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Spending on pets in the U.S. hit $147 Billion in 2023, reflecting over twenty years of consistent growth. The pet industry has proven to be highly recession-resistant.
Food & Treats are the largest segment of the U.S. pet market, followed by veterinary care and product sales.
U.S. PET RETAIL INDUSTRY OVERVIEW
Pet stores accounted for approximately $29.4B in sales in 2023 and are expected to continue to grow.
4.0% annual growth reported from 2018-2023 and projected growth of 0.8% annually to 2028.
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