1. United States
The estimated size of the U.S. pet market in 2024 is $80.69 billion, and it is expected to reach $103.27 billion by 2029. It is predicted to grow at a compound annual growth rate of 5.06% from 2024 to 2029. 66% of American households own at least one pet, and American pet owners spend an average of $1,332 per year on pet expenses.
According to a survey, it is estimated that 65.1 million households in the United States own at least one dog, making dogs the most widely owned pet type in the United States; cats and freshwater fish rank second and third, with approximately 46.5 million and 11.1 million households owning such pets, respectively.
In addition to food, local pet owners in the United States also spend a relatively large amount of money on medical care, daily necessities, and cleaning and beauty.
Millennials (born between 1981 and 1996) account for the largest proportion of pet owners in the United States, about 33%. They regard pets as the main members of the family and their spiritual companions, so they are willing to spend money on them to improve their living conditions. Next is Generation X (born between 1965 and 1980), accounting for 25%, and the baby boomers (born between 1946 and 1964) ranked third, accounting for about 24% of the pet owner population.
As people's consumption habits change, online purchase of pet supplies has become a consumption trend in this market; the convenience of online shopping, free delivery and product diversity are important factors that attract people to choose online shopping. Sellers can market products according to consumer preferences, such as launching free delivery services, or listing a variety of products for consumers to choose.
2. Europe
There are many families with pets and are willing to spend money on pets. The total size of the European pet market is about 55 billion euros, which is about 60.2 billion US dollars, with an annual compound growth rate of about 3.5%. In the EU, more than 91 million households have pets, accounting for 46% of the local households. The annual turnover of pet-related products and services in Europe is estimated to be 24.5 billion euros. This includes pet accessories products and services, such as pet grooming and veterinary medicine.
In France, pet owners spend an average of 1,224 euros on their pets each year. Food expenses account for the largest share of the budget, followed by hygiene and beauty. The average pet-owning household in the UK spends £6.70 per week on its pet. The average expenditure on pet products in Danish households is about DKK 1,436.
Cats are the most common type of pet in Europe, with Russia, Germany and France ranking among the top in the region in terms of the number of pet cats. Although Europe and North America are the two regions with the largest share of the global pet market, there are some differences in the types of pets between the two regions. European countries are more fond of keeping cats. For pet product sellers who want to expand into the European market, starting from the relevant needs of cats and gradually expanding to a more comprehensive pet market may be a good development strategy. In addition, we must continue to pay attention to consumers' consumption trends and purchasing tendencies, and give products good reputation and brand awareness to win in a fierce market competition environment.
3. Southeast Asia
The Southeast Asian pet market is developing rapidly and is expected to reach US$25 billion by 2030. The main force of pet consumption in Southeast Asia is the young group aged between 26 and 35, with a pet ownership rate of about 50%.
The survey shows that 41% of Southeast Asians keep pets to relieve anxiety, and 36% for companionship and security. As people's emotional needs for pets gradually increase, these trends indicate that pets play an increasingly important role in people's lives and are driving pet products and services towards a more humane direction.
Size of pet markets in Southeast Asian countries
Indonesia: The size of Indonesia's pet market is approximately US$2.2984 billion in 2023, and is expected to exceed US$5.8832 billion in 2033, with a compound annual growth rate of approximately 9.5%.
Malaysia: The pet market size is expected to grow to US$450 million by 2024, with a compound annual growth rate of approximately 5.8%.
Philippines: The value of the Philippine pet industry in 2023 is approximately US$108 million, with a peak compound annual growth rate of 19.6%.
Singapore: The size of Singapore's pet market in 2023 is approximately US$259 million, with a compound annual growth rate of 4.6%.
Thailand: The pet market size in 2023 is approximately 49.7 billion baht, and is expected to grow to 66.748 billion baht in 2026, with an estimated annual compound growth rate of 8.4%.
Vietnam: The compound annual growth rate of Vietnam's pet market is 11% between 2021 and 2026, and it is expected to grow to US$500 million by 2026.
Online shopping has become the main way for more and more pet owners in Southeast Asia to buy pet products. Convenient and fast shopping experience, rich and diverse product selection, and transparent and intuitive user reviews have made online shopping very popular.
After the impact of the epidemic, the safety and convenience of online shopping have become more prominent. Data shows that e-commerce platforms account for 36% of the purchase channels of pet products in Singapore, and 18% of people prefer to buy products through pet product DTC websites.
