Pet industry

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The pet industry is the market industry associated with companion animals. It includes things that are associated with the production, consumption and cultural activities linked to the market. Next to nutrition, toys and animal healthcare, new services and products like taxis, kindergartens, hotels, IT appliances, broadcasting, theme parks and funeral services are appearing on the market. [1]

Contents

Economy

Pet Product Store Pets Place Nijmegen.JPG
Pet Product Store

In the United States alone between 2023 and 2024 there was an estimate of 86.9 households owning pets, making for a total pet expenditure of $147 billion. [2] In Europe, the total amount of companion animals in 2022 was estimated to be over 340 million pets. [3] The total pet expenditures can be divided into nutrition, supplies/medicines, veterinarian care, live animal purchases, and other services.

The most commonly found pet in the United States, according to the 2023-2024 APPA National Pet Owners Survey, was the dog with 65.1 million U.S. households owning at least one as a pet. After that comes the cat with 46.5 million households keeping one. The third largest owned pet in the U.S. is the freshwater fish with 11.1 million households owning at least one fish. After that comes small animals (6.7 million households), birds (6.1 million households), reptiles (6 million households), saltwater fish, and horses at 2.2 million households. [4]

The basic annual expenditure for keeping and maintaining a pet dog in the United States is $2,524. [5] For keeping a cat in the United States the costs come to $1,499 per year. [6] These costs include everything such as surgical vet visits, routine vet visits, food, vitamins, and toys. California is the most expensive state to own dogs as the average citizen spends an average of $35,452 in their dog’s lifetime. [5]

Total U.S. Pet Industry Expenditures, 2014-2024 ($ billions) [2]
20142015201620172018201920202021202220232024 (estimated)
Expenditure58.0460.2866.7569.5190.597.1108.9123.6136.8147150.6

Healthcare market

The global animal healthcare market size in 2023 was estimated at $60.72 billion with a Compound Annual Growth Rate (CAGR) of 10.5% between 2024 and 2032. The Global Animal Health Market is estimated to reach 149.02 billion by 2032. [7] A significant part of that is the Companion Healthcare Market estimated to be as large as $22.25  billion in 2023 and is expected to rise to $22.7 billion by 2024 and $61.6 billion by 2033, with a CAGR of 10.6%. [8] The boost of the market primarily has to do with an increase in the adoption of companion animals. [9] The Companion Animal Healthcare Market encompasses vaccines, diagnostics, healthcare products and pharmaceuticals for pets. [10] The market is driven by the increase of pet ownership as well as the increased awareness and need for preventative animal healthcare that comes along with increased human-animal bond awareness. [10] The ongoing advancements in veterinary care and the increased integration of advanced technology have also drastically contributed to the rising market spend. [11]

Pet Care & Management

PetConciergeClub.com (personalized pet care management platform and marketplace) will be customizing pet care throughout the pet lifecycle. PCC is a provider of membership-based pet care services intended to make animal care customized and more convenient, accessible and affordable

Food markets

According to the actual sales within the U.S. market in 2018 of APPA, $30.32 billion was spent on food out of $72.56 billion. on estimated 2019 sales within the U.S. market, food is estimated to increase to $31.68 billion in the U.S. [12] The world's largest pet food markets are in the United States, France, Japan, and Germany, accounting for over half of the sales in pet food. North America is the largest geographical segment of the market studied and accounted for a share of around 39.2% of the overall market. The pet food market is segmented by animal type, product type, ingredient type, sales channel, pricing type, and geography. The shift in pet ‘ownership’ to ‘parenting’ has been a very crucial and defining trend in the pet food market, more so in the developed countries.

See also

Related Research Articles

<span class="mw-page-title-main">Pet</span> Animal kept for companionship rather than utility

A pet, or companion animal, is an animal kept primarily for a person's company or entertainment rather than as a working animal, livestock, or a laboratory animal. Popular pets are often considered to have attractive/cute appearances, intelligence, and relatable personalities, but some pets may be taken in on an altruistic basis and accepted by the owner regardless of these characteristics.

<span class="mw-page-title-main">Dog food</span> Food intended for consumption by dogs usually made from meat

Dog food is specifically formulated and intended for consumption by dogs and other related canines. Dogs are considered to be omnivores with a carnivorous bias. They have the sharp, pointed teeth and shorter gastrointestinal tracts of carnivores, better suited for the consumption of meat than of vegetable substances, yet also have ten genes that are responsible for starch and glucose digestion, as well as the ability to produce amylase, an enzyme that functions to break down carbohydrates into simple sugars – something that obligate carnivores like cats lack. Dogs evolved the ability living alongside humans in agricultural societies, as they managed on scrap leftovers and excrement from humans.

<span class="mw-page-title-main">Pet adoption</span> Adoption of pets that have been abandoned by previous owners

Pet adoption is the process of transferring responsibility for a pet that was previously owned by another party. Common sources for adoptable pets are animal shelters, rescue groups, or other pet owners. Some organizations give adopters ownership of the pet, while others use a guardianship model wherein the organization retains some control over the animal's future use or care.

<span class="mw-page-title-main">Iams</span> Brand of cat and dog food

Iams is an American brand of dog food and cat food manufactured by Spectrum Brands in Europe and Mars, Incorporated worldwide excluding Europe. The food is formulated for the puppy/kitten, adult and mature stages of life. Veterinary formulas for pets with special dietary requirements are also produced.

<span class="mw-page-title-main">Housebreaking</span> Act of training an animal to excrete in a designated area

Housebreaking or house-training is the process of training a domesticated animal that lives with its human owners in a house or other residence to excrete outdoors, or in a designated indoor area, rather than to follow its instinctive behaviour randomly inside the house.

<span class="mw-page-title-main">Nestlé Purina PetCare</span> American pet food manufacturer, subsidiary of the Swiss corporation Nestlé

Nestlé Purina PetCare, or simply Purina, is an American subsidiary of the Swiss corporation Nestlé, based in St. Louis, Missouri. It produces and markets pet food, treats, and cat and dog litter. Some of its pet food brands include Purina Pro Plan, Purina Dog Chow, Friskies, Beneful and Purina One. The company was formed in 2001 by combining Nestlé's Friskies PetCare Company with Ralston Purina, which acquired it for $10.3 billion. As of 2012, it is the second-largest pet food company globally and the largest in the United States.

<span class="mw-page-title-main">Pet store</span> Retailer which sells animals to the public

A pet shop or pet store is an essential services retailer which sells animals and pet care resources to the public. A variety of animal supplies and pet accessories are also sold in pet shops. The products sold include: food, treats, toys, collars, leashes, cat litter, cages and aquariums.

In some countries there is an overpopulation of pets such as cats, dogs, and exotic animals. In the United States, six to eight million animals are brought to shelters each year, of which an estimated three to four million are subsequently euthanized, including 2.7 million considered healthy and adoptable. Euthanasia numbers have declined since the 1970s, when U.S. shelters euthanized an estimated 12 to 20 million animals. Most humane societies, animal shelters and rescue groups urge animal caregivers to have their animals spayed or neutered to prevent the births of unwanted and accidental litters that could contribute to this dynamic.

<span class="mw-page-title-main">PetSmart</span> American pet supply store chain

PetSmart Inc. is a privately held American chain of pet superstores, which sell pet products, services, and small pets. It is the leading North American pet company, and its direct competitor is Petco. Its indirect competitors are Amazon, Walmart, and Target. As of 2020, PetSmart has more than 1,650 stores in the United States and Canada. Its stores sell pet food, pet supplies, pet accessories, and small pets. Stores also provide services including grooming, dog daycare, dog and cat boarding, veterinary care via in-store third-party clinics, and dog training. They also offer dog and cat adoption via in-store adoption centers facilitated by the non-profit PetSmart Charities.

<span class="mw-page-title-main">Pet food</span> Animal feed for pets

Pet food is animal feed intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food. Most meat used for animals is a byproduct of the human food industry, and is not regarded as "human grade".

<span class="mw-page-title-main">Petco</span> American pet supply store chain

Petco Health and Wellness Company, Inc. is an American pet retailer with corporate offices in San Diego and San Antonio. Petco sells pet food, products, and services, as well as certain types of live small animals.

<span class="mw-page-title-main">Royal Canin</span> Dog and cat feed manufacturer

Royal Canin is a French manufacturer and global supplier of cat and dog food. The company is a subsidiary of Mars, Incorporated. It undertakes research into the specific nutritional needs of dogs and cats.

<span class="mw-page-title-main">Dog</span> Domesticated canid species

The dog is a domesticated descendant of the wolf. Also called the domestic dog, it was domesticated from an extinct population of wolves during the Late Pleistocene, over 14,000 years ago by hunter-gatherers, prior to the development of agriculture. The dog was the first species to be domesticated by humans. Experts estimate that due to their long association with humans, dogs have expanded to a large number of domestic individuals and gained the ability to thrive on a starch-rich diet that would be inadequate for other canids.

<span class="mw-page-title-main">Friskies</span> American brand of cat food and treats

Friskies is an American brand of wet and dry cat food and treats owned by Nestlé Purina PetCare Company, a subsidiary of Nestlé global. Friskies was initially introduced by Carnation Company in the 1930s as a dog food brand. When Friskies cat food was introduced in the 1950s, it was the first dry pet food product specifically for cats. The brand was acquired by Nestlé in 1985. From the 1970s to the 2000s, variations in Friskies cat food proliferated as the competition for consumer spending intensified.

<span class="mw-page-title-main">Pet culture in Japan</span> Aspect of Japanese culture

Pet culture in Japan has a long history going back centuries, especially in regards to cats. Pets were originally referred to as aigandōbutsu or short-form aiganbutsu, but the terminology has changed in the 20th century into the anglicised petto (ペット).

<span class="mw-page-title-main">Dog fashion</span> Style in which people dress their dogs

Dog fashion is a popular style or practice, especially in canine clothing and accessories. Dog fashion is a distinctive trend of the style in which people dress their canine companions. This trend dates back to the Egyptian predynastic period and has since expanded due to increased consumer capitalism. Other animals such as cats may also wear fashion.

Pet culture refers to the culture revolving around the interaction of humans and pets.

Pet ownership in South Korea has increased in recent years. Dogs are the most common household animal, owned by 75.3% of pet-owning South Korean households, followed by cats, then goldfish. South Korean pet culture is constantly developing, and the companion animal industry in South Korea is worth an estimated 3.4 trillion won as of 2020.

Dog boarding, also known as dog sitting, refers to overnight care for dogs. It is offered through various establishments, including dog kennels, professional boarding facilities, dog hotels, dog resorts, private dog sitters' homes, or the homes of dog owners.

References

  1. ↑ SEOK, SU-HYUN (2019-09-06). "The market of companion animals, Petconomy - 인하프레스". www.inhapress.com. 인하프레스 (inhapress.com). Retrieved 2019-11-13.
  2. 1 2 "Industry Trends and Stats". American Pet Product Association. 2024. Retrieved June 20, 2024.
  3. ↑ "Analysis: European pet population grew by 11% in 2022". GlobalPETS. Retrieved 2024-06-20.
  4. ↑ "U.S. pet ownership statistics | American Veterinary Medical Association". www.avma.org. Retrieved 2024-06-20.
  5. 1 2 "Top Pet Ownership Statistics and Facts (2024)". MarketWatch - Guides. Retrieved 2024-06-20.
  6. ↑ Financial, Spero (2022-11-01). "The True Cost of Owning a Dog or Cat". Spero Financial. Retrieved 2024-06-20.
  7. ↑ "Global Study on Animal Health Market Size & Share Projected to Reach USD 149.02 Billion By 2032, with 10.5% CAGR growth: Polaris Market Research". Yahoo Finance. 2024-02-13. Retrieved 2024-06-20.
  8. ↑ "Global Study on Animal Health Market Size & Share Projected to Reach USD 149.02 Billion By 2032, with 10.5% CAGR growth: Polaris Market Research". Yahoo Finance. 2024-02-13. Retrieved 2024-06-20.
  9. ↑ ltd, Market Data Forecast. "Companion Animal Healthcare Market Size, Share | 2024 to 2029". Market Data Forecast. Retrieved 2024-06-20.
  10. 1 2 "Companion Animal Health Market to Reach a Valuation of US$ 61.6 Billion by 2033, By Persistence Market Research". Yahoo Finance. 2024-01-16. Retrieved 2024-06-20.
  11. ↑ "Companion Animal Health Market Size, Research Report 2032". www.imarcgroup.com. Retrieved 2024-06-20.
  12. ↑ "Pet Industry Market Size & Ownership Statistics". American Pet Products Association. 2019. Retrieved 2019-11-13.
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