Owning a pet now means having a financial plan. Here's what to consider in 2026.
Summary
Owning a pet comes with many costs, including food, medical care, and other services, which have increased in recent years. In 2026, pet owners need to plan their finances to cover both regular expenses and unexpected veterinary bills.Key Facts
- In 2023, about 95 million U.S. households owned at least one pet.
- The U.S. pet industry spending reached $158 billion in 2023, expected to rise to $165 billion in 2026.
- Veterinary care and related products are projected to make up about $42.4 billion of the 2026 pet spending.
- Pet costs include food, yearly exams, vaccinations, medications, grooming, training, and boarding.
- Emergency vet bills can be much higher than regular costs, so having a separate fund for emergencies is recommended.
- Pet insurance can help cover large vet bills but may come with deductibles, limits, and restrictions.
- Around 2% of pet industry growth in 2026 is due to inflation increasing prices.
- Many pet owners are being more thoughtful about spending because household budgets are tighter.
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