Total pet spending in the U.S. hit $99.98 billion in 2021, up 19.4 percent from the year before, according to a new report from John Gibbons, the Pet Business Professor.
Pet food spending fell “because there was no binge buying in 2021,” Gibbons wrote. However, spending in the other segments skyrocketed to producing the industry’s “biggest increase in history.”
Here are the sector numbers:
- Food: $2.44 billion (-6.6%) decrease
- Supplies: $8.65B (+57.0%) increase
- Veterinary: $7.82B (+31.5%) increase
- Services $2.21B (+32.0%) increase
“Pet parents began to use pet services again, got all of the vet services that their ‘children’ needed and bought all the supplies that they had been putting off during the pandemic,” according to the post.