Pet Spending Proves Recession-Resistant as Owners Prioritize Health
Event summary
- Elanco's survey of 1,409 U.S. pet owners (May 29-31, 2026) found 91% maintained or increased pet health spending despite rising costs.
- 31% of pet owners increased spending on pet health/wellness in the past three months, with 90% expecting stable or higher spending in the year ahead.
- 95% of pet owners consider pet health/wellness a priority they won't reduce due to economic pressure.
- Elanco projects the animal health industry will grow from $42B in 2025 to $60B in the next decade.
The big picture
Elanco's research underscores a structural shift in pet ownership, where pets are treated as family members rather than discretionary expenses. This trend, combined with a 20-year track record of 5% annual industry growth, positions the animal health sector as one of the most resilient in consumer spending. The company's omnichannel strategy and comprehensive portfolio innovation further strengthen its position in this growing market.
What we're watching
- Spending Resilience
- Whether pet owners will sustain current spending levels if economic conditions worsen further.
- Diagnostic Expansion
- The pace at which diagnostic adoption will grow, given only 20% of pet visits currently include diagnostics.
- Omnichannel Strategy
- How Elanco's omnichannel approach will perform as pet owners increasingly seek convenience and diverse access points.
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