Spending trends among US pet parents

According to the American Pet Products Association APPA, the expenditure on pet supplies in the US reached $136.8 billion (€124.1B) in 2022. This is a 10.6% growth since 2021 ($123.6B/€112.1B).

Pet food and treats purchases accounted for $58.1 billion (€52.7B) in 2022, followed by vet care with $35.9 billion (€32.5B). Supplies, live animals, and medicine accounted for $31.5 billion (€28.5B).

American pet parents spent $11.4 billion (€10.3B) on grooming, insurance, training, and pet sitting.

According to the industry association, the numbers clearly depict a committed priority toward pet ownership.

2023 projections

The total projected sales for 2023 in the US are expected to increase by almost 5% to $143.6 billion (€130.3B), with pet food and treats leading the category. The APPA forecasts that these products will represent $62.7 billion (€56.9B) in sales, an increase of 7.9%.

Sales within vet care are expected to increase by 3% to $37 billion (€33.5B), and supplies, live animals, and medicines will account for $32.1 billion (€29.1B). This is 1.9% more than in 2022.

The sales in pet care services such as grooming, training, pet sitting, or insurance represent $11.8 billion (€10.7B), 3.5% more.

“While we outperformed our 2022 forecast, we know this increase can be attributed in large part to higher than anticipated inflation, and we expect spending will follow a similar trajectory and remain steady in 2023,” said APPA President and CEO Peter Scott. 

He added that by 2022 pet ownership normalized and returned to pre-pandemic levels.

Financial approach 

The distribution of pets is equal between two groups for the first time – Gen Z and millennials and Gen X and baby boomers. Out of these, the former groups reportedly spend more on their pets but are equally more concerned about their growing expenses.

“The younger generations report spending more on their pets in the past year but are also more concerned about the expense of pet ownership. The older generations are focused on the benefits of pet ownership and maintaining the level of care they have always given their pets,” it says.

The data concludes that two-thirds of pet owners center their financial plans around their pets. About 31% of pet owners plan to curtail their pet expenditure. However, 75% will continue their level of care, and 56% will spend according to brand loyalty.

The APPA sees that nearly half of the pet owners, led by Gen X and boomers, prefer to buy their pet supplies in person. 

Pet ownership

According to the key findings from APPA’s 2023-2024 study, 86.9 million households in the US, 66% of the total, own at least one pet. 

American households owning a dog total 65.1 million, followed by cats (46.5 million) and freshwater fish (11.1 million). Small animals (6.7 million), birds (6.1 million), reptiles (6 million), saltwater fish (2.2 million), and horses (2.2 million).