U.S. Pet Industry Fun Facts
POPULARITY
- 40% of H/H’s had a pet in 1960
- 68% of H/H’s had a pet in 2023
- Now a U.S. H/H is twice as likely to have a pet as to
have a child under 18.
SPENDING – TOTAL PET $
- In 1960 we spent $1.08B on Pets
- In 2022 we spent $117.60B
GROWTH RATE SINCE 1960
- +7.7% per year
- +4.0% per year – adjusted for inflation
- 71% faster than Total Income
- 86% faster than Total Spending
2023 Pet Products Spending was $68.52B – Where did it come from…?
/in Pet Market Segments/by John GibbonsDriven by a record lift in Food, Pet Products had the 2nd largest spending increase in history!