Pet Spending Statistics

Truth About Pet Spending

Discover how much pet owners spend on pet ownership and the factors driving these expenses.

Global Pet Spending

The Pet Care Market is worth $207.9 billion globally, with the pet food industry and pet insurance market expected to reach $325.75 billion by 2028.

U.S. Pet Spending

U.S. citizens spent a whopping $123.6 billion on their pets, with $44.1 billion spent on pet food and treats alone in 2021.

Pet Spending in Other Countries

Australians spent $30.7 billion on their pets in 2021, while Chinese spent $31.89 billion in 2020. In the U.K., adults aged 65-74 spend the most on their pets.

Pet Insurance Growth

The number of insured pets in the U.S. has increased by 28.3%. 81.7% of dogs are insured compared to 18.3% of cats.

Millennials and Pet Spending

During the pandemic, 61% of U.S. millennials cut back on their pet spending. However, many younger generations prefer pet parenting over having children.

Special Occasions and Pets

Americans splurged $1.7 billion to buy Valentine’s gifts for their pets and $490 million on Halloween costumes for them.

Pet Ownership Insights

Two out of three U.S. households now home a pet, meaning animals live in 90.5 million homes among us.

Future of Pet Spending

With the rise in pet ownership and the trend of considering pets as family members, pet spending is expected to reach new heights in the coming years.

Read More