{"id":16219,"date":"2019-04-03T13:19:08","date_gmt":"2019-04-03T13:19:08","guid":{"rendered":"https:\/\/todaysveterinarypractice.com\/?p=16219"},"modified":"2022-02-21T14:49:25","modified_gmt":"2022-02-21T14:49:25","slug":"americans-are-spending-more-on-pets-than-ever-before-72-billion","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarypractice.com\/news\/americans-are-spending-more-on-pets-than-ever-before-72-billion\/","title":{"rendered":"Americans Are Spending More on Pets Than Ever Before: $72 Billion"},"content":{"rendered":"

Orlando, Florida\u00a0<\/em>\u2014\u00a0Bob Vetere, President and CEO of the American Pet Products Association (APPA)<\/a>, announced today new annual industry-wide spending figures, exceeding last year\u2019s spending by more than $3 billion. The announcement came during Global Pet Expo, the largest annual pet products trade show presented by APPA and the Pet Industry Distributors Association (PIDA)<\/a>. Pet care spending in 2018 reached a record-breaking high of $72.56 billion compared to $69.51 billion in 2017, an increase of over 4 percent. APPA\u2019s annual industry figures cover pet spending in the market categories of food, supplies\/over-the-counter (OTC) medications, veterinary care, live animal purchases and other services.<\/p>\n

\u201cMillennials continue to be the largest pet-owning demographic and this shows in the data,\u201d said Vetere. \u201cWe know this generation is willing to pay more for quality products and services to improve the health and well-being of their pets. Today more than ever, pet owners view their pets as irreplaceable members of their families and lives, and it\u2019s thanks to this that we continue to see such incredible growth within the pet care community.\u201d<\/p>\n

Pet Industry Spending Breakdown:<\/p>\n

\"pet

The American Pet Products Association (APPA) Releases Annual Industry-Wide Spending Figures<\/p><\/div>\n

 <\/p>\n

Spending on pet food continues to make up the majority of dollars spent in the industry, with premium dog food accounting for the most frequent type of food purchased, followed by generic and natural food. Rather than a higher volume of food being sold, the ongoing growth in this category likely stems from rising prices and sales of higher-priced foods made with quality ingredients. An interest in natural, locally-sourced treats and chews has never been higher across U.S. pet owners.<\/p>\n

\u201cIn the coming year, we anticipate steady growth in the pet food category thanks to opportunities that reside in specialized diets, targeting the aging pet population and pets with unique dietary needs,\u201d said Vetere. \u201cThe availability of fresh food options and subscription delivery programs is also expected to increase spending in this category.\u201d<\/p>\n

Coming in at $18.11 billion, veterinary care remains the second highest source of spending in the pet care community, surpassing growth in any other category at a rate of 6.1 percent. The frequency of vet visits has likely increased as well thanks to lower prices, making care more accessible to a broader audience. As a result, the trend of pet insurance is projected to increase with pets living longer and requiring more complex and extended medical care.<\/p>\n

\u201cScientific research from the Human Animal Bond Research Institute (HABRI)<\/a> shows that the bond formed between people and their pets yields valid health benefits to both pets and their owners,\u201d said Vetere. \u201cIt\u2019s a partnership; if you take care of your pets\u2019 health, they\u2019re going to take care of yours.\u201d<\/p>\n

Following veterinary care, spending on supplies and OTC medications holds the spot for the third highest source of pet spending. Up 6 percent from 2017, $16.01 billion was spent on items such as beds, collars, leashes, toys, travel items, clothing, food and water bowls, pet tech products, and other accessories. The use of pet meds and supplements to ensure longer, healthier lives for pets continues to increase. In addition, pet owners are more likely to use digital devices and technology compared to non-pet owners, which explains the rise in popularity of pet technology products.<\/p>\n

Pet services outside of healthcare including services such as grooming, boarding, walking, training, pet sitting and yard services saw a slight decrease, dropping 0.8 percent. Increased competition in this category has driven providers to lower prices and offer deals.<\/p>\n

The live animal purchases category experienced a 4.3 percent decline compared to the year before. Contributing $2.01 billion in 2018, this category makes up the smallest area of total pet industry spend. Acquisition of dogs varies by generation with more millennials turning to shelters and rescues, while baby boomers and Gen Xers look more to breeders. However, millennials purchase pets at an independent pet store three times more often than Boomers or Gen Xers.<\/p>\n

\u201cPeople across generations are keeping their pets longer, thus reducing the acquisition of new pets,\u201d said Vetere. \u201cHowever, with spending on our pets higher than ever before, it\u2019s clear that giving pets the best lives possible is still a top priority for pet owners, and they\u2019re willing to spend more on the quality products and services they consume if it means more quality time with their beloved companions.\u201d<\/p>\n

FOR MORE INFORMATION<\/p>\n

Read more about\u00a0Puppy and Kitten Nutrition<\/a><\/p>\n

Learn about\u00a0Nutrition for the Large-Breed Puppy<\/a><\/p>\n

Read about\u00a0dietary supplements<\/a><\/p>\n

###<\/p>\n

The American Pet Products Association (APPA) is the leading trade association serving the interests of the pet products industry since 1958. APPA membership includes more than 1,200 pet product manufacturers, their representatives, importers and livestock suppliers representing both large corporations and growing business enterprises. APPA’s mission is to promote, develop and advance pet ownership and the pet product industry and to provide the services necessary to help its members prosper. APPA is also proud to grow and support the industry through the following initiatives: Pets Add Life (PAL)<\/a>, the Human Animal Bond Research Institute (HABRI)<\/a>, Tony La Russa\u2019s Animal Rescue Foundation (ARF)<\/a> Pets for Vets program, Bark at the Park, The Pet Leadership Council (PLC)<\/a>, the Pet Industry Joint Advisory Council (PIJAC)<\/a>, Bird Enjoyment and Advantage Koalition (BEAK)<\/a>, and the Pet Care Trust. Visit www.americanpetproducts.org<\/a> for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pet care spending in 2018 reached a record-breaking high of $72.<\/p>\n","protected":false},"author":9,"featured_media":16221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":30,"footnotes":""},"categories":[342],"tags":[],"class_list":["post-16219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-exclusive","column-digital-exclusive","clinical_topics-news"],"acf":{"hide_sidebar":false,"hide_sidebar_ad":false,"hide_all_ads":false},"yoast_head":"\nAmericans Are Spending More on Pets Than Ever Before: $72 Billion<\/title>\n<meta name=\"description\" content=\"The American Pet Products Association (APPA) Releases Annual Industry-Wide Spending Figures. 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