Gift Shop Pets - Summer 2019 - 32

INDUSTRY NEWS
American Pet Products Association
releases spending figures
During Global Pet Expo this year, the American Pet
Product Association (APPA)
released its annual pet
industry spending figures - announcing a recordbreaking
$72.56 billion in pet spending for 2018, up from
$69.51 billion in 2017. Estimated spending for this year is
$75.38 billion; a 3.9% growth. Also released at the show
were initial findings from APPA's 2019-2020 National
Pet Owners Survey. The survey revealed that 67% of
U.S. households own at least one pet; an estimated 84.9
million homes. Millennials represent the largest segment
of pet owners for all pet types owned, especially bird
owners, small animal owners, and saltwater fish owners.
And for the first time, the survey assessed members of the
emerging Generation Z (Gen Z).
APPA's annual industry figures cover pet spending
in the market categories of food, supplies/over-thecounter
(OTC) medications, veterinary care, live animal
purchases and other services.
" Millennials continue to be the largest pet-owning
demographic and this shows in the data, " said Bob
Vetere, president and CEO of APPA. " We know this
Pet Industry Spending Breakdown:
Category
2017 Actual
($ Billion)
Food
Supplies/ OTC
Med
29.07
15.11
Veterinary Care 17.07
Live Animal
Purchases
Other Services
Total
2.1
6.16
69.51
generation is willing to pay more for quality products
and services to improve the health and well-being of
their pets. Today more than ever, pet owners view
their pets as irreplaceable members of their families
and lives, and it's thanks to this that we continue
to see such incredible growth within the pet care
community. "
The live animal purchases category experienced
a 4.3 percent decline compared to the year before.
Contributing $2.01 billion in 2018, this category makes up
the smallest area of total pet industry spend. Acquisition
of dogs varies by generation with more millennials
turning to shelters and rescues, while baby boomers and
Gen Xers look more to breeders. However, millennials
purchase pets at an independent pet store three times
more often than Boomers or Gen Xers.
" People across generations are keeping their pets
longer, thus reducing the acquisition of new pets, " said
Vetere. " However, with spending on our pets higher
than ever before, it's clear that giving pets the best
lives possible is still a top priority for pet owners, and
they're willing to spend more on the quality products
and services they consume if it means more quality time
with their beloved companions. "
2018 Actual
($ Billion)
30.32
16.01
18.11
2.01
6.11
72.56
% Growth
(2018 vs 2017)
4.3
6.0
6.1
-4.3
-0.8
4.4
2019 Estimate
($ Billion)
31.68
16.44
18.98
1.97
6.31
75.38
% Growth
(2019 vs 2018)
4.5
2.7
4.8
-2.0
3.3
3.9
Source: American Pet Products Association
32
SUMMER 2019

Gift Shop Pets - Summer 2019

Table of Contents for the Digital Edition of Gift Shop Pets - Summer 2019

Gift Shop Pets - Summer 2019 - 1
Gift Shop Pets - Summer 2019 - 2
Gift Shop Pets - Summer 2019 - 3
Gift Shop Pets - Summer 2019 - 4
Gift Shop Pets - Summer 2019 - 5
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Gift Shop Pets - Summer 2019 - 34
Gift Shop Pets - Summer 2019 - 35
Gift Shop Pets - Summer 2019 - 36
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https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/fall-2022
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https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/theguide-2022
https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/winter-2022
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https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/summer-2021
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https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/theguide-2021
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https://www.nxtbook.com/greatamericanmediaservices/GiftShop-Plus/spring-2019
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