• DVM360_Conference_Charlotte,NC_banner
  • ACVCACVC
  • DVM 360
  • Fetch DVM 360Fetch DVM 360
DVM 360
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
By Role
AssociatesOwnersPractice ManagerStudentsTechnicians
Subscriptions
dvm360 Newsletterdvm360 Magazine
News
All News
Association
Breaking News
Education
Equine
FDA
Law & Ethics
Market Trends
Medical
Politics
Products
Recalls
Regulatory
Media
dvm360 LIVE!™
Expert Interviews
The Vet Blast Podcast
Medical World News
Pet Connections
The Dilemma Live
Vet Perspectives™
Weekly Newscast
dvm360 Insights™
Publications
All Publications
dvm360
Firstline
Supplements
Vetted
Clinical
All Clinical
Anesthesia
Animal Welfare
Behavior
Cardiology
CBD in Pets
Dentistry
Dermatology
Diabetes
Emergency & Critical Care
Endocrinology
Equine Medicine
Exotic Animal Medicine
Feline Medicine
Gastroenterology
Imaging
Infectious Diseases
Integrative Medicine
Nutrition
Oncology
Ophthalmology
Orthopedics
Pain Management
Parasitology
Surgery
Toxicology
Urology & Nephrology
Virtual Care
Business
All Business
Business & Personal Finance
Hospital Design
Personnel Management
Practice Finances
Practice Operations
Wellbeing & Lifestyle
Continuing Education
Conferences
Conference Listing
Conference Proceedings
Upcoming dvm360 Conferences
Resources
CBD in Pets
CE Requirements by State
Contests
Partners
Spotlight Series
Team Meeting in a Box
Toolkit
Top Recommended Veterinary Products
Vet to Vet
Veterinary Heroes
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us

© 2023 MJH Life Sciences and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Advertisement
By Role
  • Associates
  • Owners
  • Practice Manager
  • Students
  • Technicians
Subscriptions
  • dvm360 Newsletter
  • dvm360 Magazine
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us
  • MJHLS Brand Logo

© 2023 MJH Life Sciences™ and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Just can't get enough: Pet spending reaches (another) all-time high

March 26, 2019
dvm360 Staff
dvm360, dvm360 May 2019, Volume 50, Issue 5

New numbers on pet expenditures show growth almost across the board, with Americans spending $72.56 billion in 2018.

According to the American Pet Products Association (APPA), Americans spent $21 billion on their pets in 1996. A mere two decades later, spending had more than tripled to $66.75 billion. In 2018 pet owners outspent themselves again, shelling out a whopping $72.56 billion on pet care and related services, according to an APPA press release, with no signs of slowing down anytime soon.

More money is spent on pet food than any other category, accounting for $30.32 billion in 2018. The second largest category was veterinary care, for which $18.11 billion was spent, followed closely by pet supplies and OTC medications at $16.01 billion. Bringing up the rear for 2018 spending were “other” services (such as grooming, boarding, training and pet sitting) at $6.11 billion and live animal purchases at $2.01 billion.

APPA released these new figures at the 2019 Global Pet Expo in Orlando, Florida, this month, including its prediction that pet spending will rise by another 4 percent this year, reaching an estimated $75.38 billion in 2019.

Advertisement

Driving the growth are two overriding factors: the humanization of our pets and the way millennials pet parent. The largest pet-owning demographic, millennials are prepared to spend beaucoup bucks for the best-quality products and services they can find to maintain the health and well-being of their pets. “Today more than ever, pet owners view their pets as irreplaceable members of their families and lives, and it's thanks to this that we continue to see such incredible growth within the pet care community,” says APPA president and CEO Bob Vetere in the release.

Aside from the fact that more Americans own pets than ever before-and those pets need to eat-increased spending in the pet food category is thought to be due more to pet owners' desire to feed higher-priced, premium foods than to more food being sold. Vetere says continued growth in this category will stem from “opportunities that reside in specialized diets, targeting the aging pet population and pets with unique dietary needs.” Also contributing to anticipated increased spending in this category are fresh food options and subscription delivery programs.

At $18.11 billion, the increased spending on veterinary care in 2018 surpassed growth in any other category. “The frequency of vet visits has likely increased as well,” according to the release, “thanks to lower prices, making care more accessible to a broader audience.”

download issueDownload Issue: dvm360 May 2019

Related Content:

Market TrendsProductsBreaking Newsdvm360 May 2019
Communicating the importance of genetic screening
Communicating the importance of genetic screening
Study reveals Zymox Otic Plus is beneficial and effective
Study reveals Zymox Otic Plus is beneficial and effective
Comparing treatments for restoring the skin barrier in atopic dogs
Comparing treatments for restoring the skin barrier in atopic dogs

Advertisement

Latest News

The Vets appoints Dr Zach Mills to VP of Medical Performance

Communicating the importance of genetic screening

Purina announces its 2023 Pet Care Innovation Prize winners

AmeriVet Veterinary Partners deemed a 2022 Business of the Year

View More Latest News
Advertisement