US Pet Industry

Question 1

Global Business $ amount for today? Projected in 2027?

Answer 1

261 billion

350 billion

Question 2

Size and Scope of pet industry in US:

-size of those included in pet industry
-what percentage of households own a pet? number of households?
-number of pets in America
-average household spending for dogs? cats?

Answer 2

-123.6 billion in 2021, 103.6 billion in 202
-70% or 90.5 million households
-393 million
-$1614 for dogs, $1125 for cats

Question 3

Annual growth rate of pet industry?
Employment percentage in pet business?

Answer 3

5.4%
11%

Question 4

Types of businesses in the pet industry:

Answer 4

Medical services
Food
Training
Boarding/day care
Products - toys, beds, crate
Grooming

Question 5

What do pet owners spend the most money?

Answer 5

Food and treat (50 billion)
Vet care/products (34.3 billion)
Supplies/live animals and OTC medications (29.8 billion)
Buying pets (9.5 billion)
Pet services like grooming/boarding/walking/training (9.5 billion)

Question 6

How many 18-34 year old’s will add a pet in 5 years?

Answer 6

65% (projected)

Question 7

What is the #1 reason for dogs to go the vet? Cats?

Answer 7

Dogs - allergies
Cats - urinary tract

Question 8

Why is the pet industry growing?

Answer 8

Pet parents now:
-demand better food/medical care/high end products
-realized benefits to health
-idea that more expensive items are better (premiumization)

Question 9

Different “roles” for pets (not medical wise)

Answer 9

Pets on vacation
Pets are family
Pets are therapy

Question 10

Statistics for pet owners

Answer 10

53% female, 47% male
74% dog owners
61% cat owners

Question 11

Statistics of pet ownership by generation
Gen Z
Millennial
Gen X
Baby Boomer
Builder

Answer 11

Gen Z - 14%
Millennial - 32%
Gen X - 24%
Baby Boomer - 27%
Builder - 3%

Question 12

Demographics of:
Baby Boomers
Millennials

Answer 12

Baby boomers are replacing children with pets
-pet spending peaks between 55-64%

75% of millennials own pets
-have pets other than dogs/cats
-grown up with pets as people

Question 13

Pet food wants:

Answer 13

humanization
premiumization
sustainability

42% owners want premium pet food
147% increase in raw food diets

Question 14

Use of supplements: major type used and growth percentage

Answer 14

48% owners use CBD oi;
116% growth in supplements between 2019-202

Question 15

Pet insurance facts

Answer 15

added to employee benefits
premiums available
more frequently used as time goes on

Question 16

Different industry trends

Answer 16

Organic options
Health trends
Pet celebrities’
Pet services
Health insurance
Celebrities advocate for pets

Question 17

Types of pet technology

Answer 17

Home health monitoring
GPS trackers
Health monitors
Dating apps
Automatic feeders
Pet cameras

Question 18

Pets for holidays (statitics)

Answer 18

60% Gen Z bought presents for pets
$490 million on Halloween outfits

Question 19

Human Health Benefits

Answer 19

$11.7 billion savings in US Health Care Costs
Pet owners visit doctor 0.6x less

Question 20

What areas have research in human animal bonds?

Answer 20

Child health and development
Healthy aging
Mental health and wellness

Question 21

Parts of child health and development (human animal bond)

Answer 21

Autism spectrum disorder
Allergies and immunity
Child development

Question 22

Parts of healthy aging (human animal bond)

Answer 22

Cardiovascular health
Alzheimer’s disease and dementia
Cancer

Question 23

Parts of mental health and wellness (human animal bond)

Answer 23

PTSD and trauma
Mental health
Quality of life
Workplace wellness

Question 24

What hormone is responsible for bonding, socialization, stress r3eflief, and decreased stress?

Answer 24

Oxytocin