Market Size for Pet Business

Below in this Article, Market Size for Pet Business

Notes & Pointers on Pet Business Market Size

  • Americans spent over $60 billion on their pets in 2015, up from $55.72 billion in 2013.

  • The pet services segment, including grooming, boarding, pet hotels, pet sitting, day care and other services, has been the fastest-growing category

  • Americans spent over $4.5 billion on pet services in 2016 and this figure is expected to rise to over 5 billion by 2018.

  • In Canada, households spent $6.6-billion on pets in 2015, a figure that’s been rising steadily and is expected to reach $8.3 billion by 2018

  • Internationally, China is experiencing annual growth rates in pet ownership of more than 30% annually, making it the third-largest in terms of pets owned after the U.S. and Japan.

    • Euromonitor International has projected India to be the fastest growing global pet market, and the rising pet ownership rates are driving demand for pet food, health products, and pet accessories.

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