The pet and animal supplies market offers owners an endless amount of products to choose from. Numerous varieties and price categories are available within all sections of the market, which includes pet and animal food, health and hygiene products, toys, furniture, collars, bowls, and feeders. Shopping for pet products is easier than ever, with an increasing variety of online and brick-and-mortar retail outlets now selling pet products alongside the traditional pet store.
The coronavirus pandemic had a direct positive impact on levels of pet ownership, as consumers had more time to spend with their furry friends. As life gets back to normal around the world, it is yet to be seen if levels of ownership will continue to rise, stabilize, or decline. Recent trends in human consumption are also impacting the pet market and pushing spending up, with natural, organic, and free-from products gaining traction within the industry.
Pet food sales worldwide from 2010 to 2023 (in billion U.S. dollars)
Further details: Visit original statistic Pet food sales worldwide from 2010 to 2023 (in billion U.S. dollars)
In 2023, pet food sales were estimated to have reached around 133.9 billion U.S. dollars worldwide, an increase of over 30 billion dollars compared to 2020. With an ever-increasing range of products on offer, including organic, premium, and personalized pet food options, it is no surprise that owners are spending more and more on pet food. An increase in pet ownership during lockdowns throughout the the pandemic likely played a role as well.
Pet food market worldwidePet market sales in the United States from 2018 to 2023, by category (in billion U.S. dollars)
Further details: Visit original statistic Pet market sales in the United States from 2018 to 2023, by category (in billion U.S. dollars)
Within the total pet products market, pet food and treats make up the largest share of sales. In the United States, pet food has been the highest-selling product category and maintained the top spot in 2023. Veterinary care and vet products sales make up the second most profitable segment of the market. Smaller sections of the market include general pet supplies, the sale of live animals, over-the-counter medication, and other services.
Pet food industry in the U.S.Sales growth of pet supplements in the United States in 2022, by claim
Further details: Visit original statistic Sales growth of pet supplements in the United States in 2022, by claim
Pet parents are more conscious about their pets' health and wellbeing and are willing to add nutrition their pets' diet. Supplements are becoming increasingly relevant in the pet products market to have a balanced diet for pets. Supplements are being used to improve pets' gut health, behavior, and to reduce their anxiety and stress.
functional pet products sales growthLeading pet food companies worldwide in 2023, based on revenue (in million U.S. dollars)
Further details: Visit original statistic Leading pet food companies worldwide in 2023, based on revenue (in million U.S. dollars)
Nestlé Purina PetCare, headquartered in the U.S., was the leading pet food company worldwide in 2023 based on revenue. The company generated around 21.4 billion U.S. dollars in revenue, followed by Mars Petcare Inc. with around 20 billion U.S. dollars in revenue. The top six pet food companies were all headquartered in the U.S., clearly showcasing the nation’s dominance in this industry.
Manufacturing: Food worldwideRevenue of the pet food market worldwide by country in 2023 (in million U.S. dollars)
Further details: Visit original statistic Revenue of the pet food market worldwide by country in 2023 (in million U.S. dollars)
The United States commands the largest share of the pet food market, with an annual revenue of over 57.3 billion U.S. dollars. China and the United Kingdom ranked in distant second and third places: The size of China's market was over seven times smaller than that of the United States.
Pet ownership rates in the U.S. peaked at 70 percent in 2020. This increase has, no doubt, aided the country to become the top dog. However, ownership rates have since dipped to 66 percent in 2023.
The pet supplies industry revolves around the production, retailing, and consumption of a wide array of products. Veterinary services are generally excluded from this market. The industry can broadly be split into two categories – pet food and pet products. Food and nutrition is the most lucrative section of the market, with the variety of pet food and treats evolving over the last decades to meet the needs of the modern consumer. By revenue, some of the most important pet food companies worldwide include Mars Petcare Inc., Nestlé Purina PetCare, and J.M. Smucker. Pet products includes segments such as hygiene, toys, and accessories.
Most owners consider their pet to be their best friend and a part of the family, leading to companionship being one of the most cited reasons for owning a pet. Live animals, which are commonly kept as pets, include dogs, cats, freshwater and saltwater fish, small animals such as hamsters or guinea pigs, and reptiles.
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