As in years past, pet food and treat sales represented the highest US pet industry spend category in 2022, totaling $58.1 billion, or 42.5% of total industry sales. This represents solid 16.2% growth over 2021 spending, and the category shows no signs of slowing.
The robust market for pet nutrition products was evidenced at Global Pet Expo 2023 — an annual pet industry event co-hosted by the American Pet Products Association (APPA) and the Pet Industry Distributors Association (PIDA) — where the industry gathered to conduct business, share insights and learn. At the show, APPA showcased two of its latest market research reports: its 2022 State of the Industry data and findings from its 2023-2024 National Pet Owners Survey.
APPA’s State of the Industry data highlights pet spending in four key categories of the industry — pet food and treats; veterinary care and product sales; supplies, live animals and OTC meds; and other services — and its National Pet Owners Survey details pet ownership trends, generational preferences and sentiments, and economic factors impacting pet product purchasing.
In this episode of More Than Kibble, Pet Food Processing Editor Kimberlie Clyma speaks with two APPA leaders — Pete Scott, president and chief executive officer, and Anne Ferrante, senior vice president — about the association’s latest market research, as well as trends seen at Global Pet Expo 2023 that are expected to underpin the industry’s future.
“The 39% of pet owners who said they spent more on their pet in the last year jumped to nearly 50% among Millennials and Gen Z pet owners,” Ferrante shared. “With Millennials remaining the largest US demographic cohort and also the largest cohort of pet owners, and with Gen Z pet ownership continuing to rise, we really anticipate consistent levels of ownership and spending.”
Listen now in the embedded player above, or wherever you listen to podcasts.
(0:40) Introducing Pete Scott and Anne Ferrante
(1:38) What is APPA?
(2:20) Looking back on Global Pet Expo 2023
(4:21) State of the Industry data
(5:33) Pet industry forecast for 2023
(8:09) Shifts in pet ownership and consumer preferences
(11:09) Generational differences in pet ownership
(12:02) Post-COVID pet spending habits
(13:08) Who is spending more on their pets?
(14:00) Post-COVID channel preferences
(15:22) Topline pet product purchasing trends
(15:59) Making room for the roost
(17:23) Closing notes from Pete Scott
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