U.S. Pet Industry Reaches $147 Billion in Sales in 2023
STAMFORD, Conn., March 22, 2024 /PRNewswire/ -- The American Pet Products Association (APPA) announced yesterday that the total U.S. pet industry expenditures reached $147 billion in 2023 and is forecasted to have solid year-over-year growth through 2030. The announcement came during Global Pet Expo, the pet industry's premier event, co-produced by APPA and the Pet Industry Distributors Association (PIDA). The expenditures were released in conjunction with the launch of the association's first of four quarterly reports, APPA's State of the Industry: Strategic Insights from the National Pet Owners Survey 2024.
- The announcement came during Global Pet Expo, the pet industry's premier event, co-produced by APPA and the Pet Industry Distributors Association (PIDA).
- APPA's pet industry expenditures encompass spending in four major categories: Pet Food & Treats; Supplies, Live Animals & OTC (over the counter) Medicine; Vet Care & Product Sales; and Other Services.
- The breakdown of actual sales within the U.S. market in 2023 are as follows:
$32 billion was spent on supplies, live animals and OTC medicine
$12.3 billion was spent on other services (boarding, grooming, insurance, training, pet sitting and walking and all services outside of veterinary care)
APPA's new State of the Industry Report also revealed new findings for the pet industry. - In 2023, the pet industry supplied an overall economic contribution of $303 billion, an increase of 16% from $260 billion in 2022.