both in terms of consumption and production. Factors such as high pet ownership rates, a strong culture of pet care and spending, as well as a developed pet care industry likely contribute to North America’s significant share in the global market. This statistic underscores the importance of the North American market in the pet care sector and signifies a lucrative opportunity for businesses operating within this region or looking to expand their presence in the pet care industry.
In 2020, approximately $99 billion was spent on pets in the United States alone.
In 2020, the United States spent approximately $99 billion on pets, reflecting the significant and growing importance of pet care and ownership in American society. This statistic indicates a trend towards increased investment in pet-related products and services, such as food, veterinary care, grooming, and pet insurance. The substantial amount of money allocated to pets also suggests that they are valued as integral members of households, with owners willing to spend significant resources to ensure their well-being and quality of life. Additionally, the sheer magnitude of this expenditure underscores the economic impact of the pet industry, generating revenue for various businesses and supporting jobs in related sectors.
The online sales of pet products are projected to represent around 27% of all sales by 2023.
The statistic that the online sales of pet products are projected to represent around 27% of all sales by 2023 indicates a significant shift towards digital commerce within the pet product industry. As consumer behavior evolves towards convenience and accessibility, more pet owners are turning to online retailers to purchase supplies for their furry companions. This projection suggests that almost a third of all pet product sales will be made online in the coming years, highlighting the importance for traditional brick-and-mortar pet stores to adapt their business models to the changing landscape of retail. Additionally, this statistic emphasizes the growing influence of e-commerce in the pet industry and underscores the need for businesses to invest in their online presence and omnichannel strategies to remain competitive in the market.
The US pet supplies market is segmented into pet food (61%), veterinary care (21%), supplies/ OTC medicine (15%), and other services (2%).
This statistic indicates the breakdown of the US pet supplies market across different segments. The largest segment is pet food, accounting for 61% of the market, highlighting the significant demand for food products for pets. Veterinary care represents 21% of the market, underscoring the importance of healthcare services for pets. Supplies/OTC medicine make up 15% of the market, demonstrating the need for various accessories and medications for pets. The remaining 2% is attributed to other services, suggesting a smaller but still noteworthy portion of the market related to miscellaneous pet-related offerings. Overall, this segmentation provides a comprehensive overview of how spending is distributed within the pet supplies industry in the United States.
Organic pet food sales are expected to grow by 9.5% through 2025.
The statistic “Organic pet food sales are expected to grow by 9.5% through 2025” indicates that there is projected growth in the sales of organic pet food over the next few years. Specifically, this statistic suggests that the market for organic pet food products is anticipated to increase by 9.5% by the year 2025. This growth rate signifies a positive trend towards the rising popularity and demand for organic pet food among consumers. Factors contributing to this growth may include increased awareness of the benefits of organic ingredients for pets’ health, changing consumer preferences towards more natural and sustainable products, and a shifting focus towards overall pet wellness. This statistic provides insights into the expanding market opportunities and the potential for continued success in the organic pet food industry in the coming years.
Approximately 67% of U.S. households own a pet which equates to almost 85 million homes.
The statistic that approximately 67% of U.S. households own a pet, which equates to almost 85 million homes, reveals the widespread nature of pet ownership in the United States. This high percentage suggests that the majority of American households include at least one pet as a member of the family, indicating the significant role that pets play in people’s lives. With nearly 85 million homes having a pet, it illustrates the profound impact that animals have on society, from companionship and emotional support to providing joy and a sense of responsibility. This statistic underscores the importance of understanding and studying the dynamics of pet ownership in the U.S. and its implications for various sectors such as healthcare, economy, and social well-being.
Dog ownership accounts for 63.4 million households in the US, while cat ownership accounts for 42.7 million households.
The statistics provided indicate that there are 63.4 million households in the US that own at least one dog, while there are 42.7 million households that own at least one cat. This suggests that dog ownership is more prevalent than cat ownership in the United States, with approximately 20.7 million more households owning dogs compared to cats. These numbers highlight the popularity of pet ownership in American households and the significant role that dogs and cats play as companion animals. Further analysis could delve into the reasons for the higher number of dog-owning households compared to cat-owning households, such as preferences for certain traits or behaviors of each pet type, lifestyle factors, or cultural influences.
Brazil is the second-largest pet market globally with market value projected to reach over $9.8 billion by 2026.
This statistic indicates that Brazil is ranked as the second-largest pet market in the world, based on the total market value. The pet industry in Brazil is experiencing significant growth, with projections showing that the market value is expected to exceed $9.8 billion by the year 2026. This data reflects a strong demand for pet-related products and services in Brazil, showcasing the country’s large and growing pet ownership population. The increasing market value suggests opportunities for businesses in the pet industry to expand and innovate their offerings to cater to the needs and preferences of Brazilian pet owners.
The European pet care market is expected to exceed USD 46.6 billion by 2027.
This statistic indicates the projected growth of the European pet care market, estimating that its value will surpass USD 46.6 billion by the year 2027. The term “pet care market” encompasses various products and services including pet food, grooming, healthcare, and accessories for pets, indicating a significant and growing industry focused on meeting the needs and preferences of pet owners in Europe. The forecasted increase in market size suggests a rising demand for pet-related products and services, reflecting trends in pet ownership, increased awareness about animal welfare, and a burgeoning pet humanization phenomenon where pets are treated as family members. This statistic highlights the substantial economic impact and opportunities within the pet care industry in Europe, emphasizing the importance of catering to the needs of pet owners and their furry companions.
Premium pet food brands, aimed at healthier diets for pets, are gaining significant market share with expected CAGR of 5% through 2027.
This statistic suggests that premium pet food brands, which focus on offering healthier diets for pets, are experiencing substantial growth in the market. The expected Compound Annual Growth Rate (CAGR) of 5% through 2027 indicates a steady and consistent increase in market share for these brands. This trend reflects a growing consumer preference towards high-quality, nutritionally-rich pet food options, showcasing an increasing demand for products that prioritize the health and well-being of pets. The projection of this growth signifies a positive market outlook for premium pet food brands in the coming years as more pet owners prioritize providing optimal nutrition for their pets.
In India, the pet care market is expected to grow at a CAGR of about 20% until 2024.
This statistic indicates that the pet care market in India is projected to experience substantial growth over the coming years with a compound annual growth rate (CAGR) of around 20% until the year 2024. This suggests an increasing demand for pet care products and services in the Indian market, driven by factors such as rising pet ownership, changing consumer preferences towards pet health and well-being, and increased disposable income. The significant growth rate implies a lucrative opportunity for businesses operating in the pet care industry to capitalize on this upward trend by expanding their offerings and market presence to meet the evolving needs of pet owners in India.
Japan holds a significant share in the Asia Pacific pet care market with the market size exceeding $4.5 billion in 2020.
The statistic indicates that Japan has a notable presence in the pet care market within the Asia Pacific region, with its market size surpassing $4.5 billion in 2020. This suggests that Japan plays a significant role in driving the growth and development of the pet care industry in the region. The substantial market size indicates a high level of demand for pet care products and services in Japan, reflecting a strong pet-owning culture and potentially high levels of disposable income among pet owners in the country. Additionally, Japan’s dominance in the Asia Pacific pet care market implies that it is a key player in shaping industry trends, influencing market dynamics, and potentially serving as a benchmark for other countries in the region.
References
0. – https://www.www.americanpetproducts.org
1. – https://www.www.grandviewresearch.com
2. – https://www.www.gminsights.com
3. – https://www.www.euromonitor.com
4. – https://www.www.prnewswire.com
5. – https://www.www.iii.org
6. – https://www.www.alliedmarketresearch.com
7. – https://www.www.globenewswire.com
8. – https://www.www.business-standard.com
