Pet Care Market Share

North American Market Statistics

North America industry is set to account for largest revenue share of 36% by 2037. The market growth in the region is expected on account of the increasing number of pet owners in the region. With high incomes, people can afford pets and provide them best healthcare facilities, and nutritious food. According to a recent report published in 2023, around 66% of U.S. households, or about 86.9 million families have pets in their homes.

The market for pet care is growing in the US as the region started offering pet health insurance to the owners which includes accidents and illness. According to the Insurance Information Institute report issued in 2023, around 5.7 million pets were insured in the U.S. at the end of 2023 showing a 17% increase over 2022. The average accident and illness premium for dogs was USD 676 a year or USD 56 a month.

In Canada, the growing demand for superior quality pet food is driving the market growth leading to a notable revenue generation from such products. As per a recent report data issued in 2024, the pet population in the region was 27.9 million in 2020. In the same year, Canadians spent nearly USD 2 billion on premium quality dry dog food and around USD 841 million on dry cat food.

APAC Market Analysis

The Asia Pacific region will also encounter huge growth for the pet care market during the forecast period and will hold the second position owing to the presence of key players in manufacturing facilities in the region. Due to the presence of leading companies, it becomes easy to access premium pet products fueling the economy of the region. For instance, a report issued in 2022 states that pet food production increased by 17.1% from 3.26 million metric tons to 3.81 million metric tons in the Asia-Pacific region in 2021.

China's pet care business has undergone tremendous growth due to growth in the country’s GDP (gross domestic product) per capita and the growing need for companionship. According to the World Population Review report issued in 2024, China is home to over 54.29 million dogs. Popular breeds including Pekingese, Chow Chow, Shar Pei, and Tibetan Mastiff are found there in the pet category.

The market for pet care is growing in Indonesia due to the higher adoption of cats as Indonesia is a predominantly Muslim country that considers cats as sacred animals.  As per the data issued in 2022, 69% population owned cats and 13% owned dogs in 2022. Number of cats is 654.8% higher than that of dogs in 2021.