Americans spent a record $56 billion on pets last year. LOS ANGELES - Americans spent an all-time high of $55.7 billion on their pets in last year and spending will creep close to $60 billion this year, an industry spokesman said Thursday. Pets across America live like little humans these days - and as long as people treat them that way, pet spending should keep climbing, said Bob Vetere, the president and CEO of the American Pet Products Association.