STAMFORD, CONN. – The American Pet Products Association (APPA) released its 2021 State of the Industry data on April 19, revealing that the pet industry hit its all-time high in sales at $123.6 billion. dollars last year. According to the data, $50 billion was spent on pet food, accounting for approximately 40% of all industry sales.
This year of record sales follows another record set in 2020, when pet sales topped $100 billion for the first time. For its 2021 projections, APPA expects 2020 sales growth to continue, estimating a 6% increase and bringing pet sales to $109.6 billion by the end of 2020. 2021. Actual data eclipses APPA projections with a 13.5% increase in pet sales in 2021.
“The numbers don’t lie: the pet industry has proven to be incredibly strong and resilient with a two-year record,” said Anne Ferrante, senior vice president of member relations and business development at the ‘APPA.
APPA’s 2021 data revealed strong increases across all categories of the pet industry, with pet food and treats leading the chart at $50 billion, an increase of 13, 6% over 2020. Pet supplies, live animals and over-the-counter (OTC) medicines had the largest year-on-year sales increase of 17.8% with total sales of $29.8 billion. Sales of veterinary care and products increased 8.9% with total sales of $34.3 billion, reaching the second highest sales by segment in 2021. Pet services, including grooming , dog walking and boarding, reached $9.5 billion in sales, a 17.3% increase over 2020 .
For 2021, pet food held the largest share of sales at 40.5%, while veterinary care and product sales held the second largest share at 27.8%. Pet supplies, live animals, and over-the-counter medications accounted for approximately 24.1% of sales, and pet services accounted for 7.7% of total pet industry sales.
“We expect continued growth as we look to the remainder of 2022, although we expect it may be at a more moderate pace given the impact of volatile factors such as inflation, on-chain issues procurement and global relationships,” said Ferrante.
Stay up to date on the latest pet food processing industry headlines on our News page.