If you think you’re spending too much money on your pets, you’re not alone.
In fact, according to a recent report from the American Pet Products Association, Americans spent $95.7 billion on their pets in 2019.
APPA’s report of pet spending is based on four categories: pet food and treats, supplies, live animals and over-the-counter medicine, and vet care/product sales.
Americans spent the most money on pet food and treats, capping off at $36.9 billion, per the APPA report. More specifically, most of the funds were spent in the dog and cat food categories.
APPA predicts the amount of funds spent on pet food and treats will continue to increase by 4% in 2020.
Vet care and product sales had the second-highest amount of funds spent, coming in at $29.3 billion.
According to the report, routine veterinary care, surgical procedures and sales of medical products were the most costly for pet owners.
“Scientific research from the Human Animal Bond Research Institute (HABRI) shows that when you invest in your pets’ health, you’re investing in your own health,” said Steve King, CEO of APPA, in a press release. “Improved physical health and reduced feelings of loneliness and social isolation are just a few of the health benefits you’re likely to experience by owning a pet.”
To read the full report, click here.