Carly strife barkbox9/14/2023 That is a lot of pets! So, it’s no surprise that the pet industry has been experiencing explosive growth.Īdditionally, Millennials and Gen Xers are adopting more pets than previous generations, and as a result, online purchases for pet products and services have also significantly increased. This study also tells us that about 67% of American households own a pet, which translates to 84.9 million homes overall. We spent a total of $95.7 billion on our pets in 2019, and it’s estimated that we’ll spend $99 billion in 2020, according to The American Pet Products Association.
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