Created based on press release.
The American Pet Products Association (APPA) released “State of the Industry: Strategic Insights from the 2024 National Pet Owner Survey” during the Global Pet Expo in Orlando, Florida. APPA reports that total U.S. pet industry spending will reach $147 billion in 2023 and predicts that the pet industry will continue to see strong year-over-year growth through 2030.
“The data shows that despite widespread economic challenges, the pet industry has remained incredibly strong since 2009,” said APPA President and CEO Peter Scott. ” “While there are signs of slowdown, the industry is resilient, especially compared to other industries. In fact, we project industry spending to exceed $250 billion by 2030.”
Increase your influence by targeting Gen Z
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. 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,” said Ingrid Chu, vice president of Insights and Research.
Younger generations also prefer visual media to learn about products, making it important for brands to consider this in their top-of-funnel strategies.
“While brick-and-mortar stores remain a huge driver of awareness of new pet products, social media is just as important among younger generations,” Chew explained. “Gen Z is turning to visual platforms like TikTok, YouTube, and Instagram to learn about new pet products, and pet brands need to consider more visual media to reach younger audiences. I understand this.”
Other key findings from the APPA report
- Pet industry spending remains strong for the long term. In 2023, the pet industry's overall economic contribution will be $303 billion, up from $260 billion in 2022, an increase of 16%.
- 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.
- The post-COVID-19 buyer shift is toward an omnichannel approach, split between brick-and-mortar and online channels.
We investigated four categories
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. Below is the actual sales breakdown for the US market in 2023.
- $64.4 billion was 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 was spent on other services (lodging, grooming, insurance, training, pet sitting and walking, and all non-veterinary services).
APPA was founded in 1958 to promote, advance, and advance responsible pet ownership and the pet products industry. Since 1988, APPA has published the APPA National Pet Owner Survey, the premier resource of its kind for providing detailed data on consumer behavior. The 2024 National Pet Owner Survey (NPOS), currently conducted annually, will be 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.
