How important is the pet market in the United States?
The pet food and pet accessories market in the United States is growing and booming, making it one of the most exciting trends in supermarkets and online sales.
Nowadays, pet owners are not only satisfied with giving them balanced food, in which the category of dogs and cats stands out.
The new mega trends show us that the subspecialties in these foods are based on increasingly prominent niches, such as home-prepared foods, pet foods, from small to large, and others prepared with special recipes for adult animals.
Pet market data
Pet owners by generation
- Gen Z – 16%
- Millennial – 33%
- Gen X – 25%
- Baby Boomer – 2%
However, this growth or area of opportunity is not only in traditional food but also in purchasing snacks, such as cookies and other small snacks. In addition, exponential spending is on the sale of accessories, ranging from leashes to sweaters, ornaments, and costumes for all breeds.
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Figures published by the American Pet Products Association (APPA) report that in 2023, consumers spent $147 billion on their pets.
In turn, worldwide spending on pets will be approximately $259.7 billion in 2024, with exponential annual growth projected to pass $400 billion by 2032.
66% of households in the U.S. own a pet
The top three pets living in U.S. households are:
- Dogs
- Cats
- Freshwater fish
Products such as CBD, probiotics, and toys will be in the highest demand over the next two years. However, accessories such as cat litter boxes, electronic waterers, and flea control products are the most purchased during pets’ lifetime.
In addition, the pet market has parallel niches in the sale of pet insurance and the purchase and sale of medicines when pets have diseases, without counting the plans for veterinary visits or funeral services of all kinds.
The information presented above shows us an excellent opportunity to increase supermarkets’ sales by adding counters or sections specialized in pet products.