Like with many other industries and consumer segments, the coronavirus pandemic caused shifts within the pet world. Needing more comfort at home during nationwide lockdowns and having more spare time due to restrictions on out-of-home activities may be just two reasons that
in 2021 and 2022. However, in 2023, it was estimated that around 57 percent of households in the UK owned at least one pet, a decrease of five percent compared to the previous year. As pandemic restrictions started to become a thing of the past and consumer's lifestyles got back to normal, they may have had less time for an additional furry household member.
UK pet expenditure
Despite the pet population recently shrinking, the amount of money that consumers spend on their pets is still increasing.
Consumer spending on pets and related products reached an all-time high of around 9.89 billion GBP in 2022, almost double the figure which was spent on pets ten years previously. The
cost of owning a dog in the UK was estimated reach an average of 1,875 GBP per year. Major costs included boarding, pet insurance, and food. These three categories amounted for over 50 percent of total annual expenditure. The
average annual insurance costs for dogs vary widely by the type of policy taken out. For example, the average cost of a lifetime policy was around 332 GBP, while accident only cost around 64 GBP.
Popular pets in the UK
Dogs most recently ranked as the
most popular type of pet in the UK. According to a survey, just under one-third of UK households owned at least one dog. Cats followed in second place, with the share of UK households owning a feline friend reaching 26 percent. Rabbits and indoor birds trailed in third and fourth place, with between two and three percent of households owning either. Dogs make their owners happy, and this feeling of happiness is the
leading reason for getting a dog.
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