Insightful Pet Spending Statistics: Americans are Spending More on Pets Than Ever
US spending on pet care and products has seen a substantial rise over the past few decades, both overall and per capita. According to American Pet Products Association, 66% of US households have at least one pet - the highest level reported on record.
To better illustrate the growing size of the US pet market, we’ll be presenting the most important data in this article.
Key Pet Spending Statistics for 2025 - Editor’s Choice
- The value of the pet industry in the US reached $150.6 billion in 2024.
- Average annual expenses for a pet dog amounted to about $1,248 in 2024.
- The number of pets insured in the US rose by 17.1% in 2024.
- Pet eCommerce sales in the US are projected to reach $37.8 billion in 2025.
- The average cost of a veterinary visit in 2024 was $147.
The pet industry is growing rapidly in the US and Americans are spending more on their pets than ever before, as the numbers clearly indicate. Here are some interesting statistics on that subject.
The US pet industry reached $150.6 billion in sales in 2024.
(Statista)
According to data from last year, the amount Americans spend on their pets keeps increasing every year, and the pet food industry makes up the biggest portion of the market, while also growing the fastest. In 2024, the spending on pet food rose to $54 billion.
American households spent an average of $1,733 on their pets in 2024.
(ValuePenguin)
The average spending on dogs was $1,248, while cats are still much cheaper to care for, with an average owner spending $836 last year.
Dogs were the biggest influence driving first-home purchases among 33% of millennials.
(USA Today)
The same report found that 42% of the millenials who still have not purchased a home are likely to be influenced by their dog or a desire to have one, indicating the real scale of dog ownership issues in rented properties, not only from landlords who aren't too keen on pets, but also from the fact that many feel that apartments simply don't offer enough space for dogs and their owners to live comfortably together.
In 2024, online pet food sales amounted to $21.3 billion.
(Pet Food Processing)
This represented a $3.1 billion increase from the year before, while retail sales rose to $39.4 billion, rising by $2.8 billion in a single year.
Some 6% of Americans in 2024 spent more than a $1,000 on gifts for their pets during the holiday season.
(USA Today)
The majority, or 15% of respondents stated that they would spend $51 to $75 on gifts for their pets.
American millennials spent $66 dollars per month on pet food in 2024.
(Statista)
They were closely followed by Gen Z pet owners, who are soon to become the biggest spenders when it comes to their animal companions.
Americans spent $39.1 billion on vet care and product sales in 2024.
(APPA)
The total amount once again increased, rising from $38.3 billion spent in 2023.
Baby Boomers spent an average of 0.96% of their annual income on pets in 2024.
(Statista)
The silent generation came in second with 0.75%, while millennials spent 0.72% of their annual income.
The average cost of a veterinary visit in 2024 was $147.
(American Veterinary Medical Foundation)
The average cost has actually dropped significantly compared to the year before, when it was $190.
52% of pet owners in 2024 were financially prepared for a medical emergency.
(Talker Research)
More pet owners are financially insecure as economic pressure mounted in the previous year, with the percentage of owners prepared for a medical emergency regarding their pet dropping from 82% in 2023.
Pet Insurance Numbers
Pet owners want their furry friends to be happy and healthy, that much is certain. As such, it’s only natural that the pet insurance market has also been on the rise in recent years.
The pet insurance industry in the US is worth $6.06 billion in 2025.
(Grand View Research)
The market is growing at a rapid rate, and is projected to rise at a 20.98% CAGR by 2030, reaching $15.71 billion.
There were more than 5,676,776 pets insured in the US in 2024.
(NAPHIA)
Out of the total amount of pets insured, dogs represent 78.6% while cats are at 21.4%.
The United States saw an overall 17.1% increase in insured pets last year.
The US pet insurance market had more than $3.9 billion in gross written premiums in 2024.
(NAPHIA)
The premium volume increased by double digits again, this time rising by 21.6%.
The average annual insurance premium for accidents and illnesses in 2024 stood at $675.61 for dogs and $383.30 for cats.
(Business Insider)
The data indicates that pet owners primarily seek to cover illness-related costs with their premiums, which is understandable, considering that digestive tract problems, infections, and cancer are relatively common pet health issues.
On the other hand, monthly insurance for accidents only costs an average of $17.01 for dogs and $9.68 for cats in 2024.
92% of pet owners with insurance coverage in 2024 stated that the insurance is worth the cost.
(Experian)
What's more, even the majority of owners without pet insurance, or 53% of them, stated that it was worth the expense.
55% of US pet owners with insurance coverage spent $100 or more on their pets each month in 2024.
(Experian)
This is in stark contrast to those without insurance, of which only 24% spent this much monthly.
Pet Industry Trends
Moving on, let’s take a look at some interesting general trends that have been noticed in the industry in recent years.
Pet eCommerce sales in the US are projected to reach $37.8 billion in 2025.
(Transparency Market Research)
This market is also growing rapidly, with more and more online shoppers buying toys, clothes and other items for their pets, with sales increasing by 36% in just four years.
An estimated 61% of cats and 59% of dogs in the US are considered overweight or obese.
(The Association for Pet Obesity Prevention)
Obesity is a prevalent and highly concerning problem among pets in the country, especially when we compare the latest data to the results of the same survey from just two years before, as now 16% more cats and 20% more dogs are considered obese or overweight by their owners and veterinarians.
American pet spending on dog walking services surpassed $1.7 billion in 2025.
(IBIS World)
Dog walker jobs are on the rise as more and more Americans are opting to pay for dog walking services to ensure their canine companions’ exercise needs are met.
The global pet grooming industry is worth $8.46 billion in 2025.
(TBRC)
The industry is expected to grow at an annualized rate of 7.9% to reach a total market value of $11.47 billion in 2029.
The pet sitting market is worth more than $2.94 billion in 2025.
(Grand View Research)
This market is also performing exceptionally well, and is expected to grow at a 11.8% CAGR to 2030.
Pet Industry Demographics
The majority of Americans own pets, but are there any major differences in terms of age groups?
Millennials are the largest age group of pet owners in the US, with 33% of them owning at least one.
(APPA)
Gen X are the second largest group with pets in their home with 25%, followed by Baby Boomers at 24% and Gen Z at 16%. This represents a shift compared to the previous report where Baby Boomers were still at the second place a year ago.
More than half of millennial pet owners buy their pets gifts at least once a month.
(Zulily)
Younger generations are particularly generous toward their pets, whom they often treat as part of the family, or even better.
In total, 92% of millennials who own pets buy their pets gifts, while 51% do so on a monthly basis. Millennials are also twice as likely to purchase clothes for their pets as baby boomers are.
77% of millennials prefer to buy pet supplies online.
(Zulily)
The recent data tells us that the majority of younger pet owners prefer to shop online for their A to Z pet supplies, rather than opting to do so at a brick-and-mortar pet store.
The most commonly purchased items online include toys, accessories, and pet food. Furthermore, 70% of millennials who shop online choose to buy pet products via subscription.One in 10 American pet owners are putting off having kids or more children because of pet expenses.
One in 10 American pet owners is putting off having a child because of pet expenses.
(LendEDU)
11% of respondents said that the cost of pet care was the reason why they were putting off having their first child or putting off having more children, if they already had a family.
Other commonly missed milestones included delaying marriage and buying or renting a house. Who would’ve thought that pet ownership could have such a profound impact not only on people’s financial health but also on their personal lives, too?
Sources
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