According to the American Pet Products Association (APPA), 2017 broke new records for pet spending in the United States.
Last year, Americans spent over $69 billion on pets, an increase of 4% over 2016’s $66 billion. Of that, pet food sales continue to account for the biggest portion, with over $29 billion spent. Veterinary care represented the second biggest portion at over $17 billion and is the fastest growing segment, having grown 7% in the past year.
“It’s incredible to not only see growth for the pet industry in general, but to experience growth across all categories — with the exception of ‘live animal purchases’ which remained the same. Talk to any pet owner and they’ll tell you how difficult it is to put a dollar limit on what they’d spend to give their loyal companion a happy life, and it’s this outlook that continues to drive growth.”
— Bob Vetere, President & CEO, APPA