How Much Do Pet Owners Spend on Pets?
How Much Do Pet Owners Spend on Pets?
The answer is quite a lot! As pets have become more and more central to our lives, US consumer spending on pet care has continued to rise. Just look at the jump in the last few years alone – from $90.5 billion in 2018 to an estimated $99 billion in 2020.
US Pet Industry Expenditures*
| Year | Billions of Dollars |
| 2018 | $90.5 |
| 2019 | $95.7 |
| 2020 | $99.00 (estimated) |
The 2020 estimate was prior to the coronavirus pandemic. However, spending on pet care increased even during the years of the recession in the late 2000s, therefore, it is very possible that pet expenditures will continue, especially as many people are working from home and spending more time than ever with their pets.
As with the recession in the late 2000s, while pet owners may cut spending in areas such as dining and travel in response to the coronavirus pandemic, they keep spending on their pets. In addition to seeing pets as part of our families (and worth every dollar!), many of us find comfort in our four-legged companions, especially during hard times.
*Source: American Pet Products Association, http://www.americanpetproducts.org/press_industrytrends.asp