Amid the COVID-19 pandemic, American pet parents have spent more money than ever on their animal companions, exceeding over $100 billion in sales for the first time in industry history.
Dogs, cats and other critters continue to provide solace to their humans during the COVID-19 pandemic – and they’re being rewarded with gifts. In fact, the amount of money Americans are spending on pet supplies, food, treats, vet care and products has increased significantly since the start of 2020, and they’re showing no signs of slowing down. Last week, the American Pet Products Association (APPA) announced that the pet industry has reached over $100 billion in annual sales, the highest level in industry history.
“We have reached a critical milestone, generating $103.6 billion in sales,” said Steve King, President and CEO of APPA. “This past year presented a host of challenges that resulted in consumers across the country turning to their pets for comfort and companionship. Interestingly, the product trends we are seeing in the pet care community mirror those of consumers – a desire for a healthier lifestyle, increased focus on fitness, turning to supplements for improved well-being, and technology playing a larger role in everyday life.”
Other trends from this year’s APPA report included:
For more information about APPA and its annual State of the Industry Report, visit americanpetproducts.org/press_industrytrends.asp.