U.S. pet industry revenue reached $147 billion in 2023, according to the American Pet Products Association’s annual report.
The breakdown of the $147 billion in sales included:
- $64.4 billion on food and treats.
- $32 billion on supplies, live animals and over-the-counter medications.
- $38.3 billion on veterinary care and veterinary product sales.
- $12.3 billion on other services, including boarding, grooming, health insurance, training and pet sitting.
“The data has shown that the pet industry has remained incredibly strong since 2009, despite wide-scale economic changes,” said APPA President and CEO Peter Scott. “While there are signs of slowing, the industry is resilient, especially compared to other industries, and we forecast the industry’s expenditures to top $250 billion by 2030.”
The APPA also surveyed owners regarding their spending on basic services. A national survey found that dog and cat owners reported the following average expenses in the prior 12 months:
- Surgical veterinary visits: $458 for dogs and $201 for cats
- Routine veterinary visits: $242 for dogs and $178 for cats
- Food: $287 for dogs and $254 for cats
The APPA also reported ownership percentages by these generations:
- Generation Z: 16%
- Millennial: 33%
- Generation X: 25%
- Baby boomer: 24%
- Silent Generation: 2%
“Millennial pet owners still account for more pet owners than any other generation, but the number of Gen Z pet owners is quickly rising,” said Ingrid Chu, the APPA’s vice president of insights and research.