We love our pets, and have the bills to prove it.
The American Pet Products Association keeps track of where were spend our money. For 2019, it estimated that $75.38 billion was spent on our pets in the U.S.
Estimated Breakdown:
Food $31.68 billion
Supplies/OTC Medicine $16.44 billion
Vet Care $18.98 billion
Live animal purchases $1.97 billion
Other Services $6.31 billion
When healthy, the average annual cost of owning a dog is $1843. In the US this year pet owners will spend more than $16 billion on vet care. Mitch Felderhoff is the president and 4th generation co-owner of the all-natural pet food company, Muenster Milling. “Dogs and cats can’t talk and so they’re completely at the mercy of what we give them. When people see their animal isn’t doing well, they’ll do anything they can to make it better.”
Pet healthcare costs are escalating at a faster rate than human health care, from ‘96 to 2012 up 60% for pets, up 50% for people.
Over the course of a pet’s lifetime, owners can expect to spend $9,000-$13,000 on health care.
Why do we do it? According to Felderhoff, it's because of the unconditional love they bring to our lives. Okay, it's worth it!