Americans Are Spending More on Pets Than Ever Before
Gourmet pet food and deluxe pampering are taking owners’ spending habits to new heights
Most proud pet owners would agree, they’d do (almost) anything for their furry friends—no matter the cost.
Earlier this spring, the American Pet Products Association announced a shocking industry-wide figure for just how much Americans spent on their pets last year—and it’s more than ever before, at $69.51 billion dollars.
Though actual pet purchases and adoptions haven’t increased, people are definitely dropping more dough on them—nearly three billion more dollars were spent last year than in the previous year, in categories like pet care and pampering. With a piqued interest in pet nutrition and gourmet food suppliers on the rise, it’s no surprise that pet food was the highest cost for owners, with veterinary care coming in second.
But perhaps among the most interesting category to experience major growth is the pet service industry, which covers everything from Wag! walks to five-star pet hotels, as well as your everyday grooming, boarding, and pet-sitting services. And even pet tech costs took a leap, as evidenced by the plethora of activity trackers, smart feeders, and video monitors on the market.