11 Feb Industry Trends
If you’ve been dying to read up on the absolutely riveting topic of market trends in the American pet industry, well, here you go. These figures are from the American Pet Products Association website, labeled as the Pet Industry Market Size and Ownership Statistics.
Final figures for 2018 aren’t quite in yet, but it’s estimated that pet industry expenditures are at $72.13 billion dollars, which would be up from 2017’s actual $69.61 billion. The biggest payout was on food at 29.87 billion. The entire break down was;
Food; $29.88 billion
Supplies/OTC Medicine; $15.51 billion
Vet Care; $18.26 billion
Live animal purchases; $2.01 billion
Other Services; $6.47 billion
These figures mostly stayed flat from 2017-2018. However, 2018’s 18.26 billion in vet care is an increase from 2017’s $17.07 billion dollars.
See? I told you it was riveting. Now check this out; looking at a yearly chart over the last decade shows clear growth in the pet industry. In 2008 the total $16.8 billion, and 10 years later it’s a whopping $72.13 billion. I’m sure inflation plays into that somehow, but still fascinating.
The report also stated that 68% of US households own a pet, and an estimated 86.7 million dogs are owned in 60.2 million households. This beats out cats (ha!) who were in lowly second place in a meager 47.1 million households…even though they win in sheer numbers with 94.2-ish million individual cats being in those 47 million households.
Humph. Probably those crazy cat ladies inflating the numbers.
If you’d like to see the statistics for yourself, check them out right here. Come on, you know you wanna. It tells you how many American families own reptiles. If that isn’t fascinating, I don’t know what is.