The statistic shows the expenditures of affluent households, or the so-called highest quintile, in the United States on pets from 2013 to 2018. In 2018, affluent Americans spent some 1,329 U.S. dollars on pets.

Surveyed dog owners in the United States stated that they spent, on average, 442 U.S. dollars on pet food per year in 2020. In comparison, cat-owning respondents claimed to spend an average of 329 U.S. dollars on pet food on an annual basis.

Pet ownership in the United States In 2019/20, dogs and cats were the most popular American household pets. There were approximately 63.4 million dog-owning households and 42.7 million cat-owning households in the United States. Other pets living in U.S. households included freshwater fish, saltwater fish, birds, reptiles, and horses. Due to the onset of the coronavirus pandemic in 2020 and the increased time spent at home, many Americans reported acquiring new pets. In a recent survey carried out in December 2020, 10 percent of respondents in the United States reported acquiring a new pet as a result of the coronavirus pandemic.

Pet expenditures in the United States As Americans increasingly acquired more and more pets over the years, pet industry expenditure in the United States increased at an impressive rate, growing by over 500 percent between 1994 and 2020. Pet food and treats captured the biggest share of pet industry sales, followed by veterinary services and related products. In terms of pet food, the dry dog food segment generated the highest amount of sales, with around 5.3 billion U.S. dollars generated in 2020.

Total pet market sales have steadily increased in the U.S. over past years. Pet food and treats was the highest selling pet market product category in the United States in 2024. Approximately **** billion U.S. dollars of pet food and treats were sold in that year. The vet care and products segment brought in the third highest revenue, with sales amounting to around ** billion U.S. dollars in 2024. American consumer pet expenditure When surveyed, the majority of pet owners in the United States stated that they spend up to *** U.S. dollars on their pets per year. When it comes to affluent households, average annual expenditure on pets increases to ***** U.S. dollars. These costs generally include regular supplies such as food, toys and medical costs. American consumers are also spending in more unique ways; the total spend on gifts for pets for Valentine's Day in the U.S. reached around *** billion U.S. dollars in 2023.

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...

According to Cognitive Market Research, the Global Canine Atopic Dermatitis market size will be XX Billion by 2030, whereas its compound annual growth rate with be XX% from 2024 to 2031.

  Based on Treatment type-wise, the global canine atopic dermatitis market is segmented into Glucocorticoids, Immunosuppressants, Monoclonal Antibodies, and Others. With the biggest market share, monoclonal antibodies are predicted to increase at a compound annual growth rate (CAGR) of XX% throughout the course of the projection period
  Based on the distribution channel, the canine atopic dermatitis treatment market is segmented into veterinary hospitals/clinics, retail, and e-commerce. The retail segment dominated the market in 2023 owing to increased product availability
Based on Administration route, the global canine atopic dermatitis market is segmented into Topical, Oral, and Injectable. The Topical route accounts for the largest market share and is estimated to grow at a CAGR of XX% during the forecast period.
  North America dominates the growth of the canine atopic dermatitis market expected at a CAGR of XX% over the forecast period. This is explained by the growing number of people adopting dogs and the rising cost of animal healthcare per person.
  The region with the quickest growth is Asia-Pacific. There has been a noticeable rise in the adoption of dogs in China.

Current scenario of the canine atopic dermatitis market

Key drivers of the Canine atopic dermatitis market

An increase in dog ownership is driving a market expansion.

Adoption of companion animals has increased, particularly dogs. Animals provide humans with unconditional love and have been shown to be emotionally, psychologically, and physically beneficial to their companions. These factors are the main causes of the increase in pet adoption. In these day of hectic schedules and nuclear families, taking care of a pet animal lessens feelings of loneliness and gives one's daily life a sense of fulfillment and purpose. Approximately 86.9 million US households, 66% own a dog, according to the American Pet Products Association's 2023-2024 National Pet Owners Survey. https://www.americanpetproducts.org/news/News-Public-Relations/pet-industry-market-size-trends-ownership-statistics

In addition, the cost of maintaining dogs' health and going to the vet has gone up as more people own dogs. Since dogs are increasingly being diagnosed with several allergies, adopting a dog entail taking care of it. As a result, there is a considerable increase in the need for atopic dermatitis therapy in dogs. Environmental allergens can cause atopic dermatitis, a common allergy. The market is anticipated to develop as a result of the growing popularity of dogs and the rising cost of pet healthcare.

Increasing global pollution driving market growth 

Due to their ability to permeate the skin, attach to the stratum corneum, and enter the systemic circulation, indoor and outdoor air pollutants have long been of interest in relation to the development of atopic dermatitis in dogs. According to the review paper by the MDPI, "Atopic Dermatitis in Domestic Animals: What Our Current Understanding Is and How This Applies to Clinical Practice," which was released in July 2021, animals can also get atopic dermatitis in a manner similar to that of humans. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8310319/

According to the same source, the current circumstances of consuming processed foods instead of raw diets, increasing exposure to indoor environments and house dust mites, and decreasing exposure to beneficial bacteria may contribute to an increase in the development of clinical signs of atopic dermatitis. This is because pets were previously exposed to an outdoor environment with greater exposure to parasites and bacteria and less exposure to house dust mites. Over time, particulate pollution has increased. The average annual increase in particle pollution was 67.7% between 1998 and 2021. https://aqli.epic.uchicago.edu/wp-content/uploads/2023/08/India-FactSheet-2023_Final.pdf

Because atopic dermatitis is a chronic condition that does not go away on its own, it is essential to manage the dog's environment and provide the right amount of medication. The global increase in polluti...

In 2024, according to a nationwide survey, there were estimated to be around 8.9 million cats in Canadian households. In the same year, there were approximately 8.3 million pet dogs in the country. Annual pet care costs in Canada Taking care of a pet cat cost Canadian pet owners an average of 2,542 Canadian dollars per cat in 2021. Annual expenses, such as professional dental care, food and, pet health insurance, were among the most expensive for this type of pet. The estimated yearly cost of caring for pet canines was over 1,000 Canadian dollars higher than feline-related expenses in 2022. On average, dog food and health insurance for dogs were significantly more expensive than cat food and insurance. Pet stores in Canada Ontario, Canada's largest province by population, was home to over 770 pet and pet supplies stores in 2021. Quebec, which is the largest province by area, had roughly 500 stores. In the same year, there was a total of less than ten pet stores in Yukon and the Northwest Territories, both of which are large, but sparsely populated federal territories of Canada.

Vermont was the leading state in terms of cat ownership, with some ** percent of households owning a pet cat in 2025. In comparison, around ** percent of households in Wisconsin were cat owners that year. Cat ownership in the U.S. There are almost ** million households in the U.S. that own a cat. Cats are the second most popular type of pets, only surpassed by dogs, which are owned by about ** million households. The average accident and illness insurance premium for a cat in the U.S. amounts to approximately *** U.S. dollars annually. The costs of insurance largely depend on the type of cat. The largest cat insurance claims paid in Canada and in the U.S. are made for a sphynx. A total claim amount of approximately ****** U.S. dollars is paid annually to treat various conditions for this breed. In comparison, a total claim amount of slightly under ****** U.S. dollars is paid for domestic short hairs at the age of 4. American pet food companies The global pet food market has shown a growing trajectory for over a decade. The market reached sales of approximately *** billion U.S. dollars in 2022. The U.S. company Freshpet is the fourth fastest-growing pet food company worldwide, with an annual growth rate of about ** percent. The U.S. companies General Mills and Tuffy’s Pet Foods are also among the top ten fastest-growing pet food companies worldwide, with annual growth rates of approximately ** and ** percent, respectively. The German company Bewital petfood GmbH & Co. KG ranks in first place, with an annual growth rate of almost 100 percent. The leading pet food company in the U.S. is Mars Petcare Inc., with **** billion U.S. dollars in revenue. Nestlé Purina PetCare follows closely in second place with just under **** billion U.S. dollars in revenue.