Due to economic turmoil for many consumers, businesses and countries worldwide, the days of heady growth for the global pet care market seem over: Through 2031, Euromonitor International projects compound annual growth rates (CAGR) of 1.6% to 5%, depending on the region. That highest CAGR is for Middle East and Africa, which is still a very small market for pet care.
While this may seem discouraging, it's helpful to keep in mind that, compared to other industries and even economies in the current environment, growth of nearly 2% to 4% — more established markets like Asia Pacific and Latin America are both expected to reach 4% — is nothing to sneeze at. Rather, those rates are likely the envy of many other consumer goods categories.
In other words, pet care and its largest segment, pet food, continue to manifest that positive element long attributed to them: resilience. This quality has shown itself repeatedly over the past 15-plus years, including during the Great Recession, the COVID-19 pandemic and more recent down times.
Consider the North American pet care market, for which Euromonitor projects a 3% CAGR through 2031. That's slightly more optimistic than the American Pet Products Association's (APPA) prediction for pet care in the U.S. in 2026: 4.4%, but with inflation accounting for 2% of that. Still, APPA projects the market to end the year at US$165 billion, up from US$158 billion in 2025. Last year, U.S. pet food sales totaled US$68.3 billion; even just a 2% increase would raise that to nearly US$70 billion by the end of 2026.
Europe overall accounts for 30% of the US$225 billion in global pet care sales, or about US$67.5 billion, according to Euromonitor. Its 2025 data put the Asia Pacific pet care market at US$30 billion.
And though some estimates say Latin American pet care will reach only US$18.8 billion by 2033, other experts claim sales in that region are chronically underestimated due to lack of resources to properly track all channels and outlets. For example, Abempet, the Brazil pet products association, reported 2025 pet food sales of 77 billion Brazilian reis (US$15.2 billion), while Triplethree International puts the Mexican pet food market at US$8.25 billion.
Sales from US$8 billion to US$70 billion for pet food, or US$30 billion to US$165 billion for pet care, are substantial. And they’re projected to keep going up, as pet owners worldwide increasingly prioritize their pets’ care and feeding in their regular spending plans.
