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