Pet Industry Expenditure in the U.S. (2020-2024)
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The U.S. pet industry has experienced sustained growth over the past five years, as household spending on pet food, healthcare, and related services continues to ascent.
Between 2020 and 2024, total consumer expenditures increased by more than $48 billion, driven by consistent demand across essential and discretionary categories.
As pets become increasingly integrated into American family life, spending patterns reflect a clear shift toward quality care, convenience, and health-focused products.
Key Insights
- Industry expenditures rose from $103.6 billion in 2020 to $151.9 billion in 2024.
- In 2024, pet food & treats and veterinary care accounted for nearly 70% of total industry spending.
- The biggest year-over-year increase occurred in 2021, with the market growing by $20 billion.
- Health, nutrition, and convenience remain top priorities, with steady growth in both core and lifestyle categories.
- While food and vet care dominate, categories like supplies and services have maintained strong performance.
Pet Ownership Across the U.S.
Pet ownership remains widespread across the United States, with dogs and cats being the most commonly kept companions. As of 2024, approximately 68 million U.S. households own at least one dog, while 49 million households have a cat. Smaller but significant numbers of households also care for other animals, including 10 million with freshwater fish, 6 million each with birds, reptiles, and small animals, and about 2 million each with saltwater fish and horses.
Generationally, Millennials make up the largest share of pet owners at 30%, followed by Gen X and Baby Boomers, each accounting for 25%. Gen Z represents 20% of pet owners, a growing segment that is expected to shape future trends through digital engagement and a strong preference for convenience, wellness, and ethically sourced products.
Total U.S. Pet Industry Expenditures (2020–2024)
| Year | Total Expenditures (USD Billion) |
|---|---|
| 2020 | 103.6B |
| 2021 | 123.6B |
| 2022 | 136.8B |
| 2023 | 147.0B |
| 2024 | 151.9B |
The market has shown no annual decline during this period, with average yearly growth of approximately $12 billion. The consistent increases reflect both stable demand for core goods and a rising willingness to invest in pet well-being.
Top Spending Categories in 2024
The pet industry experienced consistent annual gains, with average growth of roughly $12 billion per year. Even as pandemic-related disruptions eased, spending continued to climb steadily, indicating a durable shift in how American households budget for their pets.
In 2024 alone, pet food and treats accounted for $65.8 billion in spending, the largest single category. Veterinary care and related products followed at $39.8 billion, highlighting the increased importance of medical and preventive health services. Supplies, live animals, and over-the-counter medicine represented $33.3 billion, while grooming, boarding, and other services made up the remaining $13.0 billion.
| Category | Spending (USD Billion) |
|---|---|
| Pet Food & Treats | 65.8B |
| Veterinary Care & Product Sales | 39.8B |
| Supplies, Live Animals & OTC Medicine | 33.3B |
| Other Services (e.g., grooming, boarding) | 13.0B |
Category Breakdown
Pet Food & Treats
Spending: $65.8 billion
This category remains the largest in the industry, reflecting ongoing consumer preference for premium, specialized, and natural food products. As dietary awareness increases, spending on pet nutrition continues to outpace other segments.
Veterinary Care & Product Sales
Spending: $39.8 billion
Veterinary services represent the second-highest expenditure, driven by rising demand for routine care, diagnostics, and wellness products. Consumers are prioritizing preventative healthcare for pets, further solidifying this category’s growth.
Supplies, Live Animals & OTC Medicine
Spending: $33.3 billion
This category includes everyday essentials such as collars, leashes, beds, tanks, and over-the-counter health items. It remains a significant portion of consumer spending, supporting long-term pet ownership and care routines.
Other Services
Spending: $13.0 billion
Services such as grooming, training, pet sitting, and boarding continue to expand. Although the smallest category by value, it reflects a shift toward lifestyle and convenience-based spending in the pet economy.
Future Outlook
The U.S. pet industry remains robust and well-diversified, with consistent growth across all major segments. Although the pace of expansion has slowed slightly since 2021, total spending continues to rise year after year.
With food and veterinary care firmly entrenched as essential household expenses, and with increased interest in wellness and lifestyle services, the industry is well-positioned for continued growth in the years ahead.