Continuing to grow

As in most other countries around the world, the number of pets grew sharply in the USA during the Covid-19 pandemic. This gave rise to growth for the American pet sector exceeding the level prior to the pandemic, and an upward trend in the sector that continued unabated even after the threat from Covid-19 diminished. In fact, despite the difficult economic situation and high inflation rates, the growth has persisted. In 2022, Americans spent 136.8 bn dollars on their pets. The American Pet Products Association (APPA) expects consumer spending on pets to increase further this year to 143.6 bn dollars.

Last year, pet food and treats were the biggest category in the sector with a volume of sales of 58.1 bn dollars. APPA believes this will rise again in 2023 to 62.6 bn dollars. Veterinary care and product sales ranked second on the list, confirming that the health and wellbeing of their animal companions assume a high priority for Americans. Expenditure on this category amounted to 35.9 bn dollars last year, and the industry association foresees an increase here to 37 bn dollars this year. Supplies, live animals and over-the-counter (OTC) medicine also assume considerable significance in the US pet product market, with a reported volume of sales of 31.5 bn dollars in 2022. This year, APPA forecasts modest growth to 32.1 bn dollars. Other services cover boarding, grooming, insurance, training, pet sitting, walking and all services outside veterinary care. These generated sales of 11.4 bn dollars in 2022 and could be worth as much as 11.8 bn dollars in sales in 2023, according to APPA.

The continuing growth in sales is based on the extensive spread of pet-owning in American society. 86.9 million Americans own at least one pet, equivalent to 66 per cent of all households. Dogs are the most popular pets and numbered 65.1 mio last year. In second place were cats with a population of around 46.5 mio across the country. 11.1 mio freshwater fish and 2.2 mio marine fish underline the continuing popularity of aquariums in the USA. Small animals (6.7 mio), cage birds (6.1 mio) and reptiles (6 mio) enjoy a similar level of interest, while around 2.2 mio horses are kept as pets. 

Another interesting statistic shows the distribution of pets according to the age groups of owners. Millenials (27- to 43-year-olds) are the biggest pet-owning group, accounting for 33 per cent, followed by Generation X…