Pet ownership costs and food trends rise in US and Australia

Pet ownership involves significant financial commitments across different regions. In the United States, Americans spend approximately $168 billion annually on pets, with pet food accounting for about one-third of that expenditure. There is a growing interest in fresh pet food, which manufacturers typically define as minimally processed diets that are raw, freeze-dried, gently cooked, or steamed.

In Australia, research from Canstar indicates that pet owners spend up to $377 per month on their animals. The primary drivers of this cost are food, averaging $80 monthly, and pet insurance premiums, which average $63. Other notable expenses include daycare and pet sitters, veterinary visits, and training. Despite rising costs, many Australian owners continue to prioritize pet care, with a significant portion of respondents absorbing price increases rather than reducing the quality of care provided to their animals.