Man and dog on leash walking in hard-ware store.
It takes more than stocking a few pet products to compete in today’s omnimarket pet arena: Health and wellness services must also be part of the equation, both in-store and online. | Erickson Stock | Shutterstock.com
Packaged Facts estimates that overall U.S. sales of pet products increased by 9% to US$96 billion in 2022, on top of a 14% surge in pet product spending in 2021, in the wake of COVID-19 pandemic-driven changes in work and home lifestyles. Inflation plays a significant role in current sales growth.
Excluding sales through veterinarians, Packaged Facts projects that e-commerce sales of pet products will approach US$31 billion in 2022, or 36% of the total, up from 16% of retail pet product sales in 2017. These internet sales are projected to reach US$50 billion, or 45% of the total, by 2026. (Note that Packaged Facts defines e-commerce sales as including digital sales of brick-and-mortar-based retailers.)
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