National Pet Industry Exceeds Over $100 Billion in Sales for First Time in Industry History
Pets provide solace during difficult year; pet supplies, food, treats, vet care and products see largest increases with predictions up for 2021-22
STAMFORD, Conn., March 24, 2021 /PRNewswire/ -- The American Pet Products Association (APPA), the leading trade association serving the interests of the pet products industry since 1958, today announced the industry has reached over $100 billion in annual sales, the highest level in industry history. The milestone was released in APPA's 2020 State of the Industry Report during Global Pet Expo Digital Access.
"We have reached a critical milestone, generating $103.6 billion in sales," said Steve King, President and CEO of APPA. "We are bullish for the coming year, projecting growth of 5.8% - well above the historical average of 3 to 4%. This past year presented a host of challenges that resulted in consumers across the country turning to their pets for comfort and companionship. Interestingly, the product trends we are seeing in the pet care community mirror those of consumers – a desire for a healthier lifestyle, increased focus on fitness, turning to supplements for improved well-being, and technology playing a larger role in everyday life."
The State of the Industry Report was revealed at today's Global Pet Expo Digital Access, the pet industry's premier event, during the keynote presented by APPA and the Pet Industry Distributors Association (PIDA). Trends from the report included:
- $22.1 billion was spent on supplies, live animals and OTC meds, a 15.1% increase from 2019.
- $42 billion was spent on pet food and treats, a 9.7% increase.
- $31.4 billion was spent on vet care and product sales, a 7.2% increase.
While $8.1 billion was spent on other services such as grooming, dog walking and boarding, this was a 21.4% decline from the previous year. As quarantines are lifted and consumers venture out the use of these services is expected to rise.
From a retail perspective, every channel showed an increase, especially e-commerce, which is consistent with consumer shopping trends overall:
- Total retail sales increased by 6.7% from 2019 to 2020.
- 47% of pet owners reported they increased the number of times they purchased online.
- Pet specialty and independent retailers experienced solid growth.
- 30% of pet owners spent more on their pet/pet supplies in the past year with only 10% saying they spent less.
For more information about APPA and its annual State of the Industry Report, visit americanpetproducts.org/press_industrytrends.asp.
ABOUT GLOBAL PET EXPO
Global Pet Expo, the pet industry's premier event, is presented by the American Pet Products Association (APPA) and Pet Industry Distributors Association (PIDA). The 2020 Show featured 1,066 exhibitors, 3,541 booths and more than 3,000 new product launches. Additionally, 6,041 pet product buyers from 78 countries attended. The March 24-26, 2021 event is online-only. Global Pet Expo Digital Access is open to independent retailers, distributors, mass-market buyers, media and other qualified professionals. For more information, visit www.globalpetexpo.org and follow us on Facebook, Instagram, LinkedIn, Twitter and YouTube.
ABOUT THE AMERICAN PET PRODUCTS ASSOCIATION
The American Pet Products Association (APPA) is the leading trade association serving the interests of the pet products industry since 1958. APPA membership includes nearly 1,000 pet product manufacturers, their representatives, importers and livestock suppliers representing both large corporations and growing business enterprises. APPA's mission is to promote, develop and advance pet ownership and the pet product industry and to provide the services necessary to help its members prosper. APPA is also proud to grow and support the industry through the following APPA Gives Back initiatives: Pets Add Life (PAL), the Human Animal Bond Research Institute (HABRI), Tony La Russa's Animal Rescue Foundation (ARF) Pets and Vets Program, the Pet Industry Joint Advisory Council (PIJAC) and Pet Care Trust and Pets in the Classroom. Visit www.americanpetproducts.org for more information, and follow us on Facebook, Instagram, LinkedIn, Twitter and YouTube.
Media Contact:
Mackenzie Smith
[email protected]
877.703.3824 x106
SOURCE American Pet Products Association
Related Links
https://www.americanpetproducts.org/
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