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Pet Industry Market TrendsPet Food Industry TrendsPet Health, Grooming, and WellnessPet Accessory MarketFAQ
Note: This article’s statistics come from third-party sources and do not represent the opinions of this website.
Pets are part of the family. They are wellness companions, protectors, or best friends, and sometimes all three. People are spending more money on their pets, and this is reflected in the growing pet industry. While this is likely a good thing for our pets, those spending patterns are also good news for people who own businesses catering to the pet industry because the market size is expected to increase substantially over the coming years.
The increasing pet spending trends are not limited to food and treats; the growing number of pet industry trends has branched out to pet health and wellness, grooming, and accessories. Let’s take a detailed look at some of the major pet industry statistics.
The 20 Pet Industry Statistics
The global pet market is worth $246 billion.
People in the USA spent $89 billion on their pets in 2023.
In 2023, there was an 16% increase in pet food sales in the USA.
Millennials lead the pack in terms of pet ownership by generation, with 33% of people born between 1981-1996 being pet parents.
The pet-sitting market size was $1.94 billion in 2021 and is expected to grow.
2.2 million dogs and 2.6 million cats were adopted from shelters in 2023.
While pet ownership accelerated during the COVID-19 pandemic, investment banking companies predict millennials and Generation Z will sustain growth up to 14% by 2030.
The global natural pet food market is expected to grow by 4.6% from 2023 to 2033.
About 42% of dog and cat owners choose to spend more for premium pet food.
Over the last 5 years, raw dog food has seen a 147% increase in purchasing patterns.
Roughly 40% of pet owners buy their pet food and treats online.
People spend between $70-$80 on one dog grooming session.
In 2022, it was reported that 48% of people who give their pets CBD oil offer it as edible treats.
Pet supplement sales reached $2.49 billion in 2023.
By 2025, the pet grooming product industry is projected to grow to $14.5 billion.
Out of the 3.1 million insured pets in the US, 83% of them are dogs and 17% of them are cats.
During 2022-2025, the pet accessories market is expected to grow by $9.2 billion.
More than 50% of pet owners are willing to pay more for eco-friendly pet care products.
The pet tech market is set to grow at a 22% compound annual growth rate from 2022-2027.
Americans spent $490 million on Halloween costumes for their pets.
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Pet Industry Trends in the Overall Market
The pet industry covers a wide variety of services and products. The branches within the pet industry that are seeing upward trends are pet food and treats, wellness