The pet care industry is thriving, with spending on pet products and services reaching unprecedented levels in recent years.
As pet ownership continues to grow across the globe, so too does the demand for quality pet care.
From grooming and veterinary services to pet food and accessories, this sector shows no signs of slowing down.
Understanding the key statistics behind this booming industry can provide valuable insights into consumer behavior, market trends, and business opportunities.
In this article, we’ll break down the latest pet care industry statistics to offer a clearer picture of where the market stands today and where it’s heading in the future.
1. Global Pet Services Market Expected to Grow at 9.21% CAGR from 2023 to 2030
The global pet services market was valued at USD 24.92 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 9.21% through 2030. Key drivers of this growth include the increasing number of companion animals, the growing trend of pet humanization, and rising pet expenditures.
2. Dogs Dominate the Global Pet Care Market with 80% Revenue Share
In 2022, the dog segment accounted for approximately 80% of the global pet care market’s revenue. The significant demand for dog-related services and products, driven by higher pet ownership and premium pet products, is expected to continue propelling this market segment.
3. Pet Grooming Segment to See Fastest Growth at Over 9% CAGR
The pet grooming segment is forecast to grow at a robust CAGR of more than 9% from 2023 to 2030. The rise in demand for premium grooming services, coupled with strategic initiatives from major companies like Pets at Home, Inc., is fueling this expansion.
4. North America Leads the Global Pet Care Market with 35% Revenue Share
North America captured over 35% of the global pet care market revenue in 2022. The region’s dominance is largely due to the presence of prominent service providers and a strong culture of pet ownership, with U.S. pet owners spending approximately USD 103 billion on their pets in 2020.
5. Pet Boarding Services Account for Over 25% of Global Revenue
Pet boarding services led the market with more than 25% of the revenue share in 2022. The rise of pet daycare and overnight boarding services has been largely driven by the post-COVID return-to-work trend among pet parents.
6. The U.S. Pet Care Market Projected to Reach USD 116.14 Billion by 2032
The U.S. pet care market is expected to grow significantly, reaching USD 116.14 billion by 2032. This surge is attributed to the continued rise in pet ownership and the increasing demand for premium pet care products and services.
7. Increasing Spending on Pet Care Products to Drive Market Growth
Rising consumer spending on pet-related products, such as food, healthcare, and grooming services, is expected to support market growth. As pet ownership becomes more prevalent, demand for premium products and services continues to drive innovation within the industry.
8. Obesity in Pets Driving Demand for Nutritional Food Products
Obesity rates among pets, particularly dogs and cats, are leading to a surge in demand for healthier, nutritional food options. This trend is expected to provide new opportunities for growth in the pet food sector as pet owners increasingly prioritize their pets’ health.
9. Key Pet Care Industry Players Expanding Their Service Offerings
Major players like Petco, Rover, and Walmart are broadening their service offerings through strategic partnerships and acquisitions. These expansions enable companies to better serve a growing base of pet owners, enhancing their market share.
10. Veterinary Care Segment to Experience Rapid Growth
The veterinary care segment is expected to grow rapidly due to the rising demand for health-related services for pets. Increased awareness of pet health issues and higher spending on veterinary care are contributing to this sector’s growth.
11. U.S. Pet Owners Projected to Spend $150.6 Billion in 2024
Pet care spending in the U.S. is projected to reach USD 150.6 billion in 2024. This includes spending on pet food, grooming, healthcare, and other services, further solidifying the importance of pets in the lives of Americans.
12. Offline Pet Stores Maintain Dominant Market Share
The offline segment, particularly pet stores and supermarkets, remains the largest market segment. The availability of a wide range of pet products in physical stores continues to drive sales, with consumers appreciating the convenience of in-person shopping.
The Growing Pet Care Industry and the Importance of Digital Presence
The pet care industry is continuing to evolve, with more people seeking high-quality services for their pets and a growing emphasis on personalized care. As demand for various pet services and products increases, standing out in a competitive market becomes essential. Local SEO is an important tool that pet care providers can use to ensure their business is easily found by potential customers in their area.
At Galactic Turtle, we understand the importance of an effective local SEO strategy for pet care providers.
We offer a detailed pet care local SEO guide for those looking to manage their own in-house local SEO, as well as comprehensive local SEO services for pet care businesses.
If you’re ready to boost your online visibility and grow your customer base, reach out to us today.
