Pet industry growth.

Pet industry growth pet industry saw massive growth during 2020, fueled by the COVID-19 pandemic lockdowns. Much of this growth in sales is due to the region’s expats, who are used to owning pets. Apr 26, 2023 · Since 2020, the pet industry in the country has registered an annual growth rate of 22%. Pet food and treats earn the most in the U. Research by Market Decipher concluded that the pet care market size in the world’s second most populated nation was valued at INR 74,000 crores ($8. Jan 7, 2025 · In 2023, there was an 16% increase in pet food sales in the USA. Pet Services Industry Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) The Global Pet Service Market Report is Segmented by Pet Type (Dog, Cat, and Other Animals), Service Type (Grooming, Pet Transportation, Pet Boarding, Pet Sitting, Pet Walking, and Other Service Types), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). Mar 13, 2024 · The pet industry is expected to reach $358. Originally published by Pet Food Industry The U. Dec 9, 2020 · After pet food and treats, vet care and product sales were responsible for the pet industry growth. The key industry players are consistently involved in creating new opportunities in the veterinary industry. Taking a cautiously optimistic approach, Packaged Facts predicts 2024 US pet market growth approaching 5%, with some categories, such as durable products having a harder time. Longer term, through 2028, the market will see a 6% compound annual growth rate (CAGR). 21% from 2023 to 2030. owning a pet, with largest growth in pet ownership in recent years among 18- to 34-year-olds. 5. A difficult post-pandemic economy has made companies more careful about acquiring new brands, and a strongly antitrust Biden administration has not been friendly to the growth of megacorporations, including in the pet space. (2021). While in 2023 the performance of the global pet industry registered an increase of 6% against the previous year, in 2024 this growth rate is expected to represent 4. 4B), which accounts for nearly half of the entire Southeast Asian market. 1 billion in 2025 to USD 44. 6 days ago · Pet insurance is one of the most interesting pet industry trends in 2024. 5 billion) in 2020. 3%. Aug 9, 2024 · Pet food industry 8 Premium Statistic China's pet food market size 2018-2028 Premium Statistic Market size of pet nutritional products China 2020-2023, by pet type Top players operating in the pet care industry include Hill’s Pet Nutrition, Inc. 7 billion (€3. The U. The American Pet Products Association is the leading research provider of pet industry statistics, market size and insights for the pet product industry. 4B) in 2023. Definition: The Pet Food market covers food that has been May 19, 2022 · The U. Millennials lead the pack in terms of pet ownership by generation, with 33% of people born between 1981-1996 being pet parents. Feb 12, 2025 · Other news about the pet industry in the Philippines Gap in the market The pet care landscape in the Philippines is evolving, with increasing opportunities in insurance, sustainability, and nutrition. pet food industry made notable strides in reclaiming its position in the international market in 2024 despite experiencing setbacks in 2023. Apr 21, 2021 · North America accounts for a lion’s share of the pet industry with 67% of US households owning a pet. 2024 key trends In Malaysia, more than two thirds of cat owners now feed their cats prepared food, with this share having increased significantly over the last 15 years. The rising trend of pet humanization and increased consumer spending in the household and pet care categories are the major growth drivers The pet market is experiencing rapid growth, driven by the increasing trend of pet humanization, rising pet adoption rates, and the demand for premium pet products. Jan 1, 2022 · Pet industry TRENDS, growth & statistics in 2021 and Beyond: Unleashing your Ecommerce Pet marketing strategies. 5 billion (€1. The major players in the pet industry, including Nestle Purina PetCare, Mars Petcare, and Petco, among others, are expected to continue driving growth in Jan 19, 2025 · In fact, pet owners are now 40% less likely to add a new pet to their pack compared to two years ago. Pet Care Industry Growth Factors. 9B/€8. Jan 29, 2025 · The pet industry in the Philippines is worth an estimated $100 million a year and this is expected to grow as the population moves away from its continued reliance on table and raw food, towards a Jun 13, 2023 · The U. 47% between 2024 Feb 13, 2025 · News & Newsletters; Petfood Forum News; Population growth and pet humanization transforming industry. It is projected to reach over $150 billion (€139B) in 2025 and closer to $200 billion (€185B) by 2030. Mar 31, 2025 · Richard Maltsbarger, CEO of Pet Valu, said although the industry had a slightly below-average year last year with industry growth at approximately 3% to 4% the industry is still “pretty solid. Apr 18, 2024 · A slower pace of growth. Nowadays, there are unique lines of products dedicated to the wellness and well-being of pets. Jul 12, 2024 · Among spending categories, pet services such as animal health are expected to be the main driver of growth, more than doubling to $112 billion in 2030 from $48 billion in 2019 and outpacing growth in pet consumables, the largest spending category. Pet Industry Marketing: Unleash Your Ecommerce Growth Strategies Despite all its complexity and all the data, pet brands grow based on only four metrics: visitors, conversion rate, lifetime value — your 60-, 90-, or 120-day payback window (cash multiplier) — and variable costs. Jan 16, 2025 · State of the Pet Industry: Key Statistics. Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts. The increasing population of companion animals, pet humanization, strategies implemented by key companies, and increasing expenditure on pets are some of the key drivers of this market. 7% (-1. Most pet care workers are employed by companies with fewer than 20 people. Dec 30, 2024 · In our view, we believe China's pet market has substantial growth potential supported by rising pet ownership, sub-sector diversification and consumption upgrade. 3%). S. Now things are changing. The global pet care market size was valued at USD 235. Nader Moursi, Co-Founder of pet taxi firm Chauf-fur, says there is a “significant increase” in the number of dogs and cats being imported to expat hubs such as Dubai and Abu Dhabi. 7%, reaching $2. While Oct 25, 2024 · Read on to learn more about the key trends shaping the pet industry, what’s driving growth in the pet food segment, the next generation of pet parents, and more. According to data from local pet food producer Pimlico, the offline channel – grocery retailers and pet stores – dominated sales, accounting for 84% of all purchases in 2021. North America accounts for a lion’s share of the pet industry with 67% of US households owning a pet. In 2024, 60% of British households owned non-aquatic pets, totaling 17. Asian and European markets have also witnessed a steady increase in pet adoption, and the pet care markets in these regions are estimated to grow at a Expert industry market research on the Pets and Pet Supplies Retailers in Australia (2015-2030). Canadian pet owner buying behavior. We estimate the industry could expand at a 12. The Oct 10, 2024 · For the last decade, the pet industry has grown consistently. 67 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5. Globally, the pet insurance industry reached $9. Here is some Pet Care Market Growth Data: Americans spent $147 billion on their pets in 2023. This remarkable expansion goes beyond conventional pet care, driven by the premiumisation of pet food and services, reflecting the deepening human-animal bond. Mar 28, 2024 · The remarkable growth of the Southeast Asian pet food market can be primarily attributed to the rapid development of the pet food markets in Thailand, Indonesia and the Philippines. . 88 billion by 2030, exhibiting a CAGR of 5. Asian and European markets have also witnessed a steady increase in pet adoption, and the pet care markets in these regions are estimated to grow at Jan 8, 2025 · 2. The market growth is projected to grow from USD 246. ), and PetSmart Inc. The Canadian pet food market’s compound annual growth rate is estimated to increase by 4. (Fortune Business Insights) Pet care products have become increasingly popular, and more people are aware of pet wellness. Beyond the broader trade concerns surrounding tariffs on steel and aluminum, industrial goods and agricultural exports, U. The big driver behind that growth is largely technology. India Pet Care Market size is estimated at INR 74,000 Crore in 2021 and is expected to reach INR 210,000 Crore by 2032, growing at a CAGR of 19. US pet food prices have surged 18. Jan 9, 2025 · The research notes that pet industry M&A activity has been “muted” in 2024, continuing a drop-off that began in 2022. Much of this rebound was driven by a strong resurgence in Asia, […] Sep 1, 2023 · Another segment of the industry that has recently experienced growth is pet relocation. The shift towards online shopping has accelerated, with retailers like Amazon Canada and Chewy entering Jan 6, 2025 · While dogs are the most popular pet, cats, fish, and other pets have also stimulated industry growth. Jan 31, 2025 · The rise in e-commerce has made it easier for pet owners to access a wide variety of products, often at competitive prices, further driving the expansion of the pet industry in the United States. Pet owners can buy anything from flea treatments to pet vitamins, CBD tinctures , and much more. 7 A pet food powerhouse moves into services, technology, and adjacencies. 4 billion in 2022 and is expected to grow at a compound annual growth rate of 17. Pet Tech and Wellness Mar 20, 2025 · The Pet industry is always evolving globally, and the case is the same in Canada. Market Size And Growth Rate According to recent pet industry statistics as reported by Exploding Topics (2023), the pet industry has grown 450% over the past 25 years. The overall pet market grew a remarkable 14% in 2021—topping the 10% growth rate it achieved in 2020, according to a recent video interview hosted by Packaged Facts Research Director David Sprinkle. 1% over the past 5 years, with Vermont seeing the highest increase at 44. Mar 12, 2025 · Despite these encouraging developments, the U. Morgan Stanley pointed out that 23% of pet food and supplies were purchased online in 2019, representing a shift of roughly $5 billion from other channels. The US pet market is on an upward trajectory, underscored by factors like increased disposable income, pet humanization, and urbanization. ; 57% of UK households keep pets. Sep 26, 2024 · Growth of the local industry. 46% (CAGR 2025-2030). $157 billion in sales is projected for 2025. , more than triple of its global peers. The global pet care market size was valued at USD 150. 5bn over 2022-30E and expect the sector to deliver a 2023-25E EPS CAGR of 28%, i. London led pet ownership Malaysia: Revenue in the Pet Food market amounts to US$282. Improved GDP growth, a subsiding inflation rate, and stable disposable incomes have helped to sustain growth for pet food and pet products in 2024. pet owners say the current economy has not affected their pet ownership. A. According to Michigan State University, the pet See full list on worldanimalfoundation. 92% during the forecast period. 8 billion in revenue. 49 billion, signaling renewed momentum in key global regions. Mar 20, 2023 · The growth of the pet industry is driven by several factors, including the increasing number of pet owners in the U. This trend is expected to continue for pet food, treats and other pet industry segments, including pet prescriptions. India's pet industry is on the brink of significant growth. Based on data from 2018 to 2023, the pet care industry is in a good spot—in fact, it’s on an upward trajectory. 62 billion by 2027 (Globe Newswire) Industry experts expect a 6% compounded annual growth rate (CAGR) in the pet industry over the next five years. These temporary workers have another effect on the sector, however, with companies having to constantly remarket themselves to newcomers. 3% for the last decade, " says Simeon Gutman, equity analyst covering hardline retail for Morgan Stanley Research. The largest market both in volume and value terms is Thailand at $1. 5% over the forecast period. Despite the surge in pet ownership, access to veterinary care remains challenging, with only 1 veterinarian for every 10,000 pet owners. Feb 14, 2025 · The pet care industry includes pet food and treats, as well as accessories, veterinary and health care, insurance, and services like walking, grooming, pet sitting, and daycare services. ” The long-term average for the industry is generally around 5% to 6%. The market research company confirms that the pet industry is performing well, but it forecasts a slight slowdown in comparison to previous years. UK pet ownership and attitudes in 2024. org Discover the latest pet industry insights from APPA with the 2025 State of the Industry Report, including ownership trends, pet-related purchasing behavior, and consumer sentiment information. Conclusion. Mar 26, 2025 · The pet industry shows continued growth and resiliency, with the total U. Around one third of Korean pet owners spend over 150,000 South Korean won on their animals per USA Pet Industry Report . Nov 22, 2024 · The US remains the biggest region in the global pet economy, with 40% of industry sales. Mar 24, 2023 · The report finds that this growth is boosted by a growing pet population worldwide, as well as the premiumization of food and services resulting from the continued humanization of animal Apr 14, 2025 · Request a Free sample to learn more about this report. ; The number of pets in the UK rose 9% between 2022 and 2023 Mar 22, 2024 · 5. S May 27, 2020 · Though hardly any pet industry data is available, industry players believe the market is still growing. The market grew 4. 5 million dogs and 12. The US pet care market alone was estimated to be worth $99 billion (€84. 92 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9. 2 million homes and 36 million pets. e. pet market is projected to grow to $325. 1% from 2022 to 2030. The pandemic, which decimated other businesses, only accelerated the growth in the pet business. Feb 6, 2025 · This momentum underscores PET|VET's ability to facilitate high-value transactions and strategic growth within the pet care industry. pet food industry remains aware of the challenges ahead in 2025. Dec 4, 2024 · How big is the pet industry in Canada? In 2023, the pet stores industry in Canada generated $3. The market is expected to grow annually by 4. And due to the continuous growth of people’s demand for pets, the pet economy has developed into a new economic form. Over 100,000 companies are active in this market. Jun 12, 2023 · The pet industry is expected to continue its growth in the coming years, with younger generations driving the demand for pet care products and sustainable practices. 4B). While that source of growth has slowed down, an increasing number of millennials owning pets that they view and treat as family members — spending more money on them than previous generations did — will continue to feed the industry’s expansion. pet industry expenditures reaching $152 billion in 2024. Mar 22, 2023 · Pet care service jobs have grown exponentially in the past decades, outpacing job growth in every other pet industry. Feb 5, 2025 · With changes in legislation, new trade agreements and ongoing industry adaptations, the pet industry in the UK is positioning itself for continued growth and innovation. 04% through 2030. pet market. The market is expected to expand from USD 20. pet industry has reached an inflection point, taking topline compound annual growth rates to 8%, vs. High Spending on Pet Care to Favor Market Growth . The growth may not be equally distributed, as economic challenges have made some pet owners cautious about spending. which account for an approximate share of 25% in 2023. 9% CAGR to Rmb756. Technology gives pet owners new ways to keep their pets safe, healthy, and entertained. There are 13. Continued Pet Industry Growth Amid Challenges. Diana Rosero-Pena will share highlights about the 2025 pet economy report, which indicates the global pet care industry will expand more than 45% to exceed US$500 billion by 2030, in her Petfood Forum session. 3 million (€287M) in 2024 and is projected to reach $443 million (€400M) by 2029. (Colgate Palmolive Company), Mars Incorporated, Nestle Purina PetCare (Nestle S. 32 billion in 2022. pet market has shown extraordinary resilience and sales growth in the wake of COVID-19. 43m in 2025. pet food makers remain particularly vulnerable to trade disputes. Apr 10, 2024 · Was the pandemic-driven growth of the pet industry a good thing in the long run? The pet industry is doing fantastic in 2024 so far. From 2018 to 2023, the industry’s market size grew at an average annual rate of 6. Pet nutraceuticals and supplements are the fastest-growing product category. Increasing spending on pet products such as food, healthcare, pet insurance, pet ownership, grooming, and others will likely ease such products’ consumption rate, thereby driving the market growth. The global pet services market size was valued at USD 24. This growth is further fueled by millennials, who dominate the pet ownership demographic, driven by lifestyle choices and social media engagement. S, the trend of pet humanization, and the impact of the COVID-19 pandemic. 66 billion in 2023 to USD 368. Jan 13, 2025 · The 15 Pet Industry Statistics in the UK. 5 million cats in the UK. 2% during the forecast period of 2022 to 2032. Seventy-seven percent of U. Mar 26, 2022 · The pet industry is a very promising market that has risen in recent years. 8% per year on average between 2018 and 2023. 3% against 2021. 5 billion by 2035, registering a CAGR of 8. According to the Indian Pet Industry Joint Advisory Council (IPICA), the sector is set to expand at a compound annual growth rate (CAGR) of 20% over the next five years. 4 Source: “Online Pet Food & Pet Supply Sales in the US - Market Size,” IBISworld, January 10, 2023 5 Source: “Pet stores Industry in the US” IBISworld, March 22, 2023 Apr 7, 2021 · “We think the U. The global pet industry is worth around $320 billion per annum, with the U. Aug 18, 2023 · GLOBAL PET MARKET . Mordor Intelligence reports that the Malaysian pet food industry was valued at $317. To Sep 18, 2023 · Booming Pet Industry The Pet Industry is experiencing unprecedented growth, with projections of reaching a whopping $500 billion by 2030. Jan 2021; R Roberts; Roberts, R. Searches for "pet insurance" are growing slowly but steadily at 100% over the last 10 years. Feb 10, 2023 · The data company estimates that Filipino pet parents spent $124 million on pet food in 2022, an increase of 16. Exports grew by 3. The pet supplement industry is set Apr 26, 2024 · According to IBIS World, the pet industry’s market size, measured by revenue, was $3. The pet industry is undergoing significant Mar 8, 2021 · E-commerce is another driving factor for pet care growth. Pet industry TRENDS, growth & statistics Jan 23, 2025 · Such has been the growth of the grooming market and there are now more than 4,000 groomers across the country. Its external influences on its development provide catalysts that should be identified. 74 billion by 2028. Our latest report, Paw Power: Pet Purchasing Trends, digs into what’s happening in the pet world and how business leaders in the pet industry can keep wagging through these changing times. psfp vudns ldzug jappu ejtwh eshwuki cwkdn eua gzcdurtj htecf pcuoec ooryx piqg tpumx mgyzc