This statistic shows the average lifetime cost on pets in Denmark in 2017, by type of pet. With an average lifetime cost of roughly 119 thousand Danish kroner, keeping pet dogs was most expensive. The lifetime cost of keeping pet cats was not as expensive and amounted to approximately 75 thousand Danish kroner on average.

Owning a dog cost an estimated 1,875 British pounds a year in the UK as of December 2022. Two weeks of boarding was estimated to cost 450 British pounds per year, making up the largest share of total dog expenditure.

Expenditure on pets

The annual expenditure on pets in the UK has generally been increasing since 2005. As of 2021, expenditure exceeded 9.66 billion British pounds, marking an increase of about 175 percent during this time period. Consumers between 30 and 49 years of age spend the most weekly compared to other age groups, spending an average of 8.5 British pounds per week on pet food and other pet products.

Rise in dog registrations in the UK

Dog population in the UK surged in 2021. Since 2010, the dog population has been at about 8.6 million, on average. In 2021, however, the population grew by over 40 percent, reaching about 12 million dogs. The top dog breeds in the UK are Labrador Retrievers, French Bulldogs, and Cocker Spaniels according to dog registrations that year.

This statistic shows the medical costs and cost of coverage for an 11-year old dog in New York, by insurer. The Healthy Paws plan was the only one which cost the owner less in the end, because the insurer paid out 990 U.S. dollars more than the plan cost the owner.

Graph and download economic data for Unit Labor Costs for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States (IPUHN453910U101000000) from 1988 to 2023 about pets, unit labor cost, supplies, NAICS, retail trade, sales, retail, and USA.

In the fourth quarter of 2023, the market for r-PET in the USA remained stable due to a consistent supply and reasonable demand. Plentiful stocks in beverage and packaging sectors led to limited trading, maintaining stable prices. The pricing trend, seasonality, and correlation of r-PET stayed steady, with no notable percentage fluctuations during the quarter. The price of r-PET in USA for Q4 2023 reached 1494 USD/MT in December.

Explore IMARC’s newly published report, titled “R-PET Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of r-PET pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In the 52 weeks ending on June 18, 2023, the pet food product with the most significant price per unit increase was semi/moist cat food, with about 66 percent. The two products with the lowest cost per unit increase were dog and cat treats.

Graph and download economic data for Producer Price Index by Industry: Dog and Cat Food Manufacturing (PCU311111311111) from Dec 1985 to Oct 2024 about pets, food, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

A tabular dataset providing tick survey results around the Jackson Wyoming area between the dates of Oct 25 2021 and Nov 6 2021. The data compares a dog surveyor to a human surveyor in both transect and survey plots, recording detection events, total number of tick larvae found, and how long the survey took, and the cost of the survey. A second tabular dataset outlining the associated costs for each survey.

Idaho had the highest dog ownership rate in the United States (U.S.), with 58 percent of households owning a dog in 2024. In Tennessee, around 47 percent of households were dog owners in that year. Dog food industry in the U.S. The sales value of dog food in the U.S. amounts to a total of approximately 10.5 billion U.S. dollars annually, excluding treats. Among the various dog food categories, dry dog food makes up the largest share of sales, with just under seven billion U.S. dollars. The leading dog biscuit, treat, and beverage vendor in the U.S. in terms of sales is Big Heart Pet Brands, which generates sales of over a billion U.S. dollars annually. The sales of Big Heart Pet Brands are more than twice as much as those of its biggest competitor, Nestlé Purina PetCare. The leading frozen and refrigerated dog food vendors in the U.S. is Freshpet. The company dominates the market by a considerable margin. Dog ownership in the U.S. Nationwide, approximately 65 million U.S. households own at least one dog. Dogs are the most widely owned type of pets among American households. Within the last 12 years, the number of dog-owning households grew by more than 40 percent. In general, there has been an increase in the household penetration rate of pet ownership in the U.S. during the last 35 years. In 2023, about two-thirds of households owned at least one pet. Since the state of Idaho has the highest percentage share of dog owners among U.S. states, it is unsurprising that its state capitol, the city of Boise, has the largest number of dog parks per 100,000 residents in the country. There are 7.5 off-leash dog parks per 100,000 residents in Boise, Idaho.

According to Cognitive Market Research, the global Pet Insurance market size will be USD 12542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 15.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 5016.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3762.6 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2884.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 627.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031.
The Accident and Illness Policy Coverage category is the fastest growing segment of the Pet Insurance industry

Market Dynamics of Pet Insurance Market

Key Drivers for Pet Insurance Market

Increasing Pet Ownership and Humanization of Pets to Boost Market Growth

More households globally are adopting pets, leading to a growing demand for pet insurance. As pets become cherished members of families, the willingness to invest in their care increases. According to NAPHIA's?2024 State of the Industry Report, the U.S. pet insurance market reached a total premium volume of $3.9 billion in 2023. By the end of 2023, nearly 5.7 million pets in the U.S. were insured, marking a 17% increase from 2022. The average annual premium for accident and illness coverage was $676 for dogs ($56 per month) and $383 for cats ($32 per month). The majority of insured pets were located in California, New York, and Florida, with dogs comprising 80% of insured pets, compared to 20% for cats. The growing trend of treating pets as family members is driving owners to seek better healthcare and insurance options, with many willing to invest in advanced treatments, surgeries, and long-term care, which are made more affordable through insurance coverage.

Rising Veterinary Costs to Drive Market Growth

Modern veterinary medicine offers a variety of advanced treatments, including surgeries and cancer therapies, which can be costly. According to the U.S. Bureau of Labor Statistics, the cost of veterinary services increased by 7.6% between May 2023 and May 2024, following a 10% rise in 2022, the largest increase in two decades. With the rising global costs of routine and emergency veterinary care, pet insurance provides a financial safety net, allowing owners to afford these treatments while minimizing high out-of-pocket expenses. This makes pet insurance an appealing option for many pet owners.

Restraint Factor for the Pet Insurance Market

High Cost of Pet Insurance Services Will Limit Market Growth

One of the most common reasons for low uptake is the high cost of pet insurance premiums. For some pet owners, particularly those with multiple pets, the cost of insuring their animals can be prohibitively expensive, discouraging them from purchasing a policy. In many developing regions, pet insurance is seen as a luxury product. Due to lower disposable incomes, pet owners in these areas may prioritize basic pet care needs over the additional insurance cost, limiting the market’s potential in such areas. The pet insurance market lacks a standardized structure for policy coverage. Policies vary widely between providers in terms of what is covered, reimbursement rates, and claim limits. This inconsistency makes it difficult for consumers to compare policies and choose the most suitable option, which can discourage adoption.

Impact of Covid-19 on the Pet Insurance Market

During the pandemic, lockdowns and remote work led to a surge in pet adoptions, as more people sought companionship and emotional support. This rise in pet ownership contributed to an increased demand for pet-related services, including pet insurance. Many new pet owners viewed insurance as a way to ensure their pets' health and well-being during uncertain times. With social distancing measures in place...

Sixty six percent of households in the United States owned one or more pets in 2023. Household penetration rates for pet-ownership have increased by 10 percent since the beginning of the survey period in 1988.

What kinds of pets do Americans prefer?

There were estimated to be around 65 million dog-owning households in the United States according to a recent survey, making dogs the most popular kind of pets in American homes. Cats and freshwater fish ranked in second and third places, respectively. Horses and saltwater fish were the least popular types of animals to keep, with around 2.2 million households owning each type of pet.

How much do Americans spend on their pets?

Total pet industry expenditure reached around 136.8 billion U.S. dollars in 2022, an increase on the previous year. As well as regular expenses such as food and vet costs, households were estimated spend around 1.7 billion U.S. dollars on Valentine's Day gifts for their pets in 2023.

The costs are estimated over a 10-year time horizon.

Freeze-dried pet food was the most expensive type of specialized pet food in the United States. One pound of freeze-dried pet food would set consumers back over 18.7 U.S. dollars in 2023. Frozen pet food ranked as the second most expensive category.

For 2024, the cheapest common dog breed to insure in the United States were dachshunds, with an average monthly cost of 21 U.S. dollars for both accident and illness cover. By contrast, the average monthly cost for a French bulldog at this time amounted to 53 U.S. dollars.

In 2022, the annual cost of caring for a dog in Canada amounted to 3.999 Canadian dollars. Canadian dog owners’ highest expenses included food, pet insurance, and professional dental care, respectively.

Cat costs

While owning a cat or a dog comes with many of the same expenses, such as dental care, exams with vaccines, and food, the total yearly cost of caring for a pet cat was significantly lower. Annual dog food expenses, for example, were typically twice as high as annual cat food costs. In 2021, Canadian households spent about 32 percent less per cat.

Pet food types

There are various types dog and cat food on the Canadian market, including canned food and treats. In 2020, dry dog food sales amounted to roughly two billion Canadian dollars, making it the leading type of food for canines. For cats, the leading type of food was also dry cat food.

Over the five years to 2024, increases in both competition and public disapproval have threatened the Dog and Pet Breeders industry. This industry includes various operations, from small independent home breeders to large USDA-certified breeding facilities. However, the industry also comprises unlicensed puppy mills, often using inhumane practices to reduce costs and maximize profit. Recent attention to these operations has hurt the overall industry's reputation. In 2017, the "Adopt, Don't Shop" campaign emphasized the ethical benefits of getting pets from shelters and adoption groups rather than pet stores. This campaign has led many pet stores to no longer work with breeders and instead host adoption events with local shelters. Through the end of 2024, industry revenue is expected to grow at an annualized rate of 2.6% to $3.1 billion, including an estimated 0.9% decline in 2024.

Graph and download economic data for Producer Price Index by Commodity: Processed Foods and Feeds: Dog and Cat Food (WPU02940202) from Dec 1985 to Oct 2024 about pets, processed, food, commodities, PPI, inflation, price index, indexes, price, and USA.

Get comprehensive insights into the Polyethylene Terephthalate market, with a focused analysis of the Polyethylene Terephthalate price trend across Asia, Europe, North America, Latin America, and the Middle East & Africa.

In the United States, more than half of the population reported owning a pet in 2011. This number has been quite steady since then. Today there are more than 90 million cats in the United States, while the number of dogs is just below the 90 million-mark. Freshwater fish are the most common pet with almost 140 million nationwide in 2018, followed by the aforementioned cats and dogs.   Pet expenses    When it comes to expenses, fish are generally considered low maintenance compared to other pets. Dogs especially require high expense, particularly for kennel boarding while their owners are away. However, the highest costs for dog owners are due to surgical vet visits, reported at almost double the expense for cats in 2019. Lower life expectancy could be a factor - around 11 years for a medium-sized dog, compared with 12 to 15 years for cats.  
  Pet food  

Food is currently the largest expense for cat owners, and the second highest for dogs, not even including treats. Despite the convenience of buying pet food online, or while already grocery shopping in a supermarket, food store, or wholesale club, the highest share of pet food sales comes from pet specialty chains. With many owners are willing to make the extra trip for their pets, chain shops Pet Smart and PetCo make up almost half the market for pet companies in the United States.