The American Pet Products Association announced that the industry reached $123.6 billion in sales in 2021, the highest level in history.
It was the second consecutive record-setting year for the industry, with continued growth expected for 2022, according to a press release.
“Following a banner year in 2020 when the industry exceeded $100 billion in sales for the first time, APPA was optimistic it would see continued strong sales in 2021, estimating growth would approach 6% and bring total sales to $109.6 billion by year-end,” the release explained. “Actuals eclipsed even bullish estimates at 13.5% growth year-over-year.”
“The numbers don’t lie: The pet industry has shown itself to be incredibly strong and resilient with a record-breaking two years,” said Anne Ferrante, APPA senior vice president of member relations and business development. “We expect continued growth as we look toward the remainder of 2022, although we anticipate it may be at a more moderate pace given the impact of volatile factors like inflation, supply chain issues and global relations.”
State of the Industry data for 2021 revealed increases in every spend category. Specifically:
- $50 billion was spent on pet food and treats, the highest spend category at a 13.6% increase
- At 17.8%, supplies, live animals and OTC meds saw the biggest increase, with a total spend of $29.8 billion
- Vet care and product sales landed as the second highest spend category at $34.3 billion, an 8.9% increase
- Other services (including grooming, dog walking and boarding) totaled $9.5 billion spent, a 17.3% increase
For more information about APPA, its annual State of the Industry data and other available market research, click here.