Pet Industry Statistics In 2024

Originally published on February 7, 2023, this article has been updated on June 8, 2024 to reflect the latest research and statistics. Our editorial team has ensured you’re viewing the most current data on this topic. Need help or have a question? Email us.

What would we do without our best friends… Not the humankind, the furry kind. It will be crystal clear how much we love them when you read these pet industry statistics. 

We spare no expense on our animals! Well, some of us do, but if our pet wants it, we’ll darn sure try to get those Scooby snacks. Leashes and collars and bowls, oh my! We’d rather go hungry than have our kitty go without the latest catnip mistletoe. 

Pets are family members, and the numbers show it. We’ll be looking at everything from pet food to the grooming industry to uncover the facts. Do you know how much people are spending on pet-sitting services? Or that giving your pet CBD oil is a thing?

Keep reading to find fascinating facts about pet industry statistics. Just make sure to keep it on the sly so your furry, finned, feathered, or scaly friend doesn’t get a big head.  

Top Surprising Stats at a Glance

Pet Owners Numbers

People want to make sure their pets are comfortable, and spending money on them is one way to do it. 

And our popular pets don’t only consist of cats and dogs. Here is a breakdown of animals and the number of people who own them in the US. (2023-2024): 

(In millions)

• Bird 6.1
• Cat 46.5
• Dog 65.1
• Horse 2.2
• Freshwater fish 11.1
• Saltwater fish 2.2
• Reptile 6.0
• Small animal 6.7

TOTAL U.S. households that own a pet: 86.9 million

Now let’s get down to the nitty-gritty and explore the numbers of and more about the pet industry.

US Pet Industry Statistics

In 2023, a Total of $147 Billion Was the Actual Sale in the U.S. (American Pet Products Association, APPA)

And the number continues to increase rapidly. A majority of pet owners see pets as family members and are treated as such.

In 2023, a total of $147 billion in sales was reported in the U.S., which is projected to increase to $150.6 billion in 2024.

25.8% of Pet Expenses Are Dedicated to Veterinary Care and Products (APPA)

This growth can be attributed to the increasing demand for high-quality and specialized veterinary care services, including preventive care, diagnostics, and treatments for a wide range of pet health conditions.

In 2022, the US Pet Industry Reached $136.8 Billion. (APPA)

I remember researching this pet industry statistic in 2022, when it reached over $136.8 billion, and thinking, ‘This can’t be right. I need to dig deeper.’ I dug, and it is correct. 

80% (3.885 Million) of Dogs and 20% (0.964 Million) of Cats Are Insured in the US. (NAPHIA)

In 2022, 3.885 million dogs and 0.964 million cats were insured in the US. Cat owners don’t love their kitties any less than dog owners; they just think differently about a cat. ‘Cats can take care of themselves and are less likely to be hurt’ are some thoughts people have about their felines.

61% of US Pet Owners Are Inclined to Purchase Nutritious Food for Their Pets. (Mintel, Kerry Group)

Pet owners worry about what their pets eat. We want them to live long, healthy lives, so buying healthy food for them is usually a priority.

Chewy Leads U.S. Pet Supplies E-Commerce With the Highest Pet Market Sales. (ecommerceDB)

Chewy.com leads U.S. pet supplies e-commerce with the highest net sales at $10,099 million. Petsmart.com was second with $905 million, Walmart.com came in third with $524 million, and Petco.com ranked fourth with $480 million in revenue.

Pet Industry Statistics

The Global Pet Market Industry Valued at $235.32 Billion in 2022 and Crossed $246.66 Billion in 2023 (Fortune Business Insights)

According to Global Industry Analysts, in 2022, the global pet market was valued at $261 billion. Moreover, GIA asserted that “The global pet industry is considered one of the fastest-growing market segments.”

Even in times of poor economies, the pet industry trends don’t seem to notice. It is projected to grow from $246.66 billion in 2023 to $368.88 billion by 2030.

The Pet Insurance Industry Has Reached $4.08 Billion, According to the Global Pet Insurance Report of 2023. (Market Data Forecast)

The pet insurance industry is forecasted to grow to USD 8.46 billion by 2029 from USD 4.61 billion in 2024, according to the Global Pet Insurance Report.

And it is expected to reach $7.5 billion in 2028.

The Global Pet-Sitting Market Size in 2023 Is Expected To Be $2.67 Billion. (Global Newswire)

The global pet-sitting market size in 2023 was $2.67 billion. The pet sitting market is on track to hit $3.94 billion by 2027, growing at a 10.26% annual rate, and covers services like feeding, exercise, and medication for pets.

It was Expected That Market for Pets Other Than Cats and Dogs Would Reach $3.6 Billion in 2023. (Packaged Facts, Freedonia Group)

Previously, exotic pet products were estimated to be around $3 billion, which in 2023 crossed $3.6 billion. If you want a snake, chinchilla, or another wild animal, you’re going to need to spend a significant amount of money. Most require special habitats and lighting, heating/cooling instruments, supplements, dietary needs, and usually a specialty vet.

In 2020, Vet Care Product Sales Generated $30.2 Billion in Revenue. (Sec.gov)

The year 2020 may have had a slight decline in pet adoptions due to various reasons, but owners still bought necessities and other items for their little ones, as $30.2 billion was spent just on veterinary care.

During COVID-19, 21% of Pet Owners Spent More Money on Their Pets. (Petfood Industry)

Stats show pet owners have spent either 21% or more on their pets in 2020. Most of us were at home trying to stay safe. We had more time with our pets and could see what they needed. 

There Was a 20% Decrease in Pet Adoption From Shelters in 2020. (AVMA, DVM 360)

This may seem confusing, but it’s due to several factors, largely because of the pandemic: 

1. Animal control management was down.
2. Fewer pets were being relinquished to animal shelters.
3. More people wanted to adopt, so there were fewer pets available.
4. The total number of animals placed into foster care from shelters more than doubled from the previous year (from 22% to 46%). (source)

It’s Anticipated That by the Year 2027, the Global Pet Care Industry Will Cross $358.62 Billion. (Globe Newswire)

Worldwide, North America holds more than 40% of the market share. In 2019, the dog segment led the market with a 40.9% share, while the pet food category was the top performer, holding a 29.15% share.

The Pet Industry Has Experienced 450% Growth in the Last 25 Years. (SPINS)

American pet owners have gradually increased their pet spending each year, leading to a 450% growth over time. According to SPINS Pet Trends, they spend $49 billion annually on pet care, which covers food, treats, and supplies.

Pet Accessories Statistics

The Value of Pet Tech Market in 2022 Was $5 Billion and is Expected to Increase by 15% CAGR from 2023 to 2032. (Global Market Insights)

As we watch it grow exponentially, there appears to be no ceiling for the pet industry. The expected value in 2032 will cross $35 Billion.

More Than Half (51%) of Millennials Buy Gifts for Their Pets Once a Month or More (Forbes)

Millennial pet owners buy the most gifts for their pets and spend the most per gift. This generation loves their “children.” (source)

Americans Buy Halloween Costumes worth $490 Million for Their Pets Annually. (NRF)

Just take a peek at Facebook and Instagram, and this statistic will really make sense. The pet accessory market is booming. Annually, Americans spend around half a billion dollars on Halloween costumes for their pets. I think I’ll go dressed as a Cat Lady next year.

Statistics Show That by the Year 2025, the Pet Accessories Market Will Grow by $9.2 Billion. (Technavio, PR Newswire)

Pet owners are increasingly spending more on accessories such as toys, beds, collars, leashes, and clothing to provide their pets with comfort and style.

Tinkerbell must have her tutus and Brutus his studded collar. The market is expected to grow at a compound annual growth rate of over 6% from 2021 to 2025.

Wearable Pet Tech Is Expected To Generate $6.89 Billion in 2030. (Grand View Research)

Wearable pet tech is expected to generate $6.89 billion in 2030. In 2023, the worldwide market for pet wearables stood at $2.70 billion and is predicted to grow at a 14.3% annual rate until 2030, driven by pet owners’ increasing concern for their pets’ health.

Pet Food Industry

The Market for Organic Pet Food Is Valued at Approximately $2,318.5 Million. (IMARC)

The market for organic pet food is valued at approximately $2,318.5 million. IMARC Group forecasts that by 2032, this pet food market will grow to $5,458.3 million, with a CAGR of 9.68% from 2024 to 2032.

According to Pet Food Industry Analysis, Both Cat and Dog Owners Spend Around $300 Annually on Food and Treat Sales. (APPA)

This number fluctuates depending on the pet’s particular diet (organic, store-bought, raw, etc.), but this is the average. In a U.S. survey, dog owners reported an average annual spend of $442 on pet food in 2020, while cat owners spent about $329 per year.

43% of Dog Owners and 41% of Cat Owners Buy Premium Food for Their Pets. (PR Newswire)

Dog and cat owners are inclined to buy premium foods for their pets. Almost half of America wants to know if their pet is eating the best there is to buy.

Almost 40% of Pet Owners Buy Food and Treats for Their Pets Online. (Pet Food Processing)

In 2020, there was a boom in buying pet supplies online. Pet food manufacturers made products more accessible, and consumers responded. The statistic is forecasted to increase. (source)

Current pet owners deeply desire to ensure that their pets are fed healthy food, and this statistic proves that this is happening.

In 2022, 53% of Pet Owners Gave Their Pets CBD in the Form of Pet Edibles (Leafreport)

Although the safety of giving your pets CBD oil is still questionable, with some vets and scientists on different sides of the fence, consumers are certainly willing to take the risk anyway. (source)

About One-Third of Pet Owners Use CBD Products for Their Pets. (AKC)

About one-third of pet owners in the U.S. use CBD pet products for their pets, particularly treats, and shampoo, used to treat anxiety/stress, arthritis/sore joints, or pain.

There Are More than 630 Pet Food Brands (Pet Food Processing)

One trend is companies look to focus more on food products for different types of pets and the specific needs they have (overweight, age, illnesses, etc.).

In 2020, There Was an Increase in Pet Food Sales in the US by 18%. (Pet Food Industry)

There may not have been an increase in adoptions in 2020, but owners certainly continued to make sure the pets they had and those they added were fed.

The Trend to Buy Pet Supplements Has Increased to 116% from 2019-2020. (Kerry)

It’s obvious we want to do everything we can so that our pets can live as long as possible. 

In North America, the pet supplement industry, worth billions, has traditionally focused on joint, skin, and coat health and is steadily moving from in-store to online retailers.

The Trend to Buy Raw Dog Food Has Increased by 147% in the past 5 years. (Exploding Topics)

A true raw food diet does not completely consist of giving your pet some of your leftover meat. There are extremely important specifics in choosing this type of diet for your pet, and it should involve coming up with a game plan with your veterinarian. 

Pet Care Market

An Average of $50 to $600 Is Spent Yearly by Dog Owners for Dog Grooming. (USA Today)

A significant portion of people chooses to groom their pets themselves. They buy brushes, OTC ear medication, shampoo, and the like to do the job.

Americans Spend $1,149 on Their Dogs and $1,391 on Their Cats per Year. (ASPCA)

As responsible pet parents, we are obligated to care for our furry friends through both sickness and health. The ASPCA offers several tips to help you save money on your pet’s health care.

Each Dog Grooming Session Costs $60-$90. (Thumbtack)

The cost reflects the dedication and skill required to maintain the dog’s cleanliness, health, and overall appearance. My best friend’s dog was just groomed. The cost? Exactly $73.00.

Pet care market growth in North America in 2022 was 2.3%. (Statista)

In 2017, the Asia Pacific pet care market saw the highest growth rate at 7.5 percent. By 2022, this growth rate had increased to 9.3 percent.

Pet Care Sales Generated Through E-Commerce Are Predicted To Reach 30% Percent by 2025 (Statista, Edge by Ascential)

Pet care sales generated through e-commerce are predicted to reach 29% by 2025. The growth of e-commerce has presented a significant chance for emerging companies to market their innovative products cost-effectively.

It Is Expected That the Pet Grooming Industry Will Reach $14.5 Billion by the Year 2025. (Grand View Research)

More pet owners are becoming aware of the importance of maintaining their pets’ hygiene and grooming to ensure their health and well-being.

Pet grooming in America has previously only been a service provided for the wealthy but has become more commonplace.  

Pet Owner Statistics

More than 66% of US Owners Have at Least One Pet. (APPA)

As per stats of APPA, 66% of US owners have at least one pet. 12.2% of U.S. households own non-cat or non-dog pets. A pet’s love, loyalty, and devotion can’t be denied, and people recognize it.

During Covid-19, 8% of Adults Adopted Pets. (Pet Food Processing)

This statistic shows that several other age groups were responsible for pet adoption in 2020.

68% of White Adults Own a Pet (Pew Research)

68% of White and 66% of Hispanic adults have pets, while only 37% of Asian and 34% of Black adults are pet owners.

Every Year, Shelters Witness the Adoption of 4.1 Million Animals. (ASPCA)

Shelters witness the adoption of 4.1 million animals (2 million dogs and 2.1 million cats).

Millennial’s Pet Ownership Statistics

By Generation, Millennials have the Highest Percentage of Pet Ownership. (APPA)

Millennials have the highest pet ownership rate compared to other generations. This can be attributed to their delayed marriage and parenthood, higher disposable income, and tendency to view pets as family members.

The children of pet parents (Gen X and Baby Boomers) cranked it up and are at the top of many pet ownership statistics. 

Millennials Are Three Times More Likely To Own Pets Than To Have Children. (Ypulse)

Over two in five millennial pet owners aged 16-34 view their pets as their children, and an equal number report that spending more time at home has strengthened their bond with their pets.

According to YPulse, 51% of millennial pet owners bought their pets a toy in the past 6 months. This indicates that this generation values their pets as family members more than ever before.

Investment Banking Companies Predict That Millennials Will Increase Pet Ownership by 14% by 2030. (Morgan Stanley)

Sixty-five (65) percent of 18-34-year-olds plan to get another pet in the next five years. There’s nowhere to go but up for the pet industry.

69% of Millennials Are Interested in Buying Organic Foods for Their Pets. (SPINS)

Just as the millennial generation seems to be extremely concerned about issues like the environment, they also want their pets to be provided with untreated foods.

Interesting Facts About the Pet Industry 

Here are some more interesting facts about pet industry statistics in the US:

• 24% of Gen Xers — born between 1965 and 1981 — own pets.
• 5.7 million households own a reptile.
• In 2018, pet industry expenditures totaled 90.5 million annually, derived from a Morgan Stanley Research report.
• Consumer spending is expected to reach 275 billion by 2030.
• 53.5% of Riverside, CA residents have pets.
• 37% of pet owners would take on debt for a pet’s medical costs.
• One trend expected to continue moving upward is the humanization of pets. (source)

FAQs

What Is the Most Profitable Pet Business?

You could practically open a pet service entitled “Come see my dog!” and be profitable. But here are nine real-world ideas for you:

1. Mobile grooming
2. Pet sitting, boarding, and daycare
3. Dog and other animal training
4. Dog walker
5. Pet bakery
6. Sell boutique pet toys and supplies
7. Pet adoption service
8. Pet photographer
9. Online pet consulting

How Many People Work in the Pet Industry?

IBIS World reports 136,378 people are working in the Pet Stores industry in the US in 2023. This is one small group. There are many more hundreds of thousands of people who work in different vocations in the pet industry. 

What Is the Most Popular Pet in the World?

The most popular pet in the world is the domestic dog. Dogs are kept as pets in homes around the globe due to their loyalty, companionship, and ability to be trained.

Cats follow closely behind in popularity, valued for their affectionate nature and ease of care. These preferences can vary by region, but globally, dogs and cats dominate as the preferred choices for pets.

How Many People Own a Dog?

In the United States, 86.9 million homes own a pet, and nearly 65.1 million households own a pet dog, highlighting the popularity and widespread ownership of dogs across the country.

How Many Dogs Are in the US?

There are 76,811,305 dogs in the United States, indicating a significant canine population across the country.

Which Product Do Pet Owners Spend Most of Their Money On?

It’s pet food, by far, and here is the entire list:

• Pet Food and Treats $64.4 billion
• Supplies, Live Animals & OTC Medicine $32 billion
• Vet Care & Product Sales $38.3 billion
• Other Services $12.3 billion

In conclusion

We’d be sick as a dog with hairballs if we didn’t have our pets. Every US generation has them, adores them, and will continue to spend as much as it takes to keep them happy.

You’re not alone as you buy that next dog toy or that new cat food that’s everything. You’re in fine company. And only pet lovers will understand… they’re so worth it. Pets give us laughter, loyalty, and love and will never be undervalued. The pet industry experts agree. 

And if you can figure out what catnip mistletoe is, let me know!