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The American Pet Products Association (APPA) released their annual report on the “Pet Industry Market Size & Ownership Statistics,” and it shows that pet parents are spending more than ever on their fur babies.
In 2017, pet parent expenditures totaled $69.51 billion; however, for 2018, the APPA is estimating that pet parents will have spent around $72.13 billion.
The APPA estimates that within US markets, the majority of spending will be on food, followed by pet supplies and over-the-counter (OTC) medicine. Their full estimated breakdown for 2018 pet parent spending in the pet industry is as follows:
Food – $29.88 billion
Supplies/OTC Medicine – $15.51 billion
Vet Care – $18.26 billion
Other Services – $6.47 billion
Live animal purchases – $2.01 billion
These pet parent spending statistics are not just limited to dogs and cats, though. The APPA accounts for expenditures on pet supplies for all pets: dogs, cats, birds, horses, freshwater fish, saltwater fish, reptiles and small animals.
According to the APPA’s most recent National Pet Owners Survey, the number of US households that own a pet is on the rise as well:
Dog – 60.2 million
Cat – 47.1 million
Freshwater Fish – 12.5 million
Bird – 7.9 million
Small Animal – 6.7 million
Reptile – 4.7 million
Horse – 2.6 million
Saltwater Fish – 2.5 million
The ever-increasing pet parent spending and pet ownership trends indicate that not only are more people making pets are part of their family, but that pet ownership attitudes are evolving as well. Pets are fast becoming considered family members who deserve plenty of pampering, spoiling and care.
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