In this essay, I will be discussing the topic of “What Is The Biggest Pet Market?,” and I will do my absolute best to cover as much territory as I possibly can with regard to the content of this discussion.
The United States is the
world leader
in the pet market, with a market share of just over 40 percent as of March 2020. Brazil ranked in distant second place, with a share of around five percent. Germany and the United Kingdom both accounted for 4.9 percent of the market.
Pet Industry Worth: How much is the
pet industry worth
2020
The pet industry reached a milestone in 2020, with total sales of $103.6 billion , a historic high, according to the American Pet Products Association (APPA) State of the Industry Report released last week.
Pet Industry Booming: Is the pet industry booming
Globally, the
pet care market
has grown to $261 billion in 2022; up from $245 billion in 2021 An estimated 6.1% compounded annual growth rate (CAGR), will catapult that figure to $350 billion by 2027.
Pet Market: How much is the pet market
It’s estimated the US pet industry reached $99 billion in 2020. The industry is steadily growing, year by year. It grew from $97.5 billion in 2019 to $99 billion in 2020.
Is a
pet business profitable
?
With the growing opportunity in the pet industry, creating a pet business could be an extremely lucrative and rewarding career In fact, 67% of U.S. households own at least one pet. And in 2019, Americans spent $95.7 billion just on their pets.
Pet Industry: What is trending in the pet industry
Examples of trending
pet supplements
include
dog vitamins
, cat fish oil and dog probiotics But perhaps the fastest-growing pet supplement category is CBD. In fact, searches for “CBD for dogs” are up 300% over the last 10 years. Searches for “CBD for dogs” briefly seemed to have peaked.
Dog Owners: What do dog owners buy most
Pet dry food is the most common item purchased by pet owners online. In the case of both pet cats and dogs, the biggest pet category bought online was dry foods; 43% of cat owners who shop online buy dry food, while 44% of dog owners do the same.
Pet Industry: How big is the pet industry 2021
Actual Sales within the U.S. Market in 2021 In 2021, $123.6 billion was spent on our pets in the U.S.
Are cats or dogs more popular 2021?
Popular:
Key Findings. Cats are more popular than dogs in 91 countries , and dogs more popular in 76 countries. The United States, Australia, and the UK are all dog-people countries. New York City had the
highest number
of cat- or
dog-tagged photos
in the world, and 59.6% were about cats rather than dogs.
Pet Owners: What do pet owners spend the most money on
Pet food and treats were the
largest expense
among American pet owners in 2021, followed by veterinary care and products at 32.3 billion. Both expenses increased by about $2 billion from 2020. Demand for premium food and treats is thought to be a major driver behind the increase.
Which country spends the most on pets?
Country:
Global pet care spending per capita by country 2019 Consumers in the United States spent the most on pet care worldwide in 2019 – Americans spent 162 U.S. dollars on a per capita basis on such products in that year. Britain ranked in distant second place, where consumers on average spent 93 U.S. dollars per capita.
How many millennials own dogs?
Dogs:
Millennials also increased significantly in bird ownership, going from 36% in 2018 to 45% in 2020. Nevertheless, dogs are the top choice of pet among millennials. Eighty percent of millennial pet owners have dogs.
Online Pet Stores: Do
online pet stores
make money
Final Thoughts about the Online Pet Store Market Starting your own online pet store has the potential to be very fulfilling and profitable when done correctly By preparing properly and covering all your bases, your business can quickly become established and productive.
Citations
https://www.supermarketnews.com/winning-pet-care/pet-industry-sales-2020-surpass-100-billion-first-time
https://www.petmarketnyc.com/
https://petpedia.co/pet-industry-statistics/
https://villagepetmarket.com/