Pet Stores in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: September 2024
NAICS 45391Revenue
$28.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
166k
Businesses
17,481
Wages
$X.Xbn
Pet Stores in the US industry analysis
Pet stores prospered in recent years as households have become more financially stable and pet ownership has risen. Pet parents have increasingly lavished their pets with premium food products, designer pet accessories and luxury grooming services. The industry has expanded despite mounting competition from supermarkets, mass merchandisers and online retailers. These competitors offer similar products at greater convenience and competitive prices. Traditional brick-and-mortar stores have successfully positioned themselves as pioneers and exclusive providers of high-quality food and additional service offerings, like grooming or daycare. Pet store revenue is expected to climb at a CAGR of 2.5% to $28.8 billion through the end of 2024, including growth of 0.7% in 2024 alone.
Trends and Insights
- Economic growth boosts spending on premium pet products and services. Despite this growth, traditional brick-and-mortar stores struggle with mounting pricing pressures from online retailers, mass merchandisers and discount department stores.
- Staples like pet food and medicine are essential, making customers less sensitive to price changes. Conversely, when consumer income falls, pet toys and accessories sales will slump.
- Pet stores are well dispersed across the United States. Locations are based primarily on the number of households in each region and the household median income level.
- Price, product range, customer service and location are key. Since most pet products are identical, price and pet services are the primary competitive edges.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.5 % over the past five years, to reach an estimated $28.8bn in 2024.
Trends and Insights
Small pet stores contend with rising competition
- Traditional pet stores are typically small-scale and independently owned, with more than half employing fewer than ten workers. Small retailers often compete by catering to a specific niche market within a regional area.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Pet ownership rates fuel sales
- A boost in pet ownership will lead to higher demand for discretionary and nondiscretionary products and services, like food, treats and toys. Recently, owners have become more willing to spoil their pets, which benefits revenue for pet stores.
Biggest companies in the Pet Stores in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Petsmart Inc. | 6,676.7 | 396.1 | 5.9 | |
Petco Animal Supplies Inc. | 3,808.7 | 262.6 | 6.9 | |
Pet Food Express | 77.5 | 1.5 | 1.9 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Pet food and treats, Pets and pet supplies and Pet care services. Pet food and treats is the largest segment of the Pet Stores in the US.
Trends and Insights
Pet food and treats constitute the largest product segment
- This segment covers a wide range of products, such as dry and wet food for dogs and cats, bird feed, crickets and worms for reptiles and other treats and supplements for several different household pets.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- E-Commerce & Online Auctions in the US
- Mail Order in the US
Complementors
- Veterinary Services in the US
- Pet Grooming & Boarding in the US
International industries
- Pet Stores in Canada
- Garden Centres & Pet Shops in the UK
Table of Contents
About this industry
Industry definition
Pet stores sell a variety of pets, including dogs, cats, fish and birds. Stores also sell pet foods and supplies, such as collars, leashes, health and beauty aids, shampoos, medication, toys, containers, kennels and furniture. Some stores also offer pet services, such as grooming, training and daycare.
What's included in this industry?
Retailing petsRetailing pet foodRetailing pet suppliesCompanies
Petsmart Inc.Petco Animal Supplies Inc.Pet Food ExpressPurchase this report to view all 3 major companies in this industry.
Related Terms
PET PARENTSPET BOARDING AND DAY-CAREINITIAL PUBLIC OFFERINGIndustry Code
NAICS 45391 - Pet Stores in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Economic growth boosts spending on premium pet products and services. Despite this growth, traditional brick-and-mortar stores struggle with mounting pricing pressures from o...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Staples like pet food and medicine are essential, making customers less sensitive to price changes. Conversely, when consumer income falls, pet toys and accessories sales wil...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Pet stores are well dispersed across the United States. Locations are based primarily on the number of households in each region and the household median income level.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price, product range, customer service and location are key. Since most pet products are identical, price and pet services are the primary competitive edges.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Large pet stores garner a rising revenue share through websites as more customers feel comfortable purchasing online. To maintain foot traffic, they must carry more exclusive...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Petsmart Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Petco Animal Supplies Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Pet Food Express's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Petsmart Inc., and factors influencing its performance in the industry
- Description and key data for Petco Animal Supplies Inc., and factors influencing its performance in the industry
- Description and key data for Pet Food Express, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Pet stores are subject to industry-specific and general regulations. Various federal, state and local authorities govern the transportation, handling and sale of small pets.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Minimal depreciation is typical for labor-intensive retailers, requiring minimal capital costs. Still, depreciation costs are higher than in other retail industries because p...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Pet Stores in the US industry in United States in 2024?
The market size of the Pet Stores in the US industry in United States is $28.8bn in 2024.
How many businesses are there in the Pet Stores in the US industry in 2024?
There are 17,481 businesses in the Pet Stores in the US industry in United States, which has grown at a CAGR of 6.5 % between 2019 and 2024.
Has the Pet Stores in the US industry in United States grown or declined over the past 5 years?
The market size of the Pet Stores in the US industry in United States has been growing at a CAGR of 2.5 % between 2019 and 2024.
What is the forecast growth of the Pet Stores in the US industry in United States over the next 5 years?
Over the next five years, the Pet Stores in the US industry in United States is expected to grow.
What are the biggest companies in the Pet Stores in the US market in United States?
The biggest companies operating in the Pet Stores market in United States are Petsmart Inc., Petco Animal Supplies Inc. and Pet Food Express
What does the Pet Stores in the US in United States include?
Retailing pets and Retailing pet food are part of the Pet Stores in the US industry.
Which companies have the highest market share in the Pet Stores in the US in United States?
The company holding the most market share in United States is Petsmart Inc..
How competitive is the Pet Stores in the US industry in United States?
The level of competition is high and increasing in the Pet Stores in the US industry in United States.
