The American Pet Products Association (APPA) recently announced that the pet industry has exceeded US$123 billion in sales in 2021, setting a new record. This follows on from the industry exceeding US$100 billion in sales in 2020, with continued growth expected for 2022.
APPA predicted growing sales in 2021 at around 6%, but actual totals reflect a growth of 13.5%. Industry data from 2021 reflect an increase in spending for each of the categories, incorporating petfood and treats, vet care and products, supplies and live animals, and other services.
US$50 billion was spent on petfood and treats with an increase of 13.6%, whilst for supplies and live animals this was the biggest increase, at 17.8%. Vet care and products saw a spend of US$34.3 billion and other services – which covers grooming dog walking and boarding – was US$9.5 billion, a 17.3% increase.
“The numbers don’t lie,” explains APPA Senior Vice President of Member Relations & Business Development, Anne Ferrante. “The pet industry has shown itself to be incredibly strong and resilient with a record-breaking two years. We expected continued growth as we look toward the remainder of 2022, although we anticipate it may be at a more moderate pace given the impact of volatile factors like inflation, supply chain issues and global relations.”
Since 1998, APPA has published biennial APPA National Pet Owners Survey, which provides insight and data into consumer behaviour, product and service consumption, alongside lifestyle and media habits. In addition, the association publishes the APPA Generational Report, which was most recently published in March of this year and discovered that Millennials and Gen Z were likely to have bought a pet during the pandemic and had spent the most online compared with other generations.
The association is comprised of almost 1000 pet product manufacturers, their representatives, and importers and livestock suppliers. It strives to serve the interests of the pet products industry.
For more information on APPA visit their website, HERE.