New Jersey pet owners spend the most in America - and their furry companions’ luxuries come with a hefty price 

Pets have been an integral part of human lives since time immemorial. The future looks no different. A report by Capital One Shopping focused its research on pet expenses in the US, the leading market for everything related to pets, and revealed interesting findings about the market trends, average expenses, and state-by-state pet ownership. While it is already booming, the pet industry is set to hit the $200 billion mark in the next five years. Of all the states, pet owners in New Jersey tend to spend more on their canine pals than most in the country. 

The idea of having a furry friend to offer companionship, comfort during hard times, and enjoy daily walks is pleasing. It is also tempting to hurry to the nearest pet store to spoil their pets with new toys and treats. These aspects have not gone unnoticed by the thriving pet industry, as spending will total $157 billion by the end of this year. In 2024, the average American spent $2,026 on their pets. Annual pet spending has shown a steady increase over the past decade, from $66.8 billion in 2016 to a projected $200 billion by 2030. 

Typical pet expenses in every household include veterinary treatment, food and treats, vitamins, toys, grooming supplies, and kennel boarding. However, the expenses may vary depending on the breed and type of pet. It was found that dogs are generally more expensive to care for than cats. A dog surgery would typically cost about $484, while a cat’s treatment may cost about $238. Meanwhile, Americans spent nearly $40 billion on veterinary care and products in 2024. 

It is well known that a pet requires equal care and attention as any other family member. On that note, the global pet product sales are projected to reach up to $500 billion in 2030. Pet ownership is also expected to increase, supporting the market’s profitability in the country. While more than half of the US households own pets, 66.8% of them have dogs as their pawed pal, indicating higher pet-related expenses. When observed on a state-by-state basis, the average pet owner in New Jersey spends $4,169 on their pet, the highest of all, whereas the average pet-owning household in California spends approximately $3,550. 

Interestingly, pet expenses were the lowest ($516) in households where the main consumer was born in 1945 or earlier. Generation X, born between 1965 and 1980, was reported to spend the highest amount on pets ($943). Though the trends may seem new and likely an indication of modern times, humans and domesticated animals have co-existed in tight-knit communities since prehistoric times. According to Pedigree, the first animal to make the transition from wild to domesticated life was the wolf, about 14,000 years ago. They are often referred to as the common ancestor of all dogs. Pet ownership has evolved and come a long way to become a crucial part of modern life.