According to a national pet population survey, Australia has approximately 28.7 million pets, distributed among 6.9 million households. This exceeds the population of Australia, which was 25.98 million in 2022.
Dogs remain the most beloved pets, with a population of 6.4 million, and nearly half of Australian households owning at least one dog. Cats are the second most popular pets in Australia, with a population of 5.3 million.
A concerning trend was revealed in a survey conducted by the Hospital Contribution Fund (HCF), Australia's largest private health insurance company, in 2024. The data showed that Australian pet owners are highly concerned about the increasing costs of pet care. 80% of respondents reported feeling the pressure of inflation.
In Australia, 4 out of 5 pet owners worry about the cost of pet care. Generation Z (85%) and Baby Boomers (76%) experience the highest levels of anxiety regarding this issue.
Market Size of the Australian Pet Industry
According to IBIS World, the pet industry in Australia had a market size of $3.7 billion in 2023, based on revenue. It is projected to grow at an average annual rate of 4.8% from 2018 to 2023.
In 2022, pet owners' expenditure increased to $33.2 billion AUD ($22.8 billion USD/€21.3 billion). Food accounted for 51% of the total expenditure, followed by veterinary services (14%), pet products and accessories (9%), and pet health care products (9%).
The remaining portion of total expenditure was allocated to services such as grooming and beauty (4%), pet insurance (3%), and training, behavior, and therapy services (3%).
Current Status of the Australian Pet Retail Industry
According to the latest "Australia's Pet" survey by the Australian Medical Association (AMA), most pet supplies are sold through supermarkets and pet stores. While supermarkets remain the most popular channel for purchasing pet food, their popularity is declining, with dog owners' purchasing rate dropping from 74% three years ago to 64% in 2023, and cat owners' rate decreasing from 84% to 70%. This decline may be attributed to the increasing prevalence of online shopping.
Post time: May-24-2024
