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The coronavirus (COVID-19) pandemic has affected many industries in significant ways, including the pet industry. During a survey carried out in February 2022, ** percent of respondents in the United States reported acquiring a new pet. This is an increase of **** percent compared to December 2020, when ** percent of respondents reported getting a new pet.

Pet ownership during the pandemic

With nationwide lockdowns forcing people to spend most of their time confined at home, approximately ** percent of Americans from all generations surveyed in 2020 reported spending more time with their pets as a result of social distancing regulations. Additionally, the pandemic had its impact on the economic situation of millions of people who may have struggled with precarious work or part-time employment that was discontinued due to lockdowns, which made many pet owners concerned about the affordability of pet food and products. In fact, younger generations like Gen Z and Millennials in the United States were more likely than Baby Boomers to be worried about pet expenses during the coronavirus pandemic in 2020.

Pet industry in the United States

Pet industry expenditure in the United States has witnessed remarkable growth over the years and was forecast to reach nearly *** billion U.S. dollars in 2021, up from less than half that figure only ten years prior when it was approximately ** billion U.S. dollars in 2011. Among the most prominent players in the U.S. pet industry are pet food companies Mars Petcare Inc. and Nestlé Purina Petcare, generating ** billion and ** billion U.S. dollars in revenues, respectively.