2024 U.S. PET SUPPLIES SPENDING $23.91B…Up $0.89B

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Total Pet spending rose to $118.87B in 2024, up $1.27B (+1.1%) from 2023. After a record $8.65B (+57%) increase in 2021 the Supplies segment fell in 22. Recovery began in 23 and continued in 24, up $0.89B (+3.9%) to $23.91B. (Note: All numbers in this report come from or are calculated by using data from the US BLS Consumer Expenditure Surveys)

Supplies Spending fell -$4.6B 2018>20 due to Tarifflation and COVID. In 2021, Pet Parents caught up as spending rose a record $8.65B. In 2022, it plateaued in the 1st half then fell sharply in the 2nd half. 2023 had a 1st half lift & a 2nd half drop. 2024 had a small increase. We’ll drill down into the data to determine what/who drove the 23>24 3.9% lift in Spending.

In 2024, the average household spent $176.15 on Supplies, up 3.0% from $171.08 in 2023. (Note: A 2024 Pet CU (68%) Spent $259.04) The 3.0% CU lift doesn’t exactly match the 3.9% total $ increase. Here are the specific details:

  • 0.9% more CU’s
  • Spent 1.5% less $
  • 4.6% more often

Let’s start with a visual overview. The chart below shows recent Supplies spending history.

Since the great recession, spending in the Supplies segment has been driven by price. Although many supplies are needed by Pet Parents, when they are bought and how much you spend is often discretionary. When prices fall, consumers are more likely to buy more. When they go up, consumers spend less and/or buy less frequently.

2014 was the third consecutive year of deflation in Supplies as prices reached a level not seen since 2007. Consumers responded with a spending increase of over $2B. Prices stabilized and then moved up in 2015.

In 2015 we saw how the discretionary aspect of the Supplies segment can impact spending in another way. Consumers spent $5.4B for a food upgrade and cut back on Supplies – swapping $. Consumers spent 4.1% less, but they bought 10% less often. That drop in purchase frequency drove $1.6B (78%) of the $2.1B decrease in Supplies spending.

In 2016, supplies’ prices flattened out and consumers value shopped for their upgraded food. Supplies spending stabilized and began to increase in the second half. In 2017 supplies prices deflated, reaching a new post-recession low. The consumers responded with a $2.74B increase in Supplies spending that was widespread across demographic segments. An important factor in the lift was an increase in purchase frequency which was within 5% of the 2014 rate.

In 2018 prices started to move up in April and rapidly increased later in the year due to the impact of new tariffs. By December, Supplies prices were 3.3% higher than a year ago. This explains the initial growth and pull back in spending.

In 2019 we saw the full impact of the tariffs. Prices continued to increase. By yearend they were up 5.7% from the Spring of 2018 and spending plummeted -$2.98B. The major factor in the drop was a 13.1% decrease in purchasing frequency.

2020 brought the pandemic. Prices deflated but with retail restrictions and the consumers’ focus on needed items, both the amount spent and frequency of purchase of Supplies fell.

In 2021 the recovery began with a record lift. Pet parents bought all the supplies that they had been putting off for 2 years. 2021 spending ended up where it was headed in 2018 before being “derailed” by outside influences. In 2022 inflation took off and spending fell -$1.87B. In 2023 spending increased, primarily because of inflation which slowed in the 2nd half. In 2024 inflation slowed to 0.9% from 2.6% in 2023. Although YOY inflation slowed significantly, retail prices were at a record high. This was a factor in the small 3.9% lift.

That gives us an overview of the recent spending history. Now let’s look at some specifics regarding the “who” behind the 2024 lift. First, we’ll look at spending by income level, the most influential demographic in Pet Spending.

National: $176.15 per CU (+3.0%) – $23.91B – Up $0.89B (+3.9%).

$ for the $30>70K group were unchanged but only <$30K spent less. The 50/50 $ divide moved up to $120K from $117K.

  • <$30K (20.1% of CUs)- $70.75 per CU (+3.5%); $1.93B– Down $0.03B (-1.4%). This group is very price sensitive, but they still need Supplies. Their Total Supplies $ only fell because they have 4.8% fewer CUs.
  • $30K>70K (27.6% of CUs)- $119.61 /CU (+1.5%); $4.48B – No Chg $0.00 (0.0%). This lower income group matches the spending pattern of the $150K+ group. 2019 Tarifflation and 2022 inflation had big impacts. 23>24 $ were unchanged. $30>50K were down, but $50>70K was up. <2019 they were the leader in Supplies $. Now, they’re 3rd.
  • $70>$100K (14.4% of CUs) – $179.76 per CU (-0.2%); $52B – Up $0.10B (+3.0%). Lift due to 3.3% more CUs. Consistent spending until 2020 hit them hard. They rebounded strong in 2021 and spending grew slightly in 22>24.
  • $100K>$150K (16.3% of CUs) – $231.93 /CU (+8.0%); $5.13B – Up $0.32B (+6.6%). They had the 2nd biggest COVID drop and the 2nd biggest recovery. In 22, they had a 14.0% lift. In 23 their $ fell 3% but they came back +6.6% in 24.
  • $150K> (21.7% of CUs) – $301.53 per CU (-4.1%); $8.86B – Up $0.50B (+6.0%). This highest income group often has the biggest drops and lifts. In 23 they provided 93% of the Supplies lift. This came from 12.3% more CUs. In 24, the situation was similar. 10.5% more CUs spent 4.1% less but provided 56% of the Supplies increase.

With high prices, income matters. Only $70K> spent more but 92.1% of the overall lift came from $100K>.

Now, we’ll look at spending by Age Group.

National: $176.15 per CU (+3.0%) – $23.91B – Up $0.89B (+3.9%)

In 2024 the age group spending rollercoaster got simpler. Under 35: ↓; 35>44: ↑; 45>54: ↓; Over 55: ↑

  • 45>54 (16.3% of CUs) $238.59 per CU (+0.3%); $5.29B – Down $0.12B (-2.2%). From 2007>18 & in 23/24 this highest income group was the leader in Supplies $. They had a pandemic drop but strong growth in 21>23. The lift ended in 2024 as 2.4% less CU’s spent 11.5% less, 13.4% more often. However, they stayed #1 in $.
  • 35>44 (17.9% of CUs) $214.02/ CU (+13.1%) $5.20B – ↑$0.73B (+16.3%) They are #2 in income & expenditures. Inflation drove their $ down in 2019 but COVID had little impact. Spending took off in 21, fell in 22, then grew slightly in 23 & strongly in 24 as 2.8% more CUs spent 2.6% more $, 10.3% more often. They are still #2 in $.
  • 55>64 (17.6% of CUs) $197.62 /CU (+7.8%); $4.73B – Up $0.34B (+7.8%). Tarriflation caused a spending drop in 2019. Spending fell in 2020 as they binge bought pet food. They had a strong recovery in 21. Growth slowed in 22. $ fell in 23 but rose in 24 as 0.1% less CUs spent 13.4% more on Supplies, 4.9% less often. They stayed #3.
  • 65>74 (16.6% of CUs) $151.90 per CU (+4.5%); $3.43B – Up $0.29B (+9.4%). This older group is very price sensitive so rising prices caused them to cut back on spending in 2019. Like the 25>34 yr-olds, they also increased spending in 2020 and spending soared in 2021. However, unlike the 25>34 yr-olds and despite high prices, their spending grew in 22>23 and even more in 24 as 4.6% more CUs spent 2.3% more, 2.2% more often.
  • 25<34 (15.0% of CUs) $155.96 per CU (-5.7%); $3.17B – Down $0.32B (-9.1%). After trading Supplies $ for upgraded Food and Vet Care in 2016, these Millennials turned their attention back to Supplies. Tarriflation hit them hard in 2019 but they actually increased spending in the pandemic. The lift grew even stronger in 2021 but then spending fell slightly in 22>23 and even more in 24 as 3.5% less CUs spent 11.5% less $, 6.5% more often.
  • 75> (11.6% of CUs) $99.87 per CU (+42.1%); $1.58B – Up $0.48B (+44.0%). This low-income group is price sensitive but they are committed to their pets. Their spending was severely impacted by COVID but they strongly recovered in 21/22. Their $ fell in 23 but spiked in 24 as 1.3% more CU’s spent 25.0% more, 13.7% more often.
  • <25 (4.9% of CUs) $78.51/CU (-54.5%) $0.53B – Down $0.52B (-49.5%). It looks like they cut their Supplies spending in every possible way in 2024 as 10.9% more CUs spent 41.9% less $, 21.6% less often.

Supplies spending was again on an age roller-coaster but the most notable trend may be that <35 spent $0.84B less.

Next, let’s take a look at some other key demographic “movers” in 2024 Pet Supplies Spending. The segments that are outlined in black “flipped” from 1st to last or vice versa from 2023. The red outline stayed the same.

In 2024, even with only a small increase, 64.1% of segments still spent more. In 2023 it was 66%. There was again 1 Category  in which all spent more, Race/Ethnic. In 2023 it was Housing. In 2024 there were 11 “flips” but none that held their spot. In 2023 there were 9 “flips” and 5 “holdovers”. 2024 clearly had more turmoil and less stability than 2023.

5 winners are the “usual suspects”:  • Masters/Phd.    • $200K>    • 2 Earners    • Mgrs/Profess.    • Suburbs 2500>

4 are surprising:  • 4 People    • South    • Homeowner w/o Mtge    • Hispanics

Among the losers, most often show up here. There are only 2 big surprises:  • $150>199K    • Married, Couple Only

After the post pandemic binge buy in 21, Supplies spending fell $1.86B (-7.8%) in 22. This was not surprising after the record $8.65B lift. It is very similar to the binge/bust pattern in Food. Although spending fell by $1.9B, 52% of 92 demographic segments spent more on Supplies. In 23 spending grew $1.08B (+4.9%) as 65.6% of demographics spent more. In 24 spending was +$0.89B (+3.9%) and the demographic spending lift was 64.1%. There is a key factor to put Supplies spending in a better perspective. Many Supplies cartegories have been commoditized and are more susceptible to price changes. Prices fell 2016>18 and spending grew by $5B. Prices rose in 2018>19 and spending fell -$4.6B. In 22 inflation was 7.7%. That means that the amount of Supplies purchased in 22 was “really” -14.4%, almost double the actual $ drop. In 23 Supplies spending grew by $1.08B (+4.9%). Inflation was 2.6% so the “real” lift was +2.3%. (47% real) In 24 inflation slowed to 0.9% but spending was only up $0.89B (+3.9%). The “real” lift was 2.9% (75% real). Supplies are more discretionary, but many are needed for a better life. Supplies spending is moving to higher incomes but perhaps Pet Parents are becoming less sensitive to the high prices from cumulative inflation. We’ll see.