From skyrocketing billion-dollar sales to families embracing pets as cherished members, the global pet industry is experiencing explosive growth, transforming how we care for our animal companions.
Key Takeaways
- The U.S. pet industry market size reached $147 billion in total expenditures in 2023, marking a 7% increase from 2022
- Global pet care market was valued at USD 232.26 billion in 2023 and is projected to grow to USD 427.75 billion by 2032 at a CAGR of 7.0%
- Pet industry sales in the United States grew by 8% year-over-year to $136.8 billion in 2022, driven by supply growth and inflation
- U.S. pet ownership stands at 70% of households, equating to 90.5 million households owning pets in 2023
- 66% of U.S. households have a pet, with dogs in 65.1 million households and cats in 46.5 million in 2023-2024
- Millennial pet ownership rate is 33%, higher than Gen X at 32% and Boomers at 27% in the U.S.
- U.S. pet food market generated $61.7 billion in sales in 2023, with dry dog food leading at $14.2 billion
- Premium pet food segment grew 12% to $18.9 billion in U.S. retail sales in 2023
- U.S. cat food sales totaled $20.8 billion in 2023, with wet food at 45% share
- U.S. veterinary care expenditures reached $36.3 billion in 2023, up 8.1% from 2022
- Pet boarding and grooming services in U.S. totaled $10.2 billion in 2023 expenditures
- U.S. pet insurance premiums written amounted to $2.4 billion in 2023
- 55% of U.S. pet owners humanize their pets by buying premium health products in 2023
- Pet tech devices like GPS trackers saw 35% adoption growth among U.S. owners in 2023
- Plant-based pet food market expected to grow at CAGR 12.5% to $1.7 billion by 2028
The global pet industry is booming with strong sales growth across all categories.
Market Size & Revenue
- The U.S. pet industry market size reached $147 billion in total expenditures in 2023, marking a 7% increase from 2022
- Global pet care market was valued at USD 232.26 billion in 2023 and is projected to grow to USD 427.75 billion by 2032 at a CAGR of 7.0%
- Pet industry sales in the United States grew by 8% year-over-year to $136.8 billion in 2022, driven by supply growth and inflation
- The pet food segment alone accounted for 32% of the total U.S. pet industry expenditures, totaling approximately $47 billion in 2023
- North American pet care market size was estimated at USD 64.75 billion in 2023, expected to grow at a CAGR of 5.6% from 2024 to 2030
- European pet products market revenue is forecasted to reach US$32.50 billion by 2027, growing at a CAGR of 4.3% from 2023 to 2027
- In 2023, the global pet accessories market was valued at $12.5 billion, with a projected CAGR of 6.2% through 2030
- U.S. pet industry capital expenditures by pet specialty retailers reached $2.1 billion in 2022
- The Asia Pacific pet care market is expected to register the fastest CAGR of 8.2% during the forecast period 2024-2032
- Total U.S. pet industry revenue in 2024 is projected to hit $157 billion, up 6.3% from 2023
- Global smart pet collars market size was valued at USD 2.68 billion in 2022 and is expected to grow at a CAGR of 24.3% from 2023 to 2030
- Pet insurance market in the U.S. generated $2.2 billion in premiums in 2023
- Latin America pet care market size was USD 8.9 billion in 2023, projected to reach USD 15.2 billion by 2030 at CAGR 7.9%
- Online pet product sales in the U.S. accounted for 27% of total pet sales, reaching $18.5 billion in 2023
- Middle East & Africa pet grooming services market is anticipated to grow at a CAGR of 9.4% from 2024 to 2031
- U.S. pet supplies market revenue hit $32.4 billion in 2023
- Global pet wearable market size stood at USD 2.84 billion in 2023, expected to reach USD 11.29 billion by 2032 at CAGR 16.7%
- Canada pet industry expenditures totaled CAD 13.2 billion in 2023
- Pet daycare and boarding services in the U.S. generated $2.1 billion in revenue in 2023
- Global veterinary services market size was valued at USD 49.8 billion in 2023
Market Size & Revenue Interpretation
It appears that pets are not just our emotional support animals but have become the primary supporters of a robust, expanding global economy that demands premium food, luxury accessories, wearable tech, and even its own insurance sector.
Pet Ownership Statistics
- U.S. pet ownership stands at 70% of households, equating to 90.5 million households owning pets in 2023
- 66% of U.S. households have a pet, with dogs in 65.1 million households and cats in 46.5 million in 2023-2024
- Millennial pet ownership rate is 33%, higher than Gen X at 32% and Boomers at 27% in the U.S.
- 23% of U.S. pet-owning households own three or more pets as of 2023
- In the UK, 62% of households own a pet, totaling 17 million dogs and 12.5 million cats in 2023
- 68% of American families have a pet, with pet ownership rising to 86.9 million households in 2023
- Gen Z pet ownership in the U.S. reached 39% of their households in 2023
- 57% of U.S. pet owners acquired their pet during or after the COVID-19 pandemic
- In Australia, 69% of households own pets, with 48% owning dogs and 33% cats in 2023
- Multi-pet households make up 49% of U.S. pet-owning families in 2023
- Senior citizens (65+) have a 43% pet ownership rate in the U.S., higher than average
- 38% of U.S. renters own pets, with dogs being the most popular at 25%
- Black/African American households in the U.S. have a 45% pet ownership rate, up from previous years
- In Canada, 42% of households own dogs and 38% own cats as of 2023
- Hispanic/Latino U.S. households pet ownership grew to 53% in 2023
- 27% of U.S. households own fish, totaling 11.5 million households in 2023
- LGBTQ+ households in the U.S. have an 82% pet ownership rate, highest among demographics
- Rural U.S. households have 55% pet ownership compared to 45% urban
- In Germany, 46 million pets are owned by 34% of households in 2023
- U.S. dog ownership totals 65.1 million households, with average of 1.6 dogs per household
- Cat ownership in U.S. reached 46.5 million households, with 76.5 million cats total in 2023
Pet Ownership Statistics Interpretation
It appears we've evolved from seeking companionship to building full-blown menageries, as the data clearly shows pets have become a near-universal household staple across generations and demographics, with a particularly notable surge since the pandemic, proving that while human connection may be complicated, the love of a creature that just wants food and a warm lap is a remarkably consistent and growing global phenomenon.
Product Sales & Segments
- U.S. pet food market generated $61.7 billion in sales in 2023, with dry dog food leading at $14.2 billion
- Premium pet food segment grew 12% to $18.9 billion in U.S. retail sales in 2023
- U.S. cat food sales totaled $20.8 billion in 2023, with wet food at 45% share
- Pet treats and chews category reached $8.6 billion in U.S. sales for 2023
- Bird food sales in the U.S. amounted to $1.6 billion in 2023
- Global pet toys market size was USD 9.2 billion in 2023, projected to grow at CAGR 7.5% to 2030
- U.S. pet apparel sales hit $1.1 billion in 2023, up 8% YoY
- Reptile supplies in U.S. generated $800 million in 2023 sales
- Organic pet food sales in the U.S. reached $2.1 billion, growing 15% in 2023
- U.S. dog treats market size was $6.8 billion in 2023
- Aquatics supplies sales totaled $1.7 billion in U.S. pet channels in 2023
- Pet beds and accessories category saw $2.4 billion U.S. sales in 2023
- Freeze-dried pet food segment grew 25% to $1.5 billion in U.S. 2023
- Small animal supplies like bedding reached $1.2 billion in U.S. sales 2023
- Raw pet food sales in U.S. hit $1.8 billion, up 20% in 2023
- Litter and supplies for cats totaled $4.2 billion in U.S. 2023 sales
- Collar, leashes, and harnesses sales reached $2.0 billion globally in 2023
Product Sales & Segments Interpretation
Americans spent an astonishing $61.7 billion last year proving, through premium kibble, freeze-dried delicacies, and even tiny reptile furnishings, that our pet's lifestyle is increasingly seen as a non-negotiable extension of our own.
Services & Veterinary Care
- U.S. veterinary care expenditures reached $36.3 billion in 2023, up 8.1% from 2022
- Pet boarding and grooming services in U.S. totaled $10.2 billion in 2023 expenditures
- U.S. pet insurance premiums written amounted to $2.4 billion in 2023
- Veterinary diagnostic imaging market size was USD 1.8 billion globally in 2023, CAGR 6.5% to 2030
- 30.5% of U.S. dog owners used pet insurance in 2023, up from 25% in 2022
- Average annual vet bill for dogs in U.S. was $742, for cats $565 in 2023
- Pet sitting services revenue in U.S. reached $2.6 billion in 2023
- Telemedicine veterinary visits grew 40% to 1.2 million sessions in U.S. 2023
- 49% of U.S. pet owners spent over $500 on vet care per pet in 2023
- Global animal health market size was USD 55.1 billion in 2023
- Emergency vet services demand rose 15%, costing average $2,500 per visit in U.S. 2023
- Pet dental care expenditures hit $2.1 billion in U.S. 2023
- 67% of U.S. vets reported increased orthopedic surgeries in pets in 2023
- Mobile vet services bookings grew 28% to $800 million revenue in U.S. 2023
- Flea and tick prevention products cost U.S. owners $3.2 billion in 2023
- 42% of cat owners in U.S. spent on routine wellness visits averaging $250 each in 2023
- Global pet grooming market valued at USD 10.4 billion in 2023, CAGR 5.8%
- U.S. OTC pet medications sales reached $2.0 billion in 2023
- Average lifetime vet costs for a dog in U.S. estimated at $15,000 in 2023 dollars
Services & Veterinary Care Interpretation
The avalanche of data reveals a simple truth: we are no longer just pet owners, but caretakers of four-legged family members who now have access to a healthcare, wellness, and insurance complex suspiciously mirroring our own.
Trends & Future Projections
- 55% of U.S. pet owners humanize their pets by buying premium health products in 2023
- Pet tech devices like GPS trackers saw 35% adoption growth among U.S. owners in 2023
- Plant-based pet food market expected to grow at CAGR 12.5% to $1.7 billion by 2028
- 78% of Gen Z pet owners prefer sustainable/eco-friendly products in 2024 surveys
- CBD pet products sales projected to reach $1.05 billion in U.S. by 2025
- Subscription box services for pets grew 22% to $783 million revenue in U.S. 2023
- 62% of U.S. pet owners use apps for pet health tracking in 2024
- Direct-to-consumer pet food brands captured 15% market share by 2023
- Personalized nutrition for pets market to grow at 11.8% CAGR to 2030
- E-commerce pet sales expected to hit 40% of total by 2027 in U.S.
- 71% of pet owners view pets as family, driving premiumization trend up 10% in 2023
- Insect-based pet food market projected to reach $1.3 billion globally by 2027, CAGR 28%
- AI-powered pet cameras and feeders sales up 45% in 2023 U.S. market
- Zero-waste pet products demand rose 30% among millennials in 2023 surveys
- Senior pet care products market to grow at 8.2% CAGR to $15 billion by 2030
- 48% of U.S. owners plan to buy pet robot vacuums by 2025
- Functional pet treats with health benefits sales up 18% to $3.2 billion in 2023
- Vegan pet food options grew 50% in availability on U.S. shelves 2023
Trends & Future Projections Interpretation
American pet owners are now orchestrating a wildly sophisticated and guilt-free domestic utopia where the dog's gluten-free, cricket-based dinner is auto-shipped via subscription, his walk is analyzed by an app, his anxiety is soothed by CBD, his whereabouts are tracked by satellite, his mess is cleaned by a robot, and his every move is filmed for an audience of one—all so he can comfortably outlive us and inherit the smart home.
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