Pet Products & Services Market 2022 PLUS PowerPoint Presentation

2021 Was a Big-Spending Year

• Like many consumer/retail verticals, total spending in the pet products and services market increased by double digits or 19.3% to a total of $123.6 billion, according to the American Pet Products Association (APPA).
• The above-average spending was attributable to lower inflation compared to late 2022 and the residual effect of more people adding pets to their households during the pandemic; however, inflation has started to impact pet spending (See slide #4).
• Pet food and treats account for the largest share at 40.5% and totaling $50.0 billion, a 19.0% increase from 2020. Vet care and products were second with a 28.8% share or $34.3 billion, an 8.2% YOY increase.

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