October 2, 2023

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Pet industry contributes billions to US economy

Pet industry contributes billions to US economy

CORAL GABLES, FLA. — Climbing pet ownership and escalating pet products demand from customers is proving to substantially advantage the US economic climate. According to Pet Advocacy Network’s a short while ago launched “The Economics of the US Pet Food and Pet Supply Industry” research, the pet marketplace contributed $260.5 billion, right and indirectly, to the US economy in 2021. And this contribution is only envisioned to keep on.  

Sponsored by the Pet Advocacy Network, American Pet Products and solutions Affiliation (APPA), Pet Foods Institute (PFI), Pet Business Distributors Association (PIDA) and Globe Pet Association (WPA), the examine facts the sizeable effect the pet foods and supplies market experienced on the US economy in 2021.

“This sector collaborative study exhibits the ongoing expansion and value of the pet sector,” explained Vic Mason, president of the WPA.


Over-all economic influence

In 2021, extra than half (70{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82}) of US households owned at the very least 1 pet, amassing to 84.9 million pet-proudly owning households, according to APPA. Fifty-four {530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} of households owned a pet dog and 35{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned a cat. Completely, Us citizens owned 186 million canine and cats full. 9 p.c of households owned freshwater fish, 8{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned birds, 5{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned smaller mammals, 4{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned reptiles and 2{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned saltwater fish.

APPA also detailed that 23 million homes bought a new pet concerning the spring of 2019 and summer season of 2022, subsequently furthering pet merchandise investing.

In accordance to the analyze, the over-all pet industry supports approximately 2.78 million employment through the United States, with about 1.09 million people specifically performing in a pet business enterprise and 1.68 million folks serving the industry indirectly.

Pet food and supplies spending breakdown

Whole financial output elevated 18{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} from $221 billion in 2015 to $260.5 billion in 2021. The market contributed $23.4 billion in taxes at the community, condition and federal stages created by buyer expenditures. In 2021, the sector contributed $174.67 billion in once-a-year gross domestic product (GDP) to the economic climate.

US households right spent $93.95 billion in 2021 on goods for their pets, with pet meals and treats accounting for the largest bills for pet parents at $50 billion, according to the APPA’s 2021 State of the Market details. Households invested $29.8 billion on pet provides, are living animals and over-the-counter drugs $34.3 billion on veterinary care and item income and $9.5 billion on pet providers.


State breakdowns

The states that expended the most on their pets in 2021 had been California, Texas and Florida.

According to Pet Advocacy Community, in 2021, there were being 13.1 million households in California, of which 57{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at the very least 1 pet. Extra than 40{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at least a single puppy and about 23{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at minimum 1 cat. California pet parents spent $10.02 billion on their pets in 2021, creating an believed tax profits of $1.61 billion.

In 2021, there had been 9.9 million households in Texas, of which about 50 percent (58{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82}) owned at least just one pet. Extra than 43{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at minimum a single puppy and 21{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at minimum a person cat. Texas pet proprietors expended $7.71 billion on their companions in 2021, making an estimated tax profits of $1.01 billion.

There have been 7.93 million homes in Florida in 2021, of which extra than 54{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at the very least one particular pet. Forty per cent owned at the very least one puppy and 24{530e870c018efe4faeaf1650f5521f73bbd950ecc9f753be09e2bfdaa8245e82} owned at the very least just one cat. Florida pet mom and dad invested $5.73 billion on their animals in 2021, building approximately $897.2 million in tax revenue.

With US pet ownership predicted to go on to rise in the coming years, the pet market is also predicted to further more gain the economic system as pet mother and father enhance shelling out on their pets.

“Science proves that animal companionship positive aspects the bodily and mental effectively-staying of the American inhabitants, and this information demonstrates that pet ownership also supports a nutritious US economic climate,” reported Mike Bober, president and main executive officer of Pet Advocacy Community. “This is more evidence for elected officials that it is crucial to prioritize pet-welcoming policies.”

Browse more news from associations and businesses in the pet food sector.