Pet Supplies Market Hits $18.58B

Consumers spent $18.58 billion on pet supplies in 2017, according to the Pet Business Professor blog.

That represented an increase of $2.74 billion, or 17.3 percent, versus 2016.

The blog’s John Gibbons wrote: “While Pet Food spending has shown a definite pattern, Pet Supplies have been on a roller coaster ride since 2009. Many Supplies categories have become commoditized and react strongly to changes in the CPI. Prices go up and spending goes down … and vice versa.”

In many cases, dollars saved in one of the two categories are spent in the other.

But in 2017, spending increased in both categories. (It was up $4.61 billion, or 17.4 percent, in pet food.)

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Interestingly, prices in both categories deflated, Gibbons wrote.

“Value was the ‘word’ and it was available across the market,” he explained.

Read more at Pet Business Professor