The household expenditure on pet purchases, supplies, and medicine in Japan stood at 3.40 thousand Japanese Yens in 2023. The forecast shows a consistent year-on-year decline: 2024 (-2.06%), 2025 (-2.10%), 2026 (-2.15%), 2027 (-1.88%), and 2028 (-2.24%). Over the past two years, the expenditure has displayed a decreasing trend, with a CAGR of approximately -2.1% from 2023 to 2028.
Future trends to watch for include the impact of an aging population on pet ownership, shifts in consumer preferences towards premium and health-related pet products, and potential economic factors that could influence discretionary spending on pets.
