Pandemic Pushes US Pet Spending to $83.74B

Total pet spending in the U.S. hit $83.74 billion in 2020, up 6.8 percent from the year before, according to a new report from John Gibbons, the Pet Business Professor.

The biggest driver of growth was the COVID-19 pandemic, he explains.

“Pet Parents focused on necessities and binge bought Pet Food in the 1^st half of the year,” he writes in a blog entry. “In the 2^nd half they turned their attention to the other necessary segment – Veterinary.”

Two segments that are more discretionary — supplies and services — suffered.

Here’s the breakdown segments:

• $5.65 billion (+18.1 percent) increase in food
• $1.65 billion (-9.8 percent) decrease in supplies
• $3.05 billion (+14.0 percent) increase in veterinary
• $1.73 billion (-20.1 percent) decrease in services

Read the full report here.