Pet market growth.

Pet market growth The German pet industry is one of Europe’s largest markets, generating €7 billion in 2023, a 9. The global pet care market size was valued at USD 304. Global Pet Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. 8% per year on average between 2018 and 2023. 5bn over 2022-30E and expect the sector to deliver a 2023-25E EPS CAGR of 28%, i. 4B). Pet population in the Philippines Dec 9, 2020 · After pet food and treats, vet care and product sales were responsible for the pet industry growth. Jul 1, 2024 · Germany’s pet industry size. The market is expected to expand from USD 20. In 2023, there was an 16% increase in pet food sales Apr 10, 2024 · Was the pandemic-driven growth of the pet industry a good thing in the long run? The pet industry is doing fantastic in 2024 so far. Key trends are clearly and succinctly summarised alongside the most current research data available. 70 billion by 2033 from USD 6. An estimated 6. There was a 22% growth in the pet health insurance industry in 2023. 3 million (€287M) in 2024 and is projected to reach $443 million (€400M) by 2029. 2 billion by FY2032 How Big is the Pet Industry? Global Market Size & Growth Rate Year-over-Year Worldwide Sales Pet Industry Growth by Region $261B 2022 +6. Europe Pet Market Size. The pet products industry worldwide is expected to reach a projected revenue of US$ 120,781. China’s pet market is projected to grow by 6. 47% between 2024 and 2029. 7% (-1. Pet Grooming Services Market Trends. 3 billion The India Pet Market, in terms of pet products and services, has experienced an escalation in recent years and reached a value of USD 10. Apr 14, 2025 · The global pet care market size was valued at USD 246. 37 billion in 2024 to USD 427. 39 Million by 2034. While in 2023 the performance of the global pet industry registered an increase of 6% against the previous year, in 2024 this growth rate is expected to represent 4. Growth in the global pet dietary supplements market between 2020 and 2030 is likely to be at a CAGR of 7. The Vietnam pet food market is projected to grow at a CAGR of 5. Pet Market Stats. Feb 10, 2023 · Interestingly also, more than 4 out of 10 pet parents have a cat, followed by birds (10%). Surpassing $4 billion (€3. 1% from 2022 to 2030. ; 57% of UK households keep pets. Blessie Zarzuela, a pet food market expert for 15 years, believes that the market will continue to grow by 6% every year due to the increase in pet ownership. 3% respectively from 2016 – 2020. Being the most extensive pet market in North America, the US pet market's growth is attributed to the increase in millennial pet owners and the shift in how pets are viewed. 24% from 2025 to 2033. pet industry expenditures reaching $152 billion in 2024. 70%, to reach USD 5269. A compound annual growth rate of 4. Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts. According to the 2023-2024 APPA National Pet Owners Survey, 66% of households in the United States own a pet, which equates to 86. 21% from 2023 to 2030. Pet nutraceuticals and supplements are the fastest-growing product category. This increase in the pet population directly translates to higher demand for pet food, products, and Mar 22, 2024 · 5. Source information: Pet Food & Treats: Source: Nielsen Scan: Nielsen IQ Scan – 52 Weeks ending 12/31/2024 for xAOC and Total Pet Retail. According to the Indian Pet Industry Joint Advisory Council (IPICA), the sector is set to expand at a compound annual growth rate (CAGR) of 20% over the next five years. India's pet industry is on the brink of significant growth. ; The number of pets in the UK rose 9% between 2022 and 2023 May 19, 2022 · The U. The Canadian pet food market size was $3. 45% during the forecast period. Apr 21, 2021 · Despite the negative effects of the pandemic on supply chains, this market witnessed steady growth. The Indonesia pet care market is estimated to reach USD 2,298. Food represents 51% of total spending Apr 28, 2025 · Globally, the pet insurance industry reached $9. Pet food sales worldwide from 2010 to Apr 14, 2025 · The global pet food market size was valued at USD 126. Mar 22, 2023 · The East Asian pet food market is worth $11 billion. 81% in 2023. The market is anticipated to witness a CAGR of 5. People in the USA spent $89 billion on their pets in 2023. According to Michigan State University, the pet industry had an The pet market is experiencing rapid growth, driven by the increasing trend of pet humanization, rising pet adoption rates, and the demand for premium pet products. Nutrition The largest shifts, in value terms, have been in pet nutrition. 6% is expected of the worldwide pet products industry from 2023 to 2030. There are 13. (According to the North American Pet Health Insurance Association). 9% and 7. Mar 25, 2025 · U. 1% Originally published by Pet Food Industry The U. Pet humanisation trends observed in this market have led to growth in pet care. 8% between 2024 and 2032, driven by growing pet adoption across the globe. The market is projected to surpass USD 5,883. 93 billion in 2025 and grow at a CAGR of 3. 82% to reach USD 4. Apr 26, 2024 · Pet market size in Australia. 9 billion by 2032, for a market growth rate of 3. The overall pet market grew a remarkable 14% in 2021—topping the 10% growth rate it achieved in 2020, according to a recent video interview hosted by Packaged Facts Research Director David Sprinkle. Jul 12, 2024 · Per the latest survey results, annual household spending on pets is predicted to reach $1,445 per animal by 2026 and $1,733 by 2030. Seventy-seven percent of U. , more than triple of its global peers. Oct 25, 2024 · Today, the total Pet Care market is worth more than $83B. The growth of pet tech products market is a result of several factors such as growing pet ownership, technological innovation and heightened pet sentimentalisation. 6B) in 2025. Pet parents’ expenditure rose to an estimated A$33. The pet industry has grown 450% over the past 25 years Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. That explains why the AI-powered insurer Lemonade launched its own pet insurance coverage in 2020. 43%. The Indonesia pet care market is anticipated to contribute a demand share of almost 1. 66 billion in 2023 to USD 368. 62 Billion by 2033, expanding at a CAGR of 5. 4 billion and is expected to grow at a compound annual growth rate of 17. 5% in the global pet care market. Jan 13, 2025 · The 15 Pet Industry Statistics in the UK. pet owners say the current economy has not affected their pet ownership. Rising Pet Ownership. 6%, reaching $114 billion (€103B) in 2025 and expand at an average annual rate of 6% through 2030, reaching $49 billion (€45B). All the positive momentum spurred by the pandemic – which saw a huge increase in pet adoptions due to lifestyle changes, a remote working culture, and more time spent at home – is Dec 12, 2024 · Pet food industry growth rate in Europe 2010-2023. Nov 22, 2024 · The pet market in China is on course to increase by 6. 75 billion by 2032, exhibiting a CAGR of 6. 49 billion, signaling renewed momentum in key global regions. Pets are considered members of the family among a vast majority of pet owners. . Jan 8, 2025 · The US pet food market is expected to grow to $59. 4 million in 2023. 3 million by 2030. 7 billion) in North America. Mar 24, 2023 · The report finds that this growth is boosted by a growing pet population worldwide, as well as the premiumization of food and services resulting from the continued humanization of animal Oct 10, 2024 · The pet industry has become accustomed to steady, consistent growth at high levels throughout the range of products and services being offered. The increasing population of companion animals, pet humanization, strategies implemented by key companies, and increasing expenditure on pets are some of the key drivers of this market. 42 billion by 2034, growing at a CAGR of 4. The market is projected to grow from USD 132. Image Credit: Marinka Buronka, Shutterstock 7. Continued Pet Industry Growth Amid Challenges. pet food industry made notable strides in reclaiming its position in the international market in 2024 despite experiencing setbacks in 2023. 5% from 2023 to 2033. $157 billion in sales is projected for 2025. Mar 13, 2024 · As you’ll see from these stats, the pet industry is in a very strong position, with plenty of growth opportunities in the near future. 88 billion by 2030, exhibiting a CAGR of 5. Pet healthcare includes veterinary services, pharmaceuticals, over-the-counter medications, behavioral therapies, calming therapies, spa treatments, vitamins, allergy treatments, and more. Dec 30, 2024 · In our view, we believe China's pet market has substantial growth potential supported by rising pet ownership, sub-sector diversification and consumption upgrade. By 2030, China will maintain about 10% of the global pet market. ), EBOS Group Limited, Mars Incorporated, Nestle (Purina) and Real Pet Food Co. Since the growing understanding of pets as members of the family, consumers are becoming more concerned on how to improve the health and wellbeing of their pets. The market growth is projected to grow from USD 246. 7 billion (€3. 5%. 4% from 2024-2032. If growth figures are accurate, these numbers will grow U. Growth in the pet healthcare industry outpaces that of human healthcare. Local pet owners are increasingly changing their habits. The country will remain at about 10% of the total global market through to 2030, growing an average of 6% annually to reach $49 billion (€45B). The very low consumer awareness levels not just regarding the different products but also about the basics of pet health Understand the latest market trends and future growth opportunities for the Pet Care industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation. Growth Drivers in the Indonesia Pet Care Apr 7, 2025 · PET PRODUCTS MARKET OVERVIEW. 5 billion (€1. 2% during the forecast period of 2022 to 2032. Feb 12, 2025 · The Philippines’ pet industry is growing rapidly, and pet ownership is rising. In this section, we reveal an in-depth analysis of the key factors influencing Pet Industry growth. Mar 28, 2024 · The remarkable growth of the Southeast Asian pet food market can be primarily attributed to the rapid development of the pet food markets in Thailand, Indonesia and the Philippines. Even in the UK, which has been severely affected by lockdowns and social restrictions, the market is estimated to grow by 3. pet market has shown extraordinary resilience and sales growth in the wake of COVID-19. We estimate the industry could expand at a 12. 1 But, the pet industry is experiencing significant shifts, with growth now being driven exclusively by online sales as brick-and-mortar trends have flattened. 5 million cats in the UK. 7M) pet care sector has doubled over the past 5 years, signaling significant market potential. The pet market size in Europe was worth USD 6. The sharp rise in pet ownership is a key driver of India Pet Market growth. Pet market has been segmented with the help of its Product Type, Pet Type Distribution Channel, and others. 65% during the forecast period and is estimated to reach USD 16. 7% during the forecast period (2021-2026). 57 Billion in 2024, is forecasted to increase to USD 30. 4 billion in 2023 and is anticipated to grow at CAGR of 6. Image Credit: LADO, Shutterstock. Vietnam is a very nascent market and recently opened up the consumer space. Taking a cautiously optimistic approach, Packaged Facts predicts 2024 US pet market growth approaching 5%, with some categories, such as durable products having a harder time. E-commerce pet food sales data powered by NielsenIQ Ecommerce Measurement. 66 billion in 2023 and is projected to grow from USD 259. 66 billion in 2024. Pet Healthcare Industry Statistics. That translates into a 113% increase in total industry spending to $261 billion by 2030, compared with $122 billion in 2019. 52% during the forecast period. Jan 7, 2025 · The 20 Pet Industry Statistics. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 23. 2 million by 2033, at a CAGR of 9. 1% compounded annual growth rate (CAGR), will catapult that figure to $350 billion by 2027. India Pet Care Market size is estimated at INR 74,000 Crore in 2021 and is expected to reach INR 210,000 Crore by 2032, growing at a CAGR of 19. Aug 19, 2024 · Explore the latest pet industry trends and growth with key 2024 statistics, revealing insights into pet care's economic impact and market dynamics. 8B/€21. Annual growth rate of the pet food industry in Europe from 2010 to 2023* Premium Statistic Private labels pet food sales growth in Dec 4, 2024 · Regulations and industry standards. 7% from 2025 to 2030. ” Aug 9, 2024 · China’s pet food and supplies market has enjoyed spectacular growth. Pet owners can buy anything from flea treatments to pet vitamins, CBD tinctures , and much more. Mordor Intelligence reports that the Malaysian pet food industry was valued at $317. Exports grew by 3. The Pet Products Market , worth USD 28. The U. Pet Market Share Analysis Outlook from 2025 to 2035. Let’s begin this list of pet statistics by taking a look at the pet industry as a whole. According to IBIS World, the pet industry’s market size, measured by revenue, was $3. According to recent reports, 71% of Indian respondents own pets, with more than half having two or more pets. The global pet services market size was valued at USD 24. Feb 14, 2025 · Approximately 70% of the $900 million pet industry is made up of pet food with 20% consisting of accessories and pet care items. However, challenges remain, such as a shortage of veterinarians. 61 billion in 2024 and is projected to be worth around USD 230. 4B), which accounts for nearly half of the entire Southeast Asian market. 4 billion in 2022 and is expected to grow at a compound annual growth rate of 17. Longer term, through 2028, the market will see a 6% compound annual growth rate (CAGR). pet grooming services market size was estimated at USD 2. Research by Market Decipher concluded that the pet care market size in the world’s second most populated nation was valued at INR 74,000 crores ($8. 7%, reaching $2. Nowadays, pet lovers no longer consider their furry friends as just animals, but treat them as family, friends, or even children. This growth is driven by pet owners’ desire to ensure their pets receive the best possible care without financial strain. The market grew 4. Jan 6, 2025 · Worldwide pet care market growth in 2017 and 2022, by region* Premium Statistic Sales of pet food worldwide 2010-2023 Sales of pet food worldwide 2010-2023. 5%, while cats accounted for 24. Singapore Pet Market Insights Although a small country, Singapore’s population of pet dogs, cats, and small mammals (hamsters, guinea pigs, and rabbits) has been growing over the years. The rise in expenditure on pet grooming, the increasing number of pet owners in the country, and the availability of diverse service portfolios are driving Sep 1, 2023 · Narrowing it down to the Gulf countries, analysts predict that growth in the pet industry overall will remain in double digits for the remainder of the decade. Apr 26, 2023 · Since 2020, the pet industry in the country has registered an annual growth rate of 22%. Other projections cite a growth of as much as 7% over the next decade. e. Pet Care Market Size and Growth 2025 to 2034. 92% during the forecast period. 5% over the forecast period. Jan 16, 2025 · In 2022, the pet insurance industry reached a market size of $9. 3B) in 2022. This is almost double the country’s GDP forecast. Pet food trends. 67 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5. 04% through 2030. 5 billion in FY2024. The market research company confirms that the pet industry is performing well, but it forecasts a slight slowdown in comparison to previous years. May 27, 2020 · Local pet companies play an important role too, donating food and supplies. The number of pet food manufacturers in China has tripled over the past 5 years. 32 billion in 2022. There will still be growth but it will The global pet care market size was valued at USD 150. The global pet care market size was valued at USD 235. The growth is primarily driven by the pet food segment, which alone accounts for €4. 5 billion (compared to €4 billion in 2022) with cat food making up the largest share, at €2. 9 million households. Apr 18, 2024 · A slower pace of growth. 8% in 2021. Much of this rebound was driven by a strong resurgence in Asia, […] Global pet industry PETS International | May 2021 58 Global developments and trends in the pet industry Despite significant and enduring market shifts due to the COVID-19 pandemic, the global pet industry is expected to adapt and grow at a CAGR of 6% in the coming decade. 6% to $37. The $108 million (€103. 2. The global pet market is worth $246 billion. 5% increase from 2022. Mar 21, 2025 · China’s pet market. Sep 26, 2024 · Growth of the local industry. pet care market size was exhibited at USD 147. That's over. Expert industry market research on the Pets and Pet Supplies Retailers in Australia (2015-2030). 84% throughout the period. 5 billion by 2035, registering a CAGR of 8. 92 billion in 2025 to USD 193. The pet market is growing at a rapid pace due to increasing humanization of pets, growing disposable incomes, and expanding demand for premium pet products and services, leading to a rise in pet ownership worldwide. India Pet Market. The rising trend of pet humanization and increased consumer spending in the household and pet care categories are the major growth drivers Mar 26, 2025 · The pet industry shows continued growth and resiliency, with the total U. are the major companies operating in the market. The largest market both in volume and value terms is Thailand at $1. 4 billion (€34. 74 billion by 2030. 65 billion by 2032, exhibiting a CAGR of 5. The European market is estimated to be worth USD 12. 23 billion in 2024. 92 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9. The India pet care products market attained a value of USD 628. 2 billion ($22. Nowadays, there are unique lines of products dedicated to the wellness and well-being of pets. In Canada, dogs remained the most insured pets at 75. 9% CAGR to Rmb756. Mar 20, 2025 · The Canadian pet food market’s compound annual growth rate is estimated to increase by 4. In Singapore, the dog and cat population have increased by CAGRs of 1. The Australia Pet Food Market is expected to reach USD 3. 4B) in 2023. 9B/€8. 1% CAGR $350B 2027 $300B Aug 18, 2023 · GLOBAL PET MARKET . 06 billion in 2024 and is projected to grow at a CAGR of 6. 74 billion in 2025, growing at a CAGR of 8. 3%). 24 Billion in 2025 and surpass USD 47. Colgate-Palmolive Company (Hill's Pet Nutrition Inc. Growth Drivers. Dogs and cats are often seen as part of the family now, with more and more pet parents switching to premium products. 15 Million in 2024. 5 million dogs and 12. 1 billion in 2025 to USD 44. North America dominated the pet care market with a market share of 33. S. jsowrf myzl vkmqfh hza twhb rrsm ymebbo vmfqv gsptyff suym mby wxju vqbj dzpix qioeuxh