of American Pet Products Association (APPA) releases annual pet industry spending in new 2024 Strategic Insights Report
APPA's pet industry spending includes four major categories of spending: Consumables, Live Animals, Over-the-Counter (OTC) Medications. Veterinary care and product sales. and other services. The breakdown of actual sales in the US market in 2023 is as follows.
$64.4 billion Spent on pet food and treats$32 billion Spent on supplies, live animals, and over-the-counter medicines$38.3 billion Spent on veterinary care and product sales$12.3 billion Spent on other services (lodging, grooming, insurance, training, pet sitting and walking, and all non-veterinary services).
APPA's new State of the Industry report also reveals new research on the pet industry. “The data shows that despite widespread economic challenges, the pet industry has remained incredibly strong since 2009,” said APPA President and CEO. “Despite the signs, this industry is resilient, especially compared to other industries.”
6 Key Findings from APPA's Industry State: Strategic Insights from the Industry National pet owner survey include:
- Pet industry spending remains strong for the long term. In 2023, the pet industry will increase its overall economic contribution.
$303 billion an increase of 16% from$260 billion In 2022. - Pet care is the leading fast-moving consumer goods (FMCG) category both now and before COVID-19, surpassing even groceries and dairy products.
- Even though the total number of households with pets has increased over time, the proportion of households with pets has normalized to pre-pandemic levels.
- Post-COVID-19, buyers have shifted to an omnichannel approach, split between brick-and-mortar and online channels.
- Millennials remain the largest generation of pet owners, but Gen Z is changing the way pet owners want to learn about and purchase pet products.
- Younger generations prefer visual media to learn about products, making it important for brands to consider this in their top-of-funnel strategies.
APPA researchers predict that pet industry brands that capitalize on new trends coinciding with the emergence of Gen Z pet owners through targeted marketing efforts will outperform the market. “While Millennials still own more pets than any other generation, the number of Gen Z pet owners is rapidly increasing.”
APPA was founded to promote, develop and promote responsible pet ownership and the pet products industry. Since 1988, APPA APPA National Pet Owner Surveyis the best resource of its kind, providing detailed data on consumer behavior.Currently, it is carried out every year, and in 2024, National pet owner survey (NPOS) is utilized to monitor consumer habits. Identify short-term and long-term trends. Discover new opportunities in pet ownership and consumption of pet products and services.
For more information on the market research available from APPA, please visit www.americanpetproducts.org/insights.
regarding American Pet Products Association
of American Pet Products Association (APPA) is a leading trade association serving the interests of the pet products industry since 1958. APPA's membership includes more than 1,000 pet product manufacturers, their representatives, importers and livestock suppliers, representing both large and growing companies. APPA's mission is to promote, advance and advance the pet ownership and pet products industry and provide the services necessary to help our members thrive. APPA is also proud to grow and support the industry through: APPA gives back Initiative: Human-Animal Bond Research Institute (HABRI), Joybound People & Pets Pet & Veterinary Program; pet care trust and classroom pets. For more information, visit AmericanPetProducts.org. Facebook, Instagram, LinkedIn, Twitter/X And YouTube.
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sauce American Pet Products Association (Apa)
