The American Pet Products Association has kept records of US pet spending since 1996. Ever since then the industry has seen a steady growth of 4 to 6 percent per year.
In 2013, Americans spent $55.7 billion on their pets, and the number is expected to rise to $60 billion in 2014. If the trend stays as strong as during the past 18 years, we will see some 92 million American pet owners by 2018 that will spend at least $70 billion on pets, pet card, and pet products.
The biggest chunk of money in 2013 went to food. $21.6 billion fed our animal friends, and a large amount of it paid for healthier and more expensive food than in previous years.
Other highlights include $14.4 billion for veterinary care and $13.1 billion for supplies and over-the-counter medicines.