The pet industry reached more than $100 billion in sales last year, the highest level in industry history, according to the American Pet Products Association.

“We are bullish for the coming year, projecting growth of 5.8%—well above the historical average of 3-4%,” said Steve King, APPA’s president and CEO.

According to King, the pet industry generated $103.6 billion in sales last year. “This past year presented a host of challenges that resulted in consumers across the country turning to their pets for comfort and companionship,” he said. “Interestingly, the product trends we are seeing in the pet care community mirror those of consumers—a desire for a healthier lifestyle, increased focus on fitness, turning to supplements for improved well-being, and technology playing a larger role in everyday life.”

Other findings from the “State of the Industry Report” include:

$22.1 billion was spent on supplies, live animals and over-the-counter medications, a 15.1% increase from 2019.
$42 billion was spent on pet food and treats, a 9.7% increase.
$31.4 billion was spent on vet care and product sales, a 7.2% increase.

Spending on services such as grooming, dog walking and boarding declined about 21% from the previous year, to $8.1 billion. Use of these services is expected to rise as pandemic restrictions are lifted.

Pet spending reached record $103 billion last year: APPA